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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 analysts have also recently issued reports about the company. ValuEngine cut National CineMedia from a hold rating to a sell rating in a report on Monday, November 4th. Wedbush reiterated a buy rating and set a $9.00 price target on shares of National CineMedia in a report on Tuesday, November 5th. B. Riley cut National CineMedia from a buy rating to a neutral rating and lowered their price target for the stock from $9.75 to $8.50 in a report on Tuesday, November 5th. Benchmark increased their price target on National CineMedia from $10.00 to $12.00 and gave the stock a buy rating in a report on Wednesday, September 18th. Finally, BidaskClub cut National CineMedia from a buy rating to a hold rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. National CineMedia currently has a consensus rating of Hold and an average target price of $9.70.
Shares of NCMI stock traded up $0.02 during trading hours on Thursday, hitting $7.60. 329,600 shares of the company’s stock were exchanged, compared to its average volume of 356,774. National CineMedia has a fifty-two week low of $5.64 and a fifty-two week high of $8.93. The firm has a market cap of $558.65 million, a P/E ratio of 20.54 and a beta of 0.70. The firm has a 50 day moving average of $8.31 and a two-hundred day moving average of $7.43.
National CineMedia (NASDAQ:NCMI) last released its quarterly earnings results on Monday, November 4th. The business services provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $110.50 million for the quarter, compared to analysts’ expectations of $118.75 million. National CineMedia had a negative return on equity of 32.44% and a net margin of 7.66%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 earnings per share. On average, equities analysts predict that National CineMedia will post 0.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 8.95%. The ex-dividend date is Wednesday, November 13th. National CineMedia’s dividend payout ratio is presently 183.78%.
In other National CineMedia news, major shareholder General L.P. Standard purchased 212,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was acquired at an average cost of $7.78 per share, for a total transaction of $1,649,360.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have bought 527,000 shares of company stock valued at $4,001,060. Company insiders own 3.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Aptus Capital Advisors LLC boosted its holdings in National CineMedia by 18.6% during the 2nd quarter. Aptus Capital Advisors LLC now owns 74,700 shares of the business services provider’s stock valued at $490,000 after acquiring an additional 11,700 shares during the period. Chicago Equity Partners LLC purchased a new position in National CineMedia during the 2nd quarter valued at about $70,000. Supplemental Annuity Collective Trust of NJ boosted its holdings in National CineMedia by 5.7% during the 2nd quarter. Supplemental Annuity Collective Trust of NJ now owns 74,000 shares of the business services provider’s stock valued at $485,000 after acquiring an additional 4,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in National CineMedia by 6.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,150 shares of the business services provider’s stock valued at $572,000 after acquiring an additional 5,600 shares during the period. Finally, BBT Capital Management LLC boosted its holdings in National CineMedia by 394.6% during the 2nd quarter. BBT Capital Management LLC now owns 63,531 shares of the business services provider’s stock valued at $417,000 after acquiring an additional 50,686 shares during the period. Institutional investors own 88.61% of the company’s stock.
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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