National CineMedia (NASDAQ:NCMI) Given New $7.00 Price Target at Benchmark

National CineMedia (NASDAQ:NCMI - Get Free Report) had its target price reduced by investment analysts at Benchmark from $8.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the business services provider's stock. Benchmark's price objective would suggest a potential upside of 33.84% from the company's current price.

NCMI has been the subject of several other research reports. William Blair restated a "neutral" rating and issued a $7.50 price objective on shares of National CineMedia in a research report on Friday, March 7th. Wedbush reissued an "outperform" rating and issued a $7.50 price target on shares of National CineMedia in a report on Thursday, May 1st. Barrington Research restated an "outperform" rating and issued a $7.00 price objective on shares of National CineMedia in a research report on Friday, March 14th. Wall Street Zen downgraded National CineMedia from a "hold" rating to a "sell" rating in a report on Thursday, May 8th. Finally, B. Riley cut National CineMedia from a "buy" rating to a "neutral" rating and set a $6.00 target price for the company. in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $7.00.

National CineMedia Stock Performance

Shares of National CineMedia stock opened at $5.23 on Wednesday. The firm's 50-day moving average price is $5.37 and its two-hundred day moving average price is $6.06. National CineMedia has a 1-year low of $4.12 and a 1-year high of $7.60. The stock has a market capitalization of $493.19 million, a price-to-earnings ratio of -27.53 and a beta of 2.12.

National CineMedia (NASDAQ:NCMI - Get Free Report) last announced its earnings results on Tuesday, May 6th. The business services provider reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). National CineMedia had a negative return on equity of 2.83% and a negative net margin of 7.68%. The business had revenue of $34.90 million for the quarter, compared to the consensus estimate of $35.13 million. As a group, equities research analysts predict that National CineMedia will post -0.12 EPS for the current year.

Institutional Trading of National CineMedia

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of National CineMedia by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 4,358,287 shares of the business services provider's stock worth $25,452,000 after purchasing an additional 232,702 shares during the last quarter. Wellington Management Group LLP boosted its holdings in National CineMedia by 21.1% during the first quarter. Wellington Management Group LLP now owns 3,538,933 shares of the business services provider's stock worth $20,667,000 after buying an additional 615,417 shares during the last quarter. Sycale Advisors NY LLC acquired a new position in shares of National CineMedia during the 4th quarter worth about $14,147,000. Charles Schwab Investment Management Inc. grew its position in shares of National CineMedia by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 728,915 shares of the business services provider's stock worth $4,840,000 after buying an additional 7,218 shares during the period. Finally, Hudson Bay Capital Management LP bought a new stake in shares of National CineMedia in the 4th quarter valued at about $4,546,000. Institutional investors own 69.49% of the company's stock.

National CineMedia Company Profile

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.

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