Wedbush Reduces Earnings Estimates for National CineMedia

National CineMedia, Inc. (NASDAQ:NCMI - Free Report) - Investment analysts at Wedbush dropped their FY2024 earnings estimates for shares of National CineMedia in a research note issued to investors on Wednesday, November 6th. Wedbush analyst A. Reese now anticipates that the business services provider will post earnings per share of ($0.01) for the year, down from their previous forecast of $0.07. Wedbush currently has a "Neutral" rating and a $7.50 price target 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 Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at $0.01 EPS, Q4 2025 earnings at $0.51 EPS, FY2025 earnings at $0.25 EPS and FY2026 earnings at $0.32 EPS.

National CineMedia (NASDAQ:NCMI - Get Free Report) last released its 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). National CineMedia had a net margin of 78.04% and a return on equity of 3.50%. The firm had revenue of $62.40 million during the quarter, compared to analyst estimates of $58.20 million. During the same period in the previous year, the company earned $0.33 earnings per share.

NCMI has been the topic of several other reports. Barrington Research upped their price objective on shares of National CineMedia from $7.50 to $8.25 and gave the company an "outperform" rating in a report on Wednesday. Benchmark reaffirmed a "buy" rating and issued a $8.00 price target on shares of National CineMedia in a report on Monday, September 23rd. Finally, B. Riley lifted their price objective on National CineMedia from $7.50 to $8.50 and gave the company a "buy" rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, National CineMedia presently has a consensus rating of "Hold" and a consensus price target of $8.06.

National CineMedia Stock Performance

Shares of NASDAQ:NCMI traded down $0.31 during trading on Friday, hitting $6.30. The stock had a trading volume of 694,601 shares, compared to its average volume of 612,872. The stock has a 50-day simple moving average of $6.88 and a two-hundred day simple moving average of $5.79. The stock has a market capitalization of $597.96 million, a price-to-earnings ratio of -25.20 and a beta of 2.07. National CineMedia has a 12-month low of $3.63 and a 12-month high of $7.39. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NCMI. Vanguard Group Inc. grew its position in shares of National CineMedia by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 3,584,556 shares of the business services provider's stock valued at $18,460,000 after acquiring an additional 18,347 shares during the period. First Eagle Investment Management LLC increased its position in shares of National CineMedia by 37.6% in the first quarter. First Eagle Investment Management LLC now owns 1,966,355 shares of the business services provider's stock valued at $10,127,000 after buying an additional 537,822 shares in the last quarter. Ancora Advisors LLC raised its stake in shares of National CineMedia by 64.2% during the 1st quarter. Ancora Advisors LLC now owns 1,136,476 shares of the business services provider's stock worth $5,853,000 after buying an additional 444,433 shares during the period. Luxor Capital Group LP lifted its position in shares of National CineMedia by 1,581.1% during the 2nd quarter. Luxor Capital Group LP now owns 490,809 shares of the business services provider's stock valued at $2,155,000 after buying an additional 461,614 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of National CineMedia by 124.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 469,338 shares of the business services provider's stock valued at $3,309,000 after buying an additional 260,689 shares in the last quarter. Hedge funds and other institutional investors own 69.49% of the company's stock.

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.