National CineMedia, Inc. (NASDAQ:NCMI) – Wedbush raised their FY2020 earnings per share estimates for National CineMedia in a research note issued on Tuesday, September 17th, Zacks Investment Research reports. Wedbush analyst A. Reese now expects that the business services provider will post earnings per share of $0.48 for the year, up from their prior estimate of $0.43. Wedbush has a “Outperform” rating and a $8.00 price target on the stock. Wedbush also issued estimates for National CineMedia’s Q4 2020 earnings at $0.24 EPS and FY2021 earnings at $0.50 EPS.
National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings data on Monday, August 5th. The business services provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $110.20 million during the quarter, compared to analysts’ expectations of $113.07 million. National CineMedia had a negative return on equity of 36.78% and a net margin of 8.12%. National CineMedia’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share.
Several other equities analysts have also recently issued reports on the company. BidaskClub raised National CineMedia from a “buy” rating to a “strong-buy” rating in a report on Monday, September 23rd. B. Riley set a $10.00 price objective on National CineMedia and gave the stock a “buy” rating in a report on Wednesday, August 21st. Benchmark lifted their price objective on National CineMedia from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Zacks Investment Research cut National CineMedia from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Finally, ValuEngine raised National CineMedia from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $9.88.
NCMI stock traded up $0.04 during midday trading on Thursday, hitting $8.26. 269,712 shares of the stock were exchanged, compared to its average volume of 535,523. The stock’s 50-day moving average price is $8.15 and its 200-day moving average price is $7.30. The stock has a market cap of $649.56 million, a price-to-earnings ratio of 22.31 and a beta of 0.72. National CineMedia has a fifty-two week low of $5.88 and a fifty-two week high of $9.64.
Several institutional investors and hedge funds have recently modified their holdings of NCMI. Martingale Asset Management L P lifted its stake in shares of National CineMedia by 57.6% during the first quarter. Martingale Asset Management L P now owns 575,554 shares of the business services provider’s stock worth $4,058,000 after purchasing an additional 210,439 shares in the last quarter. Systematic Financial Management LP acquired a new position in shares of National CineMedia during the second quarter worth about $821,000. APG Asset Management N.V. acquired a new position in shares of National CineMedia during the second quarter worth about $698,000. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of National CineMedia by 44.4% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 231,072 shares of the business services provider’s stock worth $1,516,000 after purchasing an additional 71,075 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of National CineMedia by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,610,424 shares of the business services provider’s stock worth $16,915,000 after purchasing an additional 67,734 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.
In other news, major shareholder General L.P. Standard purchased 175,000 shares of the stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $7.38 per share, with a total value of $1,291,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have acquired 527,000 shares of company stock valued at $4,001,060. 3.90% of the stock is owned by company insiders.
About National CineMedia
National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates a digital in-theater network in North America. The company 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.
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