National CineMedia (NCMI) Shares Gap Down on Analyst Downgrade

Shares of National CineMedia, Inc. (NASDAQ:NCMI) gapped down before the market opened on Tuesday after Benchmark lowered their price target on the stock from $12.00 to $10.00. The stock had previously closed at $7.40, but opened at $6.81. Benchmark currently has a buy rating on the stock. National CineMedia shares last traded at $6.24, with a volume of 3207442 shares trading hands.

Several other analysts have also weighed in on NCMI. B. Riley set a $9.00 target price on shares of National CineMedia and gave the company a “hold” rating in a research note on Tuesday, November 14th. ValuEngine upgraded shares of National CineMedia from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub upgraded shares of National CineMedia from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Finally, Zacks Investment Research lowered shares of National CineMedia from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $8.21.

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In other news, major shareholder General L.P. Standard purchased 15,000 shares of the stock in a transaction dated Friday, December 22nd. The stock was acquired at an average price of $6.94 per share, for a total transaction of $104,100.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have acquired 438,481 shares of company stock valued at $3,019,525. 5.40% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Skylands Capital LLC grew its position in shares of National CineMedia by 11.9% during the fourth quarter. Skylands Capital LLC now owns 908,850 shares of the business services provider’s stock worth $6,235,000 after acquiring an additional 96,700 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of National CineMedia during the fourth quarter worth about $214,000. Gabelli Funds LLC grew its position in shares of National CineMedia by 175.0% during the fourth quarter. Gabelli Funds LLC now owns 104,500 shares of the business services provider’s stock worth $717,000 after acquiring an additional 66,500 shares during the last quarter. Western Standard LLC grew its position in shares of National CineMedia by 375.6% during the third quarter. Western Standard LLC now owns 879,346 shares of the business services provider’s stock worth $6,138,000 after acquiring an additional 694,446 shares during the last quarter. Finally, TCW Group Inc. bought a new position in shares of National CineMedia during the fourth quarter worth about $305,000. Institutional investors and hedge funds own 87.16% of the company’s stock.

The stock has a market cap of $544.02, a PE ratio of 18.94, a P/E/G ratio of 2.13 and a beta of 0.36. The company has a debt-to-equity ratio of -14.71, a current ratio of 1.76 and a quick ratio of 1.76.

National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings data on Monday, March 12th. The business services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. The business had revenue of $140.70 million during the quarter, compared to the consensus estimate of $144.48 million. National CineMedia had a net margin of 4.81% and a negative return on equity of 21.45%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. equities analysts anticipate that National CineMedia, Inc. will post 0.3 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 22nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 10.90%. The ex-dividend date of this dividend is Wednesday, March 21st. National CineMedia’s payout ratio is currently 266.67%.

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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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