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

National CineMedia (NASDAQ:NCMI) posted its earnings results on Monday. The business services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01), Yahoo Finance reports. The company had revenue of $90.90 million for the quarter, compared to analyst estimates of $77.25 million. National CineMedia updated its Q1 2024 guidance to EPS.

National CineMedia Stock Up 2.4 %

NCMI stock traded up $0.12 during trading on Wednesday, reaching $5.18. The stock had a trading volume of 736,460 shares, compared to its average volume of 502,541. National CineMedia has a 1-year low of $1.11 and a 1-year high of $6.49. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $501.35 million, a P/E ratio of 0.16 and a beta of 1.86. The firm has a fifty day moving average price of $4.12 and a 200 day moving average price of $4.17.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NCMI. B. Riley upgraded shares of National CineMedia from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.50 to $6.75 in a report on Tuesday. Benchmark restated a “speculative buy” rating and set a $6.00 target price on shares of National CineMedia in a report on Wednesday. StockNews.com upgraded shares of National CineMedia from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Wedbush lifted their target price on shares of National CineMedia from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Tuesday.

Hedge Funds Weigh In On National CineMedia

A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in National CineMedia by 1,792,883.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,755,476 shares of the business services provider’s stock worth $25,842,000 after buying an additional 5,755,155 shares in the last quarter. Vanguard Group Inc. increased its position in shares of National CineMedia by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 3,566,209 shares of the business services provider’s stock worth $14,764,000 after purchasing an additional 79,276 shares during the last quarter. Barclays PLC bought a new stake in shares of National CineMedia in the 4th quarter worth about $12,504,000. Millennium Management LLC increased its position in shares of National CineMedia by 1,126.3% in the 4th quarter. Millennium Management LLC now owns 2,336,927 shares of the business services provider’s stock worth $514,000 after purchasing an additional 2,146,354 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of National CineMedia by 349.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,557,060 shares of the business services provider’s stock worth $6,446,000 after purchasing an additional 1,210,985 shares during the last quarter.

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 pre-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.