Wedbush Comments on National CineMedia Inc.’s FY2016 Earnings (NCMI)
National CineMedia Inc. (NASDAQ:NCMI) – Wedbush boosted their FY2016 earnings per share estimates for National CineMedia in a report released on Tuesday. Wedbush analyst J. Dix now forecasts that the brokerage will post earnings per share of $0.39 for the year, up from their previous estimate of $0.37. Wedbush has a “Outperform” rating and a $17.50 price objective on the stock. Wedbush also issued estimates for National CineMedia’s FY2017 earnings at $0.43 EPS.
National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. National CineMedia had a negative return on equity of 13.70% and a net margin of 3.92%. The firm earned $113.50 million during the quarter, compared to analysts’ expectations of $114.52 million. During the same quarter last year, the firm posted $0.13 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised National CineMedia from a “sell” rating to a “hold” rating in a research note on Tuesday, October 18th. Stifel Nicolaus lowered National CineMedia from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. FBR & Co lowered their target price on National CineMedia from $18.50 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, August 9th. Benchmark Co. boosted their target price on National CineMedia from $17.81 to $18.08 and gave the company a “buy” rating in a research note on Tuesday. Finally, B. Riley reissued a “buy” rating and issued a $18.75 target price (down previously from $20.00) on shares of National CineMedia in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $18.06.
Shares of National CineMedia (NASDAQ:NCMI) opened at 14.54 on Wednesday. The firm has a market cap of $870.02 million, a PE ratio of 52.30 and a beta of 0.87. National CineMedia has a 52 week low of $13.37 and a 52 week high of $16.33. The firm has a 50-day moving average price of $14.24 and a 200-day moving average price of $14.74.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend is Wednesday, November 16th. National CineMedia’s payout ratio is 314.30%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in National CineMedia by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 631,772 shares of the company’s stock worth $9,779,000 after buying an additional 21,739 shares during the last quarter. Quantitative Systematic Strategies LLC raised its position in National CineMedia by 17.0% in the second quarter. Quantitative Systematic Strategies LLC now owns 11,708 shares of the company’s stock worth $174,000 after buying an additional 1,699 shares during the last quarter. First Dallas Securities Inc. raised its position in National CineMedia by 4.6% in the second quarter. First Dallas Securities Inc. now owns 17,173 shares of the company’s stock worth $266,000 after buying an additional 749 shares during the last quarter. Bank of Montreal Can acquired a new position in National CineMedia during the second quarter worth approximately $6,764,000. Finally, Gilman Hill Asset Management LLC raised its position in National CineMedia by 3.5% in the second quarter. Gilman Hill Asset Management LLC now owns 259,200 shares of the company’s stock worth $4,012,000 after buying an additional 8,664 shares during the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.
National CineMedia Company Profile
National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). NCM LLC operates the digital in-theatre media network in North America, through which it sells in-theatre and online advertising and promotions. The Company is engaged in advertising business.
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