BidaskClub upgraded shares of National CineMedia (NASDAQ:NCMI) from a hold rating to a buy rating in a report issued on Thursday, BidAskClub reports.
Several other research analysts have also commented on the stock. ValuEngine lowered shares of National CineMedia from a hold rating to a sell rating in a research note on Friday, May 24th. Wedbush upgraded shares of National CineMedia from a neutral rating to an outperform rating and set a $8.00 target price on the stock in a research note on Wednesday, June 19th. Zacks Investment Research lowered shares of National CineMedia from a buy rating to a hold rating in a research note on Wednesday. Barrington Research reiterated a market perform rating on shares of National CineMedia in a research note on Friday, May 17th. Finally, TheStreet lowered shares of National CineMedia from a b- rating to a c rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. National CineMedia currently has an average rating of Buy and a consensus price target of $8.58.
Shares of NCMI opened at $7.41 on Thursday. The company’s fifty day moving average is $6.99 and its 200-day moving average is $7.10. National CineMedia has a 12 month low of $5.88 and a 12 month high of $10.94. The firm has a market cap of $570.19 million, a price-to-earnings ratio of 20.03 and a beta of 0.74.
National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.01. National CineMedia had a net margin of 8.12% and a negative return on equity of 36.78%. The company had revenue of $110.20 million for the quarter, compared to analyst estimates of $113.07 million. During the same quarter in the prior year, the business posted $0.05 EPS. National CineMedia’s quarterly revenue was down 3.1% on a year-over-year basis. Research analysts anticipate that National CineMedia will post 0.46 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.68 dividend on an annualized basis and a yield of 9.18%. National CineMedia’s payout ratio is presently 183.78%.
In other news, major shareholder General L.P. Standard bought 175,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $7.38 per share, for a total transaction of $1,291,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.90% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in National CineMedia by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,610,424 shares of the business services provider’s stock valued at $16,915,000 after buying an additional 67,734 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in National CineMedia by 0.5% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,970,000 shares of the business services provider’s stock valued at $13,889,000 after purchasing an additional 10,000 shares during the period. Bank of New York Mellon Corp boosted its holdings in National CineMedia by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,656,487 shares of the business services provider’s stock valued at $10,867,000 after purchasing an additional 9,180 shares during the period. Northern Trust Corp boosted its holdings in National CineMedia by 0.9% in the 2nd quarter. Northern Trust Corp now owns 1,531,295 shares of the business services provider’s stock valued at $10,046,000 after purchasing an additional 13,738 shares during the period. Finally, Norges Bank bought a new stake in National CineMedia in the 4th quarter valued at $9,716,000. Institutional investors and hedge funds own 89.65% of the company’s stock.
About National CineMedia
National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates a digital in-theater network in North America. The company engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment pre-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.
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