National CineMedia, Inc. (NCMI) Price Target Cut to $7.00
National CineMedia, Inc. (NASDAQ:NCMI) had its price target reduced by investment analysts at Credit Suisse Group from $8.00 to $7.00 in a research report issued on Thursday. The brokerage currently has a “neutral” rating on the business services provider’s stock. Credit Suisse Group’s price objective indicates a potential upside of 0.29% from the stock’s current price.
NCMI has been the topic of a number of other research reports. B. Riley reaffirmed a “buy” rating and issued a $14.00 price target on shares of National CineMedia in a report on Saturday, August 12th. BidaskClub cut shares of National CineMedia from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $8.00 price target (down previously from $12.00) on shares of National CineMedia in a report on Tuesday, August 8th. Wedbush assumed coverage on shares of National CineMedia in a report on Wednesday, August 2nd. They issued a “neutral” rating and a $6.50 price target on the stock. Finally, Zacks Investment Research raised shares of 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 given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $11.80.
National CineMedia (NASDAQ NCMI) opened at 6.98 on Thursday. 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 price-to-earnings ratio of 21.81 and a beta of 0.67. The stock’s 50 day moving average price is $5.86 and its 200-day moving average price is $8.63.
National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The company had revenue of $97.10 million during the quarter, compared to the consensus estimate of $104.30 million. National CineMedia had a negative return on equity of 16.58% and a net margin of 4.56%. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.11 EPS. On average, equities research analysts forecast that National CineMedia will post $0.29 earnings per share for the current fiscal year.
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In other National CineMedia 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 shares were sold at an average price of $6.09, for a total transaction of $73,080,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Blair William & Co. IL raised its holdings in National CineMedia by 2.8% during the 1st quarter. Blair William & Co. IL now owns 23,149 shares of the business services provider’s stock valued at $292,000 after acquiring an additional 632 shares during the period. Citigroup Inc. raised its holdings in National CineMedia by 3.5% during the 2nd quarter. Citigroup Inc. now owns 25,190 shares of the business services provider’s stock valued at $187,000 after acquiring an additional 844 shares during the period. OppenheimerFunds Inc. raised its holdings in National CineMedia by 1.1% during the 1st quarter. OppenheimerFunds Inc. now owns 121,226 shares of the business services provider’s stock valued at $1,531,000 after acquiring an additional 1,276 shares during the period. The Manufacturers Life Insurance Company raised its holdings in National CineMedia by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,503 shares of the business services provider’s stock valued at $375,000 after acquiring an additional 2,341 shares during the period. Finally, American International Group Inc. raised its holdings in National CineMedia by 7.1% during the 1st quarter. American International Group Inc. now owns 37,901 shares of the business services provider’s stock valued at $479,000 after acquiring an additional 2,508 shares during the period. 85.38% of the stock is currently owned by institutional investors and hedge funds.
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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