National CineMedia (NASDAQ:NCMI) Posts Earnings Results, Misses Expectations By $0.01 EPS

National CineMedia (NASDAQ:NCMI) released its quarterly earnings results on Tuesday. The business services provider reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01), FiscalAI reports. National CineMedia had a negative net margin of 3.47% and a negative return on equity of 1.80%. The firm had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $59.34 million.

National CineMedia Stock Down 4.1%

NCMI traded down $0.16 during trading hours on Tuesday, hitting $3.79. 721,819 shares of the company’s stock were exchanged, compared to its average volume of 407,290. National CineMedia has a 12-month low of $2.78 and a 12-month high of $5.03. The firm has a 50 day moving average of $3.78 and a 200 day moving average of $3.51. The firm has a market cap of $355.43 million, a P/E ratio of -42.11 and a beta of 1.38. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.03.

Insider Buying and Selling

In other National CineMedia news, insider Maria Vg Woods sold 12,058 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $3.77, for a total value of $45,458.66. Following the completion of the transaction, the insider owned 163,162 shares of the company’s stock, valued at $615,120.74. This trade represents a 6.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On National CineMedia

Institutional investors and hedge funds have recently made changes to their positions in the stock. Orbis Allan Gray Ltd grew its holdings in National CineMedia by 79.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 9,523,889 shares of the business services provider’s stock worth $37,048,000 after acquiring an additional 4,218,288 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of National CineMedia by 34.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,151,313 shares of the business services provider’s stock valued at $27,742,000 after purchasing an additional 1,568,376 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of National CineMedia by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,519,377 shares of the business services provider’s stock valued at $20,382,000 after purchasing an additional 12,172 shares in the last quarter. Barclays PLC lifted its position in shares of National CineMedia by 30.1% during the 4th quarter. Barclays PLC now owns 2,003,352 shares of the business services provider’s stock worth $7,793,000 after purchasing an additional 463,112 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of National CineMedia by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,958,541 shares of the business services provider’s stock worth $7,621,000 after purchasing an additional 25,589 shares during the last quarter. 69.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NCMI has been the subject of several recent analyst reports. Wedbush cut their target price on National CineMedia from $6.50 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings lowered National CineMedia from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded National CineMedia from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.38.

National CineMedia Company Profile

National CineMedia, Inc is a leading U.S. out-of-home media company specializing in cinema advertising. The firm operates a proprietary network that delivers high-impact advertising content to moviegoers across a broad footprint of theaters, offering brands a targeted and immersive way to engage audiences in a captive, distraction-free environment.

Founded in 2003 and headquartered in Centennial, Colorado, National CineMedia began as a joint venture among several major exhibition chains.