National CineMedia, Inc. (NCMI) Receives Average Recommendation of “Hold” from Brokerages
Shares of National CineMedia, Inc. (NASDAQ:NCMI) have received a consensus rating of “Hold” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $11.76.
NCMI has been the topic of several analyst reports. BidaskClub lowered shares of National CineMedia from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. B. Riley reaffirmed a “buy” rating and set a $14.00 price target on shares of National CineMedia in a research report on Wednesday, August 2nd. Wedbush initiated coverage on shares of National CineMedia in a research report on Wednesday, August 2nd. They set a “neutral” rating and a $6.50 price target on the stock. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $8.00 price target (down previously from $12.00) on shares of National CineMedia in a research report on Tuesday, August 8th. Finally, Zacks Investment Research raised shares of National CineMedia from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th.
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In other National CineMedia news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $6.09, for a total value of $73,080,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.40% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of National CineMedia by 6.0% in the second quarter. Vanguard Group Inc. now owns 5,199,463 shares of the business services provider’s stock worth $38,580,000 after acquiring an additional 292,797 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of National CineMedia by 8.3% in the first quarter. Wellington Management Group LLP now owns 4,136,636 shares of the business services provider’s stock worth $52,246,000 after acquiring an additional 316,814 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of National CineMedia in the second quarter worth $27,242,000. Thompson Siegel & Walmsley LLC grew its stake in shares of National CineMedia by 238.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,707,647 shares of the business services provider’s stock worth $20,091,000 after acquiring an additional 1,907,741 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of National CineMedia by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,323,816 shares of the business services provider’s stock worth $17,243,000 after acquiring an additional 194,401 shares in the last quarter. Institutional investors and hedge funds own 85.38% of the company’s stock.
Shares of National CineMedia (NCMI) opened at 6.97 on Friday. The company has a market capitalization of $422.48 million, a PE ratio of 21.78 and a beta of 0.67. National CineMedia has a 52 week low of $5.12 and a 52 week high of $16.05. The firm’s 50-day moving average price is $5.86 and its 200 day moving average price is $8.63.
National CineMedia (NASDAQ:NCMI) last released its earnings results on Monday, August 7th. The business services provider reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.04). National CineMedia had a negative return on equity of 16.58% and a net margin of 4.56%. The business had revenue of $97.10 million during the quarter, compared to analysts’ expectations of $104.30 million. During the same period last year, the business earned $0.11 earnings per share. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. Equities analysts predict that National CineMedia will post $0.29 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Saturday, August 12th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.88 annualized dividend and a yield of 12.63%. National CineMedia’s dividend payout ratio (DPR) is presently 283.87%.
About National CineMedia
National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). The Company operates digital in-theater network in North America, allowing NCM LLC to sell advertising and certain third-party theater circuits under long-term network affiliate agreements.
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