National CineMedia (NASDAQ:NCMI) Downgraded by B. Riley

B. Riley cut shares of National CineMedia (NASDAQ:NCMI) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, Briefing.com Automated Import reports. They currently have $8.50 target price on the business services provider’s stock, down from their prior target price of $9.75. B. Riley also issued estimates for National CineMedia’s Q4 2019 earnings at $0.19 EPS, FY2019 earnings at $0.41 EPS, Q1 2020 earnings at $0.00 EPS, Q4 2020 earnings at $0.20 EPS, FY2020 earnings at $0.41 EPS, Q1 2021 earnings at $0.00 EPS, Q2 2021 earnings at $0.10 EPS, Q3 2021 earnings at $0.13 EPS and FY2021 earnings at $0.45 EPS.

A number of other research firms have also recently commented on NCMI. ValuEngine cut shares of National CineMedia from a hold rating to a sell rating in a research report on Monday, November 4th. Zacks Investment Research cut shares of National CineMedia from a buy rating to a hold rating in a research report on Saturday, September 28th. Benchmark upped their target price on shares of National CineMedia from $10.00 to $12.00 and gave the company a buy rating in a research report on Wednesday, September 18th. Finally, BidaskClub cut shares of National CineMedia from a strong-buy rating to a buy rating in a research report on Saturday, October 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $9.70.

Shares of NASDAQ:NCMI traded up $0.02 during trading on Tuesday, hitting $7.60. 329,600 shares of the stock traded hands, compared to its average volume of 356,774. The company has a fifty day moving average price of $8.31 and a two-hundred day moving average price of $7.43. The company has a market cap of $558.65 million, a price-to-earnings ratio of 20.54 and a beta of 0.70. National CineMedia has a 52-week low of $5.64 and a 52-week high of $8.93.

National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings results on Monday, November 4th. The business services provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $110.50 million for the quarter, compared to analyst estimates of $118.75 million. National CineMedia had a net margin of 7.66% and a negative return on equity of 32.44%. The company’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. As a group, equities research analysts anticipate that National CineMedia will post 0.44 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given a $0.17 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.68 dividend on an annualized basis and a yield of 8.95%. National CineMedia’s payout ratio is currently 183.78%.

In related news, major shareholder General L.P. Standard bought 212,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were bought at an average price of $7.78 per share, with a total value of $1,649,360.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 527,000 shares of company stock worth $4,001,060 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in shares of National CineMedia during the second quarter worth about $32,000. Chicago Equity Partners LLC acquired a new stake in shares of National CineMedia during the second quarter worth about $70,000. Bank of Montreal Can lifted its position in shares of National CineMedia by 98.7% during the second quarter. Bank of Montreal Can now owns 10,883 shares of the business services provider’s stock worth $72,000 after purchasing an additional 5,406 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of National CineMedia during the third quarter worth about $109,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of National CineMedia during the third quarter worth about $141,000. 88.61% of the stock is currently owned by institutional investors and hedge funds.

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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