National CineMedia, Inc. (NCMI) Price Target Lowered to $7.00 at Credit Suisse Group
National CineMedia, Inc. (NASDAQ:NCMI) had its target price cut by Credit Suisse Group from $8.00 to $7.00 in a research report released on Thursday morning. They currently have a neutral rating on the business services provider’s stock.
A number of other equities analysts have also recently commented on NCMI. BidaskClub cut National CineMedia from a sell rating to a strong sell rating in a report on Saturday, July 8th. B. Riley reiterated a buy rating and issued a $14.00 target price on shares of National CineMedia in a report on Wednesday, August 2nd. Wedbush started coverage on National CineMedia in a report on Wednesday, August 2nd. They issued a neutral rating and a $6.50 target price for the company. J P Morgan Chase & Co reiterated a neutral rating and issued a $8.00 target price (down previously from $12.00) on shares of National CineMedia in a report on Tuesday, August 8th. Finally, Zacks Investment Research upgraded National CineMedia from a sell rating to a hold rating in a report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. National CineMedia presently has an average rating of Hold and a consensus target price of $11.80.
Shares of National CineMedia (NCMI) traded down 0.99% during mid-day trading on Thursday, reaching $6.98. The company’s stock had a trading volume of 368,631 shares. The company has a 50-day moving average price of $5.86 and a 200 day moving average price of $8.63. National CineMedia has a 52-week low of $5.12 and a 52-week high of $16.05. The company has a market cap of $423.09 million, a PE ratio of 21.81 and a beta of 0.67.
National CineMedia (NASDAQ:NCMI) last announced its earnings results on Monday, August 7th. The business services provider reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.04). The company had revenue of $97.10 million during the quarter, compared to analysts’ expectations of $104.30 million. National CineMedia had a negative return on equity of 16.58% and a net margin of 4.56%. National CineMedia’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 EPS. Equities analysts expect that National CineMedia will post $0.29 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Saturday, August 12th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 12.48%. The ex-dividend date of this dividend was Wednesday, August 9th. National CineMedia’s payout ratio is currently 283.87%.
In related news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $6.09, for a total transaction of $73,080,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of NCMI. Pacad Investment Ltd. boosted its holdings in National CineMedia by 690.2% during the 2nd quarter. Pacad Investment Ltd. now owns 14,223 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 12,423 shares during the period. Fox Run Management L.L.C. purchased a new position in National CineMedia during the 2nd quarter valued at $137,000. Stevens Capital Management LP purchased a new position in National CineMedia during the 1st quarter valued at $138,000. Stifel Financial Corp boosted its holdings in National CineMedia by 30.5% during the 2nd quarter. Stifel Financial Corp now owns 19,126 shares of the business services provider’s stock valued at $142,000 after acquiring an additional 4,468 shares during the period. Finally, DRW Securities LLC purchased a new position in National CineMedia during the 2nd quarter valued at $142,000. Institutional investors own 85.38% of the company’s stock.
National CineMedia Company Profile
National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). The Company operates digital in-theater network in North America, allowing NCM LLC to sell advertising and certain third-party theater circuits under long-term network affiliate agreements.
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