Zacks Investment Research upgraded shares of National CineMedia (NASDAQ:NCMI) from a hold rating to a buy rating in a research note published on Thursday, Zacks.com reports. The brokerage currently has $8.00 price objective on the business services provider’s stock.
According to Zacks, “NATIONAL CINEMEDIA operates the largest digital in theatre network in North America that allows them to distribute advertisements and other content for our advertising, meetings and events businesses utilizing our proprietary digital content network. They have long term exhibitor services agreements with our founding members, Cinemark and Regal, the three largest motion picture exhibition companies in the U.S.and multi year agreements with several other theatre operators whom they refer to as network affiliates. The network affiliate agreements grant them exclusive rights, subject to limited exceptions, to sell advertising on their theatre screens. “
Several other analysts also recently issued reports on NCMI. BidaskClub raised shares of National CineMedia from a sell rating to a hold rating in a report on Tuesday, July 2nd. TheStreet downgraded shares of National CineMedia from a b- rating to a c rating in a report on Tuesday, May 7th. Wedbush raised shares of National CineMedia from a neutral rating to an outperform rating and set a $8.00 price target for the company in a report on Wednesday, June 19th. Barrington Research reissued a market perform rating on shares of National CineMedia in a report on Friday, May 17th. Finally, ValuEngine downgraded shares of National CineMedia from a hold rating to a sell rating in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $9.13.
National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings data on Monday, May 6th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The business had revenue of $76.90 million during the quarter, compared to the consensus estimate of $82.43 million. National CineMedia had a net margin of 6.98% and a negative return on equity of 33.32%. National CineMedia’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) EPS. As a group, analysts forecast that National CineMedia will post 0.44 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the business. Chicago Equity Partners LLC bought a new position in shares of National CineMedia during the 2nd quarter worth about $70,000. Meitav Dash Investments Ltd. bought a new position in shares of National CineMedia during the 1st quarter worth about $120,000. BNP Paribas Arbitrage SA lifted its holdings in shares of National CineMedia by 86.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 19,046 shares of the business services provider’s stock worth $134,000 after acquiring an additional 8,819 shares during the period. WINTON GROUP Ltd bought a new position in shares of National CineMedia during the 2nd quarter worth about $162,000. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of National CineMedia by 441.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 26,523 shares of the business services provider’s stock worth $172,000 after acquiring an additional 21,627 shares during the period. 90.32% of the stock is owned by hedge funds and other institutional investors.
National CineMedia Company Profile
National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates a digital in-theater network in North America. The company engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment pre-show seen on movie screens; and sells advertising on its Lobby Entertainment Network, a series of strategically-placed screens located in movie theater lobbies, as well as other forms of advertising and promotions in theatre lobbies.
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