National CineMedia, Inc. (NCMI) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS
National CineMedia, Inc. (NASDAQ:NCMI) announced its earnings results on Monday. The business services provider reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03, Bloomberg Earnings reports. National CineMedia had a net margin of 4.56% and a negative return on equity of 16.58%. The company had revenue of $116.40 million during the quarter, compared to analyst estimates of $108.21 million. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year.
Shares of National CineMedia (NASDAQ NCMI) opened at $6.97 on Tuesday. The company has a debt-to-equity ratio of -13.47, a quick ratio of 1.94 and a current ratio of 1.94. The company has a market capitalization of $420.90, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 2.73 and a beta of 0.65.
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In other news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Amc Starplex, Llc sold 2,800,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $6.49, for a total transaction of $18,172,000.00. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.
Several research analysts recently issued reports on the stock. B. Riley lowered shares of National CineMedia from a “buy” rating to a “neutral” rating and cut their target price for the stock from $14.00 to $8.75 in a research report on Tuesday. Zacks Investment Research lowered shares of National CineMedia from a “hold” rating to a “sell” rating in a research report on Saturday. Credit Suisse Group cut their target price on shares of National CineMedia from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, September 28th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $8.00 target price (down from $12.00) on shares of National CineMedia in a research report on Tuesday, August 8th. Finally, Wedbush assumed coverage on shares of National CineMedia in a research report on Wednesday, August 2nd. They issued a “neutral” rating and a $6.50 target price for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $10.06.
About National CineMedia
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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