National CineMedia (NASDAQ:NCMI) Price Target Raised to $7.00

National CineMedia (NASDAQ:NCMI) had its price target lifted by B. Riley from $6.00 to $7.00 in a research note published on Thursday morning, The Fly reports. The firm currently has a buy rating on the business services provider’s stock.

NCMI has been the topic of several other reports. Zacks Investment Research raised shares of National CineMedia from a sell rating to a hold rating in a research note on Wednesday, May 12th. Benchmark raised shares of National CineMedia from a hold rating to a buy rating and set a $6.00 price target on the stock in a research note on Wednesday, April 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $4.65.

Shares of NASDAQ:NCMI opened at $5.06 on Thursday. The firm’s fifty day moving average price is $4.70. National CineMedia has a 12-month low of $1.81 and a 12-month high of $6.11. The firm has a market cap of $409.03 million, a P/E ratio of -4.87 and a beta of 1.90.

National CineMedia (NASDAQ:NCMI) last announced its earnings results on Sunday, May 9th. The business services provider reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The business had revenue of $5.40 million for the quarter, compared to the consensus estimate of $15.04 million. During the same quarter in the prior year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was down 91.7% on a year-over-year basis. As a group, equities analysts anticipate that National CineMedia will post -0.37 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 17th. Stockholders of record on Friday, May 21st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Thursday, May 20th. National CineMedia’s dividend payout ratio (DPR) is presently -20.00%.

In other news, CEO Thomas F. Lesinski sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 12th. The shares were sold at an average price of $4.28, for a total value of $42,800.00. Following the transaction, the chief executive officer now directly owns 111,622 shares of the company’s stock, valued at $477,742.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.10% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Wasatch Advisors Inc. boosted its holdings in National CineMedia by 18.5% in the first quarter. Wasatch Advisors Inc. now owns 5,787,044 shares of the business services provider’s stock worth $26,736,000 after purchasing an additional 902,030 shares in the last quarter. BlackRock Inc. boosted its holdings in National CineMedia by 4.7% in the first quarter. BlackRock Inc. now owns 4,735,342 shares of the business services provider’s stock worth $21,877,000 after purchasing an additional 211,670 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in National CineMedia by 119.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,374,247 shares of the business services provider’s stock worth $5,112,000 after purchasing an additional 747,717 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in National CineMedia by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,093,209 shares of the business services provider’s stock worth $4,067,000 after purchasing an additional 57,167 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in National CineMedia by 11.8% during the first quarter. Geode Capital Management LLC now owns 1,053,888 shares of the business services provider’s stock valued at $4,868,000 after acquiring an additional 111,386 shares during the period. Hedge funds and other institutional investors own 68.67% of the company’s stock.

National CineMedia Company Profile

National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates cinema advertising 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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