National CineMedia (NASDAQ:NCMI) Releases Earnings Results, Misses Expectations By $0.01 EPS

National CineMedia (NASDAQ:NCMI) released its quarterly earnings results on Monday. The business services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01), Yahoo Finance reports. The company had revenue of $90.90 million for the quarter, compared to analysts’ expectations of $77.25 million. National CineMedia updated its Q1 2024 guidance to EPS.

National CineMedia Trading Up 19.9 %

NCMI opened at $5.06 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.00 and a quick ratio of 2.00. The company’s 50 day simple moving average is $4.12 and its two-hundred day simple moving average is $4.17. The firm has a market capitalization of $489.76 million, a price-to-earnings ratio of 0.16 and a beta of 1.86. National CineMedia has a 1-year low of $1.10 and a 1-year high of $6.49.

Institutional Investors Weigh In On National CineMedia

Several hedge funds and other institutional investors have recently made changes to their positions in NCMI. Virtu Financial LLC purchased a new stake in shares of National CineMedia in the 4th quarter valued at approximately $29,000. Cubist Systematic Strategies LLC purchased a new position in National CineMedia in the third quarter worth approximately $29,000. Renaissance Technologies LLC acquired a new stake in National CineMedia during the second quarter worth $41,000. Sei Investments Co. purchased a new stake in National CineMedia in the third quarter valued at $58,000. Finally, Jane Street Group LLC lifted its stake in shares of National CineMedia by 4,022.3% in the 1st quarter. Jane Street Group LLC now owns 493,979 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 481,996 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NCMI shares. B. Riley upgraded National CineMedia from a “neutral” rating to a “buy” rating and raised their target price for the company from $4.50 to $6.75 in a research report on Tuesday. StockNews.com raised National CineMedia from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Wedbush lifted their target price on shares of National CineMedia from $4.50 to $5.50 and gave the stock a “neutral” rating in a research note on Tuesday.

About National CineMedia

National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates cinema advertising network in North America. It 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.