Wedbush Reduces Earnings Estimates for National CineMedia

National CineMedia, Inc. (NASDAQ:NCMI - Free Report) - Analysts at Wedbush reduced their FY2024 earnings estimates for shares of National CineMedia in a research report issued to clients and investors on Monday, November 4th. Wedbush analyst A. Reese now forecasts that the business services provider will post earnings of $0.07 per share for the year, down from their previous estimate of $0.11. Wedbush currently has a "Neutral" rating and a $7.50 target price on the stock. The consensus estimate for National CineMedia's current full-year earnings is ($0.05) per share. Wedbush also issued estimates for National CineMedia's Q4 2024 earnings at $0.40 EPS, Q1 2025 earnings at ($0.16) EPS, FY2025 earnings at $0.43 EPS and FY2026 earnings at $0.49 EPS.

Several other research analysts also recently issued reports on NCMI. Benchmark reiterated a "buy" rating and set a $8.00 price target on shares of National CineMedia in a research report on Monday, September 23rd. Barrington Research boosted their price objective on National CineMedia from $7.50 to $8.25 and gave the stock an "outperform" rating in a report on Wednesday. Finally, B. Riley boosted their price objective on National CineMedia from $7.50 to $8.50 and gave the stock a "buy" rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, National CineMedia presently has an average rating of "Hold" and an average price target of $8.06.

National CineMedia Price Performance

NASDAQ NCMI traded down $0.77 on Wednesday, hitting $6.53. 1,951,744 shares of the company were exchanged, compared to its average volume of 612,593. The firm has a 50 day moving average of $6.89 and a two-hundred day moving average of $5.78. The company has a market cap of $630.60 million, a P/E ratio of 2.44 and a beta of 2.07. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.03. National CineMedia has a 1-year low of $3.63 and a 1-year high of $7.39.

National CineMedia (NASDAQ:NCMI - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The company had revenue of $62.40 million for the quarter, compared to analyst estimates of $58.20 million. National CineMedia had a return on equity of 3.50% and a net margin of 78.04%. During the same quarter last year, the company earned $0.33 EPS.

Institutional Trading of National CineMedia

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of National CineMedia in the 2nd quarter valued at about $56,000. Fermata Advisors LLC bought a new stake in shares of National CineMedia in the 2nd quarter valued at about $92,000. Bayesian Capital Management LP bought a new stake in shares of National CineMedia in the 1st quarter valued at about $104,000. Oppenheimer Asset Management Inc. grew its position in shares of National CineMedia by 38.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 23,897 shares of the business services provider's stock valued at $123,000 after purchasing an additional 6,690 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of National CineMedia in the 2nd quarter valued at approximately $124,000. 69.49% of the stock is owned by institutional investors.

About National CineMedia

National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates cinema advertising network in North America. It engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment 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.