Benchmark Issues Pessimistic Forecast for National CineMedia (NASDAQ:NCMI) Stock Price

National CineMedia (NASDAQ:NCMI) had its target price lowered by Benchmark from $8.00 to $7.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Benchmark’s price objective points to a potential upside of 43.15% from the company’s previous close.

NCMI has been the subject of several other reports. Wedbush restated an “outperform” rating and set a $7.50 target price on shares of National CineMedia in a research report on Thursday, May 1st. B. Riley downgraded National CineMedia from a “buy” rating to a “neutral” rating and set a $6.00 price target for the company. in a research report on Friday, May 16th. William Blair reissued a “neutral” rating and set a $7.50 price objective on shares of National CineMedia in a report on Friday, March 7th. Wall Street Zen cut shares of National CineMedia from a “hold” rating to a “sell” rating in a research report on Thursday, May 8th. Finally, Barrington Research reiterated an “outperform” rating and set a $7.00 target price on shares of National CineMedia in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.00.

National CineMedia Trading Down 0.6%

Shares of National CineMedia stock opened at $4.89 on Wednesday. National CineMedia has a 12-month low of $4.12 and a 12-month high of $7.60. The company has a market cap of $461.13 million, a price-to-earnings ratio of -25.74 and a beta of 2.12. The company’s 50-day moving average price is $5.33 and its 200-day moving average price is $6.04.

National CineMedia (NASDAQ:NCMI) last posted its earnings results on Tuesday, May 6th. The business services provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). National CineMedia had a negative return on equity of 2.83% and a negative net margin of 7.68%. The firm had revenue of $34.90 million for the quarter, compared to the consensus estimate of $35.13 million. On average, sell-side analysts predict that National CineMedia will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On National CineMedia

Several institutional investors have recently modified their holdings of NCMI. GAMMA Investing LLC lifted its position in National CineMedia by 502.0% in the 1st quarter. GAMMA Investing LLC now owns 5,081 shares of the business services provider’s stock worth $30,000 after buying an additional 4,237 shares during the last quarter. Strs Ohio bought a new stake in shares of National CineMedia in the 1st quarter worth approximately $43,000. Summit Securities Group LLC bought a new stake in shares of National CineMedia in the 4th quarter worth approximately $53,000. BNP Paribas Financial Markets purchased a new stake in shares of National CineMedia in the 4th quarter valued at $57,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of National CineMedia in the 1st quarter valued at $63,000. 69.49% of the stock is currently owned by institutional investors.

National CineMedia Company Profile

National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates cinema advertising network in North America. It engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment show seen on movie screens; and sells advertising on its Lobby Entertainment Network, a series of strategically-placed screens located in movie theater lobbies, as well as other forms of advertising and promotions in theatre lobbies.