National CineMedia (NASDAQ:NCMI) Upgraded to “Outperform” at Barrington Research

Barrington Research upgraded shares of National CineMedia (NASDAQ:NCMI) from a market perform rating to an outperform rating in a research report sent to investors on Thursday, Briefing.com Automated Import reports. The brokerage currently has $9.50 price target on the business services provider’s stock. Barrington Research also issued estimates for National CineMedia’s Q4 2019 earnings at $0.23 EPS, FY2019 earnings at $0.45 EPS, Q2 2020 earnings at $0.09 EPS, Q3 2020 earnings at $0.13 EPS, Q4 2020 earnings at $0.23 EPS and FY2020 earnings at $0.46 EPS.

NCMI has been the topic of a number of other reports. ValuEngine lowered shares of National CineMedia from a hold rating to a sell rating in a research report on Monday, November 4th. BidaskClub lowered shares of National CineMedia from a buy rating to a hold rating in a research report on Wednesday. B. Riley lowered shares of National CineMedia from a buy rating to a neutral rating and lowered their target price for the stock from $9.75 to $8.50 in a research report on Tuesday, November 5th. Benchmark raised their target price on shares of National CineMedia from $10.00 to $12.00 and gave the stock a buy rating in a research report on Wednesday, September 18th. Finally, Wedbush restated a buy rating and set a $9.00 target price on shares of National CineMedia in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $9.70.

Shares of NCMI traded up $0.02 during mid-day trading on Thursday, hitting $7.60. 329,600 shares of the company’s stock were exchanged, compared to its average volume of 356,774. The company has a market cap of $558.65 million, a price-to-earnings ratio of 20.54 and a beta of 0.70. The stock’s 50-day moving average is $8.31 and its 200-day moving average is $7.43. National CineMedia has a fifty-two week low of $5.64 and a fifty-two week high of $8.93.

National CineMedia (NASDAQ:NCMI) last announced its earnings results on Monday, November 4th. The business services provider reported $0.12 earnings per share (EPS) 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 was up .4% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share. As a group, research analysts predict that National CineMedia will post 0.44 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 8.95%. The ex-dividend date of this dividend is Wednesday, November 13th. National CineMedia’s dividend payout ratio is presently 183.78%.

In related news, major shareholder General L.P. Standard purchased 175,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $7.38 per share, with a total value of $1,291,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have purchased 527,000 shares of company stock valued at $4,001,060. Corporate insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of NCMI. Cadence Capital Management LLC acquired a new stake in shares of National CineMedia during the third quarter worth $1,989,000. Systematic Financial Management LP acquired a new stake in National CineMedia in the second quarter valued at $821,000. APG Asset Management N.V. acquired a new stake in National CineMedia in the second quarter valued at $698,000. Municipal Employees Retirement System of Michigan acquired a new stake in National CineMedia in the third quarter valued at $770,000. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in National CineMedia by 44.4% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 231,072 shares of the business services provider’s stock valued at $1,516,000 after acquiring an additional 71,075 shares during the period. 88.61% of the stock is 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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