National CineMedia Inc. (NCMI) Trading Down 2%
Shares of National CineMedia Inc. (NASDAQ:NCMI) traded down 2% on Tuesday . The company traded as low as $14.98 and last traded at $15.00, with a volume of 79,077 shares. The stock had previously closed at $15.30.
NCMI has been the subject of several analyst reports. B. Riley reissued a “buy” rating and set a $18.75 price target on shares of National CineMedia in a research report on Sunday, August 14th. Zacks Investment Research lowered shares of National CineMedia from a “hold” rating to a “sell” rating in a research report on Thursday, August 11th. Wedbush reissued an “outperform” rating and set a $17.50 price target (down from $19.00) on shares of National CineMedia in a research report on Wednesday, August 10th. FBR & Co decreased their price target on shares of National CineMedia from $18.50 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, August 9th. Finally, Stifel Nicolaus lowered shares of National CineMedia from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $17.56.
The company’s 50-day moving average is $15.57 and its 200 day moving average is $14.86. The company has a market capitalization of $891.56 million and a PE ratio of 53.60.
National CineMedia (NASDAQ:NCMI) last released its earnings results on Monday, August 8th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.03. During the same period in the prior year, the company posted $0.17 earnings per share. The business earned $115.40 million during the quarter, compared to the consensus estimate of $115.52 million. National CineMedia’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that National CineMedia Inc. will post $0.40 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Thursday, August 25th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 5.91%. The ex-dividend date is Tuesday, August 23rd.
A number of institutional investors have recently added to or reduced their stakes in NCMI. Rhumbline Advisers increased its position in National CineMedia by 3.5% in the fourth quarter. Rhumbline Advisers now owns 80,367 shares of the company’s stock valued at $1,263,000 after buying an additional 2,705 shares in the last quarter. California Public Employees Retirement System increased its position in National CineMedia by 1.8% in the fourth quarter. California Public Employees Retirement System now owns 195,918 shares of the company’s stock valued at $3,078,000 after buying an additional 3,400 shares in the last quarter. Finally, Bank of Montreal Can increased its position in National CineMedia by 12.6% in the fourth quarter. Bank of Montreal Can now owns 675,597 shares of the company’s stock valued at $10,613,000 after buying an additional 75,630 shares in the last quarter.
National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). NCM LLC operates the digital in-theatre media network in North America, through which it sells in-theatre and online advertising and promotions. The Company is engaged in advertising business.
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