Wedbush Has Bearish Forecast for NCMI FY2024 Earnings

National CineMedia, Inc. (NASDAQ:NCMI) – Investment analysts at Wedbush lowered their FY2024 earnings per share estimates for shares of National CineMedia in a research report issued on Wednesday, November 6th. Wedbush analyst A. Reese now expects that the business services provider will earn ($0.01) per share for the year, down from their previous estimate of $0.07. Wedbush 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) last posted 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 return on equity of 3.50% and a net margin of 78.04%. The firm had revenue of $62.40 million for the quarter, compared to analyst estimates of $58.20 million. During the same period in the previous year, the company posted $0.33 EPS.

Other equities research analysts have also issued research reports about the company. Benchmark reaffirmed a “buy” rating and issued a $8.00 price target on shares of National CineMedia in a research report on Monday, September 23rd. Barrington Research increased their price target on National CineMedia from $7.50 to $8.25 and gave the company an “outperform” rating in a research report on Wednesday. Finally, B. Riley increased their price target on National CineMedia from $7.50 to $8.50 and gave the company a “buy” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.06.

National CineMedia Price Performance

NCMI stock opened at $6.61 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.45 and a quick ratio of 2.45. The firm has a market capitalization of $637.84 million, a P/E ratio of 2.46 and a beta of 2.07. The business’s 50-day moving average is $6.88 and its two-hundred day moving average is $5.79. National CineMedia has a 1 year low of $3.63 and a 1 year high of $7.39.

Institutional Investors Weigh In On National CineMedia

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Eagle Investment Management LLC raised its position in shares of National CineMedia by 37.6% during the 1st quarter. First Eagle Investment Management LLC now owns 1,966,355 shares of the business services provider’s stock worth $10,127,000 after acquiring an additional 537,822 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of National CineMedia by 270.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 208,649 shares of the business services provider’s stock worth $916,000 after acquiring an additional 152,251 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of National CineMedia during the 2nd quarter worth about $427,000. Bank of New York Mellon Corp acquired a new stake in shares of National CineMedia during the 2nd quarter worth about $979,000. Finally, Oppenheimer Asset Management Inc. grew its stake in National CineMedia by 38.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 23,897 shares of the business services provider’s stock worth $123,000 after buying an additional 6,690 shares during the last quarter. Institutional investors and hedge funds 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.