Zacks: Brokerages Expect National CineMedia, Inc. (NCMI) Will Announce Quarterly Sales of $110.04 Million
Brokerages predict that National CineMedia, Inc. (NASDAQ:NCMI) will report sales of $110.04 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for National CineMedia’s earnings, with the lowest sales estimate coming in at $100.60 million and the highest estimate coming in at $115.56 million. National CineMedia reported sales of $113.50 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 3%. The business is scheduled to issue its next earnings report after the market closes on Monday, November 6th.
According to Zacks, analysts expect that National CineMedia will report full year sales of $110.04 million for the current fiscal year, with estimates ranging from $416.80 million to $436.40 million. For the next fiscal year, analysts anticipate that the firm will report sales of $440.87 million per share, with estimates ranging from $425.10 million to $451.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow National CineMedia.
National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings data on Monday, August 7th. The business services provider reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.04). The firm had revenue of $97.10 million during the quarter, compared to the consensus estimate of $104.30 million. National CineMedia had a net margin of 4.56% and a negative return on equity of 16.58%. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 earnings per share.
A number of research firms have weighed in on NCMI. B. Riley reaffirmed a “buy” rating and set a $14.00 target price on shares of National CineMedia in a research note on Saturday, August 12th. Wedbush began coverage on shares of National CineMedia in a research note on Wednesday, August 2nd. They set a “neutral” rating and a $6.50 target price on the stock. Zacks Investment Research raised shares of National CineMedia from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. BidaskClub cut shares of National CineMedia from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $8.00 target price (down previously from $12.00) on shares of National CineMedia in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $10.93.
In related 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Amc Starplex, Llc sold 2,800,000 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $6.49, for a total transaction of $18,172,000.00. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Pacad Investment Ltd. grew its stake in shares of National CineMedia by 690.2% in the second quarter. Pacad Investment Ltd. now owns 14,223 shares of the business services provider’s stock worth $106,000 after purchasing an additional 12,423 shares during the last quarter. Nine Chapters Capital Management LLC bought a new stake in shares of National CineMedia in the third quarter worth $136,000. Fox Run Management L.L.C. bought a new stake in shares of National CineMedia in the second quarter worth $137,000. Stifel Financial Corp grew its stake in shares of National CineMedia by 30.5% in the second quarter. Stifel Financial Corp now owns 19,126 shares of the business services provider’s stock worth $142,000 after purchasing an additional 4,468 shares during the last quarter. Finally, DRW Securities LLC bought a new stake in shares of National CineMedia in the second quarter worth $142,000. 83.88% of the stock is currently owned by institutional investors.
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National CineMedia Company Profile
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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