JPMorgan Chase & Co. Downgrades National CineMedia, Inc. (NCMI) to Neutral

JPMorgan Chase & Co. downgraded shares of National CineMedia, Inc. (NASDAQ:NCMI) from an overweight rating to a neutral rating in a report released on Monday, StockTargetPrices.com reports. They currently have $12.00 price objective on the business services provider’s stock, down from their previous price objective of $17.00.

Other equities analysts have also recently issued research reports about the company. B. Riley restated a buy rating and issued a $14.00 price objective on shares of National CineMedia in a report on Sunday, May 7th. Zacks Investment Research cut National CineMedia from a buy rating to a hold rating in a report on Saturday, February 25th. Barrington Research cut National CineMedia from an outperform rating to a market perform rating in a report on Friday, May 5th. FBR & Co cut National CineMedia from an outperform rating to a market perform rating and set a $12.00 price target for the company. in a report on Friday, May 5th. Finally, Credit Suisse Group AG upgraded National CineMedia from an underperform rating to a neutral rating and reduced their price target for the stock from $13.00 to $12.00 in a report on Wednesday, March 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $14.65.

Analyst Recommendations for National CineMedia (NASDAQ:NCMI)

National CineMedia (NASDAQ:NCMI) traded up 1.48% during trading on Monday, hitting $7.53. The company had a trading volume of 391,078 shares. The stock has a market capitalization of $456.28 million, a PE ratio of 18.46 and a beta of 0.89. National CineMedia has a one year low of $7.22 and a one year high of $16.10. The stock has a 50-day moving average of $11.06 and a 200-day moving average of $13.34.

National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings data on Thursday, May 4th. The business services provider reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The company had revenue of $71.90 million during the quarter, compared to the consensus estimate of $73.82 million. National CineMedia had a net margin of 3.92% and a negative return on equity of 13.70%. National CineMedia’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) EPS. On average, equities analysts anticipate that National CineMedia will post $0.33 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 11.86%. The ex-dividend date is Tuesday, May 16th. National CineMedia’s dividend payout ratio is presently 314.30%.

Several large investors have recently modified their holdings of NCMI. Bank of New York Mellon Corp boosted its stake in shares of National CineMedia by 7.6% in the third quarter. Bank of New York Mellon Corp now owns 680,033 shares of the business services provider’s stock worth $10,010,000 after buying an additional 48,261 shares in the last quarter. First Dallas Securities Inc. boosted its stake in shares of National CineMedia by 0.6% in the third quarter. First Dallas Securities Inc. now owns 17,281 shares of the business services provider’s stock worth $255,000 after buying an additional 108 shares in the last quarter. Phocas Financial Corp. boosted its stake in shares of National CineMedia by 6.5% in the third quarter. Phocas Financial Corp. now owns 462,853 shares of the business services provider’s stock worth $6,813,000 after buying an additional 28,244 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of National CineMedia during the fourth quarter worth about $710,000. Finally, State Street Corp boosted its stake in shares of National CineMedia by 5.5% in the fourth quarter. State Street Corp now owns 1,333,819 shares of the business services provider’s stock worth $19,649,000 after buying an additional 69,689 shares in the last quarter. Institutional investors own 91.92% of the company’s stock.

About National CineMedia

National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). The Company operates digital in-theater network in North America, allowing NCM LLC to sell advertising and certain third-party theater circuits under long-term network affiliate agreements.

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