National CineMedia (NASDAQ:NCMI) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of National CineMedia (NASDAQ:NCMI) from a buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

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. “

Several other analysts have also commented on NCMI. Wedbush reissued a buy rating and issued a $38.00 price objective on shares of Obseva in a report on Wednesday, June 19th. BidaskClub raised Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Barrington Research reissued a market perform rating on shares of National CineMedia in a report on Friday, May 17th. TheStreet raised Rent-A-Center from a c rating to a b- rating in a report on Tuesday, May 7th. Finally, ValuEngine raised XOMA from a sell rating to a hold rating in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $8.94.

NCMI traded up $0.05 during trading on Wednesday, hitting $7.00. The company’s stock had a trading volume of 219,963 shares, compared to its average volume of 310,494. National CineMedia has a twelve month low of $5.88 and a twelve month high of $10.94. The business’s fifty day moving average price is $6.64. The company has a market cap of $552.78 million, a price-to-earnings ratio of 18.92 and a beta of 0.76.

National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings data on Monday, May 6th. The business services provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. National CineMedia had a negative return on equity of 33.32% and a net margin of 6.98%. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $82.43 million. During the same period last year, the company earned ($0.03) earnings per share. National CineMedia’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, analysts anticipate that National CineMedia will post 0.44 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Legal & General Group Plc boosted its stake in shares of National CineMedia by 4.9% in the fourth quarter. Legal & General Group Plc now owns 36,269 shares of the business services provider’s stock worth $235,000 after acquiring an additional 1,702 shares during the last quarter. Stone Ridge Asset Management LLC boosted its stake in shares of National CineMedia by 7.2% in the fourth quarter. Stone Ridge Asset Management LLC now owns 38,746 shares of the business services provider’s stock worth $251,000 after acquiring an additional 2,592 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of National CineMedia by 1.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 159,997 shares of the business services provider’s stock worth $1,128,000 after acquiring an additional 3,040 shares during the last quarter. Supplemental Annuity Collective Trust of NJ boosted its stake in shares of National CineMedia by 5.7% in the second quarter. Supplemental Annuity Collective Trust of NJ now owns 74,000 shares of the business services provider’s stock worth $485,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of National CineMedia by 15.7% in the fourth quarter. Citigroup Inc. now owns 34,200 shares of the business services provider’s stock worth $222,000 after acquiring an additional 4,643 shares during the last quarter. 90.18% of the stock is currently owned by hedge funds and other institutional investors.

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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