Zacks Investment Research lowered shares of National CineMedia (NASDAQ:NCMI) from a hold rating to a sell rating in a report published on Friday morning.
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. “
Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of National CineMedia from a strong-buy rating to a buy rating in a report on Friday. B. Riley downgraded shares of National CineMedia to a hold rating and set a $8.75 price target on the stock. in a report on Monday, January 29th. Finally, ValuEngine raised shares of National CineMedia from a sell rating to a hold rating in a report on Friday, December 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $7.85.
National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings results on Monday, March 12th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. National CineMedia had a net margin of 4.81% and a negative return on equity of 21.45%. The firm had revenue of $140.70 million for the quarter, compared to the consensus estimate of $144.48 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. research analysts predict that National CineMedia will post 0.3 EPS for the current year.
In related news, major shareholder General L.P. Standard bought 213,161 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average cost of $6.80 per share, with a total value of $1,449,494.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders purchased 438,481 shares of company stock worth $3,019,525 over the last ninety days. 5.40% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in NCMI. HPM Partners LLC purchased a new stake in National CineMedia in the fourth quarter valued at approximately $110,000. MetLife Investment Advisors LLC purchased a new stake in National CineMedia in the fourth quarter valued at approximately $113,000. Engineers Gate Manager LP purchased a new stake in National CineMedia in the fourth quarter valued at approximately $119,000. Teacher Retirement System of Texas purchased a new stake in National CineMedia in the fourth quarter valued at approximately $149,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in National CineMedia in the fourth quarter valued at approximately $165,000. 87.16% 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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