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

Zacks Investment Research cut shares of National CineMedia (NASDAQ:NCMI) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, 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. “

NCMI has been the subject of several other research reports. Wedbush reiterated a buy rating and issued a $38.00 price objective on shares of Obseva in a research note on Wednesday, June 19th. Barrington Research reiterated a market perform rating on shares of National CineMedia in a research note on Friday, May 17th. TheStreet upgraded shares of Rent-A-Center from a c rating to a b- rating in a research note on Tuesday, May 7th. ValuEngine upgraded shares of XOMA from a sell rating to a hold rating in a research note on Friday, May 24th. Finally, BidaskClub upgraded shares of Zillow Group from a buy rating to a strong-buy rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. National CineMedia has a consensus rating of Hold and an average price target of $8.94.



Shares of NASDAQ:NCMI opened at $7.07 on Wednesday. The stock has a market capitalization of $558.30 million, a P/E ratio of 17.24 and a beta of 0.75. The company has a 50-day moving average price of $6.64. National CineMedia has a fifty-two week low of $5.88 and a fifty-two week high of $10.94.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its stake in shares of National CineMedia by 8.4% in the second quarter. Nisa Investment Advisors LLC now owns 64,790 shares of the business services provider’s stock valued at $425,000 after purchasing an additional 5,000 shares during the period. Supplemental Annuity Collective Trust of NJ raised its position in National CineMedia by 5.7% during 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. WINTON GROUP Ltd acquired a new position in National CineMedia during the second quarter worth about $162,000. Meitav Dash Investments Ltd. acquired a new position in National CineMedia during the first quarter worth about $120,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in National CineMedia during the first quarter worth about $445,000. Hedge funds and other institutional investors own 90.18% 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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