Wedbush Raises National CineMedia (NASDAQ:NCMI) Price Target to $10.00

National CineMedia (NASDAQ:NCMI) had its price objective hoisted by research analysts at Wedbush from $9.00 to $10.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the business services provider’s stock. Wedbush’s price objective indicates a potential upside of 8.58% from the company’s current price.

NCMI has been the subject of a number of other reports. Zacks Investment Research cut shares of National CineMedia from a “hold” rating to a “sell” rating in a report on Thursday. Barrington Research raised shares of National CineMedia from a “market perform” rating to an “outperform” rating and set a $9.50 price objective for the company in a research report on Thursday, November 7th. ValuEngine downgraded shares of National CineMedia from a “sell” rating to a “strong sell” rating in a research report on Monday, February 10th. B. Riley lowered National CineMedia from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $9.75 to $8.50 in a research note on Tuesday, November 5th. Finally, BidaskClub raised National CineMedia from a “hold” rating to a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $10.00.

Shares of NASDAQ NCMI traded up $1.21 during midday trading on Friday, hitting $9.21. 1,638,419 shares of the company’s stock traded hands, compared to its average volume of 228,069. National CineMedia has a 1 year low of $5.64 and a 1 year high of $8.93. The stock has a market capitalization of $628.38 million, a price-to-earnings ratio of 21.42 and a beta of 0.69. The firm has a fifty day moving average of $7.64 and a 200 day moving average of $7.62.

National CineMedia (NASDAQ:NCMI) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. National CineMedia had a net margin of 7.66% and a negative return on equity of 32.44%. The firm had revenue of $147.20 million during the quarter, compared to analyst estimates of $140.08 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts predict that National CineMedia will post 0.42 EPS for the current year.

Large investors have recently made changes to their positions in the stock. Aigen Investment Management LP purchased a new stake in National CineMedia in the 4th quarter worth approximately $34,000. Amalgamated Bank purchased a new position in National CineMedia during the fourth quarter valued at approximately $74,000. Great West Life Assurance Co. Can purchased a new position in National CineMedia during the fourth quarter valued at approximately $78,000. SG Americas Securities LLC purchased a new position in National CineMedia during the fourth quarter valued at approximately $97,000. Finally, Principal Financial Group Inc. bought a new position in shares of National CineMedia in the fourth quarter worth approximately $98,000. Institutional investors own 91.46% 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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