J P Morgan Chase & Co Lowers National CineMedia, Inc. (NCMI) to Underweight
J P Morgan Chase & Co lowered shares of National CineMedia, Inc. (NASDAQ:NCMI) from a neutral rating to an underweight rating in a research note issued to investors on Wednesday, Marketbeat reports. The firm currently has $5.00 target price on the business services provider’s stock.
Several other equities analysts also recently weighed in on the company. B. Riley downgraded National CineMedia from a buy rating to a neutral rating and reduced their target price for the stock from $14.00 to $8.75 in a research report on Tuesday. Zacks Investment Research downgraded National CineMedia from a hold rating to a sell rating in a report on Saturday, November 4th. Credit Suisse Group cut their price objective on National CineMedia from $8.00 to $7.00 and set a neutral rating on the stock in a report on Thursday, September 28th. Finally, Wedbush began coverage on National CineMedia in a report on Wednesday, August 2nd. They issued a neutral rating and a $6.50 price objective on the stock. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $7.85.
National CineMedia (NASDAQ:NCMI) traded down $0.10 during midday trading on Wednesday, reaching $5.61. The company had a trading volume of 701,700 shares, compared to its average volume of 692,682. National CineMedia has a 1 year low of $5.12 and a 1 year high of $16.05. The stock has a market capitalization of $448.24, a P/E ratio of 18.42, a PEG ratio of 2.30 and a beta of 0.65. The company has a debt-to-equity ratio of -14.71, a current ratio of 1.76 and a quick ratio of 1.94.
National CineMedia (NASDAQ:NCMI) last released its earnings results on Monday, November 6th. The business services provider reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.03. National CineMedia had a negative return on equity of 21.45% and a net margin of 4.81%. The firm had revenue of $116.40 million for the quarter, compared to the consensus estimate of $108.21 million. During the same period in the prior year, the business posted $0.13 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. sell-side analysts predict that National CineMedia will post 0.28 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 15.69%. National CineMedia’s dividend payout ratio (DPR) is 266.67%.
In other news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $6.09, for a total value of $73,080,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Amc Starplex, Llc sold 2,800,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $6.49, for a total value of $18,172,000.00. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Citigroup Inc. grew its stake in shares of National CineMedia by 3.5% in the second quarter. Citigroup Inc. now owns 25,190 shares of the business services provider’s stock valued at $187,000 after buying an additional 844 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of National CineMedia by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 50,503 shares of the business services provider’s stock valued at $375,000 after buying an additional 2,341 shares in the last quarter. American International Group Inc. grew its stake in shares of National CineMedia by 7.1% in the first quarter. American International Group Inc. now owns 37,901 shares of the business services provider’s stock valued at $479,000 after buying an additional 2,508 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of National CineMedia by 4.1% in the first quarter. JPMorgan Chase & Co. now owns 68,071 shares of the business services provider’s stock valued at $860,000 after buying an additional 2,668 shares in the last quarter. Finally, Denver Investment Advisors LLC grew its stake in shares of National CineMedia by 7.9% in the second quarter. Denver Investment Advisors LLC now owns 39,205 shares of the business services provider’s stock valued at $291,000 after buying an additional 2,875 shares in the last quarter. Institutional investors and hedge funds own 84.25% 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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