National CineMedia, Inc. (NASDAQ:NCMI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.

According to Zacks, “NATIONAL CINEMEDIA operates the largest digital in theatre network in North America that allows them to distribute advertisements and other content for our advertising, meetings and events businesses utilizing our proprietary digital content network. They have long term exhibitor services agreements with our founding members, Cinemark and Regal, the three largest motion picture exhibition companies in the U.S.and multi year agreements with several other theatre operators whom they refer to as network affiliates. The network affiliate agreements grant them exclusive rights, subject to limited exceptions, to sell advertising on their theatre screens. “

Several other research analysts also recently commented on the company. BidaskClub downgraded National CineMedia from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th. B. Riley reissued a “buy” rating and set a $14.00 target price on shares of National CineMedia in a research note on Wednesday, August 2nd. Wedbush began coverage on National CineMedia in a research note on Wednesday, August 2nd. They set a “neutral” rating and a $6.50 target price for the company. J P Morgan Chase & Co reissued 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. Finally, Credit Suisse Group reduced their price target on National CineMedia from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. National CineMedia has a consensus rating of “Hold” and an average price target of $10.93.

National CineMedia (NCMI) traded down $0.02 during midday trading on Friday, hitting $6.69. The company had a trading volume of 557,222 shares, compared to its average volume of 528,781. The company has a market capitalization of $421.54 million, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 2.84 and a beta of 0.65. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of -13.47.

National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings results 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 company had revenue of $97.10 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period last year, the firm earned $0.11 EPS. equities analysts expect that National CineMedia will post 0.26 EPS for the current fiscal year.

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In other National CineMedia news, major shareholder Amc Starplex, Llc sold 2,800,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $6.09, for a total value of $73,080,000.00. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

Large investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of National CineMedia during the first quarter worth approximately $161,000. Pacad Investment Ltd. raised its position in shares of National CineMedia by 690.2% during 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 period. Stifel Financial Corp acquired a new position in shares of National CineMedia during the first quarter worth approximately $186,000. Fox Run Management L.L.C. acquired a new position in shares of National CineMedia during the second quarter worth approximately $137,000. Finally, DRW Securities LLC acquired a new position in shares of National CineMedia during the second quarter worth approximately $142,000. 83.88% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for National CineMedia (NASDAQ:NCMI)

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