National CineMedia (NASDAQ:NCMI) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

National CineMedia (NASDAQ:NCMI) issued its quarterly earnings results on Tuesday. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.02, FiscalAI reports. National CineMedia had a negative return on equity of 2.29% and a negative net margin of 4.32%.

National CineMedia Trading Down 2.9%

NASDAQ:NCMI traded down $0.10 during mid-day trading on Tuesday, hitting $3.38. The company had a trading volume of 217,196 shares, compared to its average volume of 413,322. National CineMedia has a fifty-two week low of $2.92 and a fifty-two week high of $5.55. The business’s fifty day moving average is $3.39 and its two-hundred day moving average is $3.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22. The firm has a market cap of $315.29 million, a P/E ratio of -33.80 and a beta of 1.43.

National CineMedia Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were paid a $0.03 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.12 annualized dividend and a yield of 3.6%. National CineMedia’s dividend payout ratio is presently -120.00%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NCMI. Barrington Research dropped their price target on shares of National CineMedia from $6.50 to $5.50 and set an “outperform” rating for the company in a research note on Monday, January 26th. B. Riley Financial dropped their price target on shares of National CineMedia from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, January 22nd. Weiss Ratings raised shares of National CineMedia from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, February 27th. Finally, Wedbush dropped their price target on shares of National CineMedia from $6.50 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, National CineMedia has a consensus rating of “Moderate Buy” and a consensus target price of $5.38.

Insiders Place Their Bets

In other National CineMedia news, EVP Maria Vg Woods sold 12,066 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $3.04, for a total value of $36,680.64. Following the transaction, the executive vice president owned 143,097 shares of the company’s stock, valued at approximately $435,014.88. This represents a 7.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On National CineMedia

Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in shares of National CineMedia by 59.8% during the 1st quarter. AQR Capital Management LLC now owns 488,025 shares of the business services provider’s stock worth $2,850,000 after acquiring an additional 182,548 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of National CineMedia during the 1st quarter worth approximately $255,000. Goldman Sachs Group Inc. grew its stake in shares of National CineMedia by 21.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 683,614 shares of the business services provider’s stock worth $3,992,000 after acquiring an additional 120,079 shares in the last quarter. Jane Street Group LLC grew its stake in shares of National CineMedia by 511.8% during the 1st quarter. Jane Street Group LLC now owns 93,061 shares of the business services provider’s stock worth $543,000 after acquiring an additional 77,849 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of National CineMedia during the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 69.49% of the company’s stock.

About National CineMedia

National CineMedia, Inc is a leading U.S. out-of-home media company specializing in cinema advertising. The firm operates a proprietary network that delivers high-impact advertising content to moviegoers across a broad footprint of theaters, offering brands a targeted and immersive way to engage audiences in a captive, distraction-free environment.

Founded in 2003 and headquartered in Centennial, Colorado, National CineMedia began as a joint venture among several major exhibition chains.