National CineMedia (NASDAQ:NCMI) Rating Lowered to Neutral at Wedbush

Wedbush lowered shares of National CineMedia (NASDAQ:NCMI) from an outperform rating to a neutral rating in a research note published on Wednesday morning, BenzingaRatingsTable reports. They currently have $3.00 price objective on the business services provider’s stock, down from their prior price objective of $4.50. Wedbush also issued estimates for National CineMedia’s Q2 2020 earnings at ($0.22) EPS, Q3 2020 earnings at ($0.20) EPS, Q4 2020 earnings at ($0.14) EPS, FY2020 earnings at ($0.60) EPS, Q1 2021 earnings at ($0.15) EPS, Q2 2021 earnings at ($0.08) EPS, Q3 2021 earnings at ($0.07) EPS, Q4 2021 earnings at ($0.03) EPS and FY2021 earnings at ($0.34) EPS.

Other equities research analysts have also recently issued reports about the stock. MKM Partners reduced their price target on shares of National CineMedia from $8.50 to $3.00 and set a neutral rating for the company in a research report on Thursday, April 9th. ValuEngine raised shares of National CineMedia from a hold rating to a buy rating in a research report on Friday, July 17th. Zacks Investment Research cut shares of National CineMedia from a buy rating to a hold rating in a research report on Saturday, July 18th. TheStreet cut shares of National CineMedia from a c rating to a d+ rating in a research report on Wednesday, April 29th. Finally, B. Riley reissued a buy rating and issued a $6.00 price target on shares of National CineMedia in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $7.21.

National CineMedia stock opened at $2.47 on Wednesday. The stock has a market cap of $206.23 million, a P/E ratio of 6.17 and a beta of 1.04. The company has a fifty day simple moving average of $3.03 and a 200-day simple moving average of $4.39. National CineMedia has a 12-month low of $1.62 and a 12-month high of $9.85.

National CineMedia (NASDAQ:NCMI) last released its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01). The firm had revenue of $64.70 million for the quarter, compared to analysts’ expectations of $64.23 million. National CineMedia had a negative return on equity of 27.33% and a net margin of 7.74%. National CineMedia’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period last year, the firm posted ($0.01) earnings per share. On average, sell-side analysts expect that National CineMedia will post -0.38 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in National CineMedia by 0.6% in the first quarter. BlackRock Inc. now owns 4,657,058 shares of the business services provider’s stock valued at $15,183,000 after purchasing an additional 28,827 shares during the period. Wasatch Advisors Inc. increased its stake in National CineMedia by 29.9% in the first quarter. Wasatch Advisors Inc. now owns 3,562,752 shares of the business services provider’s stock valued at $11,615,000 after purchasing an additional 820,456 shares during the period. Geode Capital Management LLC increased its stake in National CineMedia by 8.8% in the first quarter. Geode Capital Management LLC now owns 957,641 shares of the business services provider’s stock valued at $3,121,000 after purchasing an additional 77,320 shares during the period. Invesco Ltd. increased its stake in National CineMedia by 8.4% in the first quarter. Invesco Ltd. now owns 783,192 shares of the business services provider’s stock valued at $2,554,000 after purchasing an additional 60,632 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in shares of National CineMedia by 33.0% during the first quarter. Nuveen Asset Management LLC now owns 360,209 shares of the business services provider’s stock worth $1,175,000 after acquiring an additional 89,437 shares during the period. Institutional investors own 96.79% 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.

Further Reading: What is meant by a buy rating?

Analyst Recommendations for National CineMedia (NASDAQ:NCMI)

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