National CineMedia (NCMI) Shares Up 9.1% Following Analyst Upgrade
National CineMedia, Inc. (NASDAQ:NCMI) was up 9.1% during trading on Monday after B. Riley raised their price target on the stock from $10.50 to $11.50. B. Riley currently has a buy rating on the stock. National CineMedia traded as high as $10.73 and last traded at $10.60. Approximately 1,905,500 shares changed hands during mid-day trading, an increase of 183% from the average daily volume of 674,222 shares. The stock had previously closed at $9.72.
Other research analysts have also recently issued reports about the stock. BidaskClub cut shares of National CineMedia from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 17th. ValuEngine upgraded shares of National CineMedia from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Zacks Investment Research cut shares of National CineMedia from a “strong-buy” rating to a “hold” rating in a report on Friday, July 27th. Finally, MKM Partners increased their price objective on shares of National CineMedia to $9.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $8.67.
In related news, major shareholder General L.P. Standard acquired 182,439 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was acquired at an average cost of $8.59 per share, for a total transaction of $1,567,151.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders bought 258,378 shares of company stock valued at $2,215,839 over the last quarter. Insiders own 2.30% of the company’s stock.
The firm has a market capitalization of $767.83 million, a price-to-earnings ratio of 26.34 and a beta of 0.62. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of -9.88.
National CineMedia (NASDAQ:NCMI) last issued its earnings results on Monday, August 6th. The business services provider reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). The business had revenue of $113.70 million for the quarter, compared to the consensus estimate of $108.48 million. National CineMedia had a negative return on equity of 50.95% and a net margin of 1.40%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 earnings per share. sell-side analysts forecast that National CineMedia, Inc. will post 0.37 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Thursday, August 16th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date was Wednesday, August 15th. National CineMedia’s payout ratio is 170.00%.
About National CineMedia (NASDAQ:NCMI)
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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