National CineMedia, Inc. (NASDAQ:NCMI)’s share price shot up 8.5% during mid-day trading on Wednesday . The company traded as high as $3.34 and last traded at $3.44, 49,230 shares traded hands during mid-day trading. A decline of 96% from the average session volume of 1,148,314 shares. The stock had previously closed at $3.17.
A number of research firms have recently issued reports on NCMI. Barrington Research downgraded shares of National CineMedia from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 18th. ValuEngine raised shares of National CineMedia from a “sell” rating to a “hold” rating in a research note on Tuesday. Wedbush boosted their price target on shares of National CineMedia from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Benchmark downgraded shares of National CineMedia from a “buy” rating to a “hold” rating in a research note on Wednesday, March 18th. Finally, Zacks Investment Research raised shares of National CineMedia from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.55.
The firm has a market capitalization of $277.84 million, a PE ratio of 8.04 and a beta of 0.55. The business’s 50 day moving average price is $6.19 and its 200-day moving average price is $7.29.
National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $147.20 million during the quarter, compared to analysts’ expectations of $140.08 million. National CineMedia had a net margin of 8.12% and a negative return on equity of 31.57%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. Equities research analysts forecast that National CineMedia, Inc. will post 0.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 20.54%. This is a boost from National CineMedia’s previous quarterly dividend of $0.17. National CineMedia’s payout ratio is 161.70%.
In other National CineMedia news, major shareholder General L.P. Standard acquired 236,564 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average price of $2.78 per share, for a total transaction of $657,647.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 1,013,726 shares of company stock valued at $2,740,266 in the last 90 days. Company insiders own 4.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in NCMI. Aigen Investment Management LP acquired a new position in National CineMedia during the 4th quarter worth approximately $34,000. Amalgamated Bank acquired a new position in National CineMedia during the 4th quarter worth approximately $74,000. Great West Life Assurance Co. Can acquired a new position in National CineMedia during the 4th quarter worth approximately $78,000. SG Americas Securities LLC acquired a new position in National CineMedia during the 4th quarter worth approximately $97,000. Finally, Principal Financial Group Inc. acquired a new position in National CineMedia during the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 92.49% of the company’s stock.
National CineMedia Company Profile (NASDAQ:NCMI)
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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