BidaskClub upgraded shares of National CineMedia (NASDAQ:NCMI) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
NCMI has been the subject of several other reports. Zacks Investment Research downgraded National CineMedia from a hold rating to a sell rating in a research note on Friday, March 9th. ValuEngine downgraded National CineMedia from a hold rating to a sell rating in a research note on Monday, April 2nd. B. Riley downgraded National CineMedia to a hold rating and set a $8.75 target price for the company. in a research note on Monday, January 29th. Barrington Research reissued a hold rating on shares of National CineMedia in a research note on Monday, March 19th. Finally, Benchmark reissued a buy rating and issued a $10.00 price objective (down from $12.00) on shares of National CineMedia in a research note on Tuesday, March 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. National CineMedia currently has an average rating of Hold and a consensus price target of $7.92.
Shares of NCMI stock opened at $5.87 on Wednesday. The company has a debt-to-equity ratio of -769.42, a current ratio of 1.94 and a quick ratio of 1.94. The company has a market cap of $456.61, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.80 and a beta of 0.55. National CineMedia has a 1-year low of $5.09 and a 1-year high of $12.70.
National CineMedia (NASDAQ:NCMI) last announced its earnings results on Monday, March 12th. The business services provider reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.06. The business had revenue of $140.70 million during the quarter, compared to the consensus estimate of $144.48 million. National CineMedia had a negative return on equity of 55.42% and a net margin of 0.12%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. sell-side analysts forecast that National CineMedia will post 0.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 22nd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 11.58%. The ex-dividend date of this dividend was Wednesday, March 21st. National CineMedia’s dividend payout ratio is currently 170.00%.
In other news, major shareholder General L.P. Standard acquired 249,600 shares of National CineMedia stock in a transaction that occurred on Friday, March 16th. The stock was purchased at an average cost of $5.74 per share, with a total value of $1,432,704.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders purchased 1,387,513 shares of company stock valued at $7,889,192. 5.40% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of NCMI. JPMorgan Chase & Co. increased its stake in shares of National CineMedia by 672.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 465,995 shares of the business services provider’s stock worth $3,285,000 after acquiring an additional 405,700 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of National CineMedia by 28.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 594,000 shares of the business services provider’s stock worth $4,147,000 after acquiring an additional 131,621 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of National CineMedia by 29.7% in the 3rd quarter. California Public Employees Retirement System now owns 265,872 shares of the business services provider’s stock worth $1,856,000 after acquiring an additional 60,872 shares during the last quarter. Skylands Capital LLC increased its stake in shares of National CineMedia by 11.9% in the 4th quarter. Skylands Capital LLC now owns 908,850 shares of the business services provider’s stock worth $6,235,000 after acquiring an additional 96,700 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of National CineMedia in the 4th quarter worth $214,000. 86.41% of the stock is owned by institutional investors and hedge funds.
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National CineMedia Company Profile
National CineMedia, Inc is a holding company that engages in the provision of advertising, business meetings, event services and third-party theatre circuits under network affiliate agreements. It owns and operates the digital in-theatre network in North America, which is used to distribute content for its advertising promotions, Fathom Events.
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