National CineMedia (NASDAQ:NCMI) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Friday.
Several other brokerages also recently commented on NCMI. MKM Partners upped their price target on shares of National CineMedia to $9.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. B. Riley upped their price target on shares of National CineMedia from $8.00 to $9.50 and gave the company a “buy” rating in a research report on Monday, June 25th. Zacks Investment Research downgraded shares of National CineMedia from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Finally, ValuEngine downgraded shares of National CineMedia from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $8.50.
Shares of NASDAQ:NCMI opened at $8.83 on Friday. The company has a debt-to-equity ratio of -9.88, a current ratio of 2.12 and a quick ratio of 2.12. The company has a market capitalization of $684.10 million, a P/E ratio of 22.08 and a beta of 0.55. National CineMedia has a 52 week low of $5.09 and a 52 week high of $9.30.
National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings results on Monday, August 6th. The business services provider reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $113.70 million during the quarter, compared to analysts’ expectations of $108.48 million. National CineMedia had a net margin of 1.40% and a negative return on equity of 50.95%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS. research analysts expect that National CineMedia will post 0.37 earnings per share for the current year.
In related news, major shareholder General L.P. Standard bought 297,600 shares of the business’s stock in a transaction on Thursday, June 7th. The stock was bought at an average price of $7.32 per share, for a total transaction of $2,178,432.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Amc Starplex, Llc sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, May 31st. The stock was sold at an average price of $7.23, for a total transaction of $7,230,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 555,978 shares of company stock valued at $4,394,271. 2.30% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Global X Management Co LLC lifted its position in National CineMedia by 1.3% in the 2nd quarter. Global X Management Co LLC now owns 2,456,713 shares of the business services provider’s stock worth $20,636,000 after buying an additional 30,940 shares in the last quarter. Miller Value Partners LLC lifted its position in National CineMedia by 24.5% in the 2nd quarter. Miller Value Partners LLC now owns 660,000 shares of the business services provider’s stock worth $5,544,000 after buying an additional 130,000 shares in the last quarter. Millennium Management LLC lifted its position in National CineMedia by 381.2% in the 2nd quarter. Millennium Management LLC now owns 118,382 shares of the business services provider’s stock worth $994,000 after buying an additional 93,781 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in National CineMedia in the 2nd quarter worth approximately $878,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in National CineMedia in the 2nd quarter worth approximately $138,000. Institutional investors own 79.15% of the company’s stock.
National CineMedia Company Profile
National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates an in-theatre digital media network in North America. The company produces and distributes various versions of Noovie, a cinema advertising and entertainment pre-show on movie screens; sells advertising on its lobby entertainment network; and other forms of advertising and promotions in theatre lobbies.
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