Wedbush Weighs in on National CineMedia, Inc.’s FY2023 Earnings (NASDAQ:NCMI)

National CineMedia, Inc. (NASDAQ:NCMIGet Rating) – Analysts at Wedbush cut their FY2023 earnings estimates for shares of National CineMedia in a research report issued on Thursday, August 4th. Wedbush analyst A. Reese now anticipates that the business services provider will post earnings per share of $0.08 for the year, down from their prior estimate of $0.11. Wedbush has a “Outperform” rating and a $4.00 price target on the stock. The consensus estimate for National CineMedia’s current full-year earnings is ($0.22) per share. Wedbush also issued estimates for National CineMedia’s FY2024 earnings at $0.18 EPS.

Separately, B. Riley lowered their target price on shares of National CineMedia from $4.00 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 21st.

National CineMedia Stock Down 2.8 %

Shares of NCMI opened at $1.73 on Friday. National CineMedia has a 52-week low of $0.88 and a 52-week high of $3.97. The firm’s fifty day moving average is $1.18 and its two-hundred day moving average is $2.00. The stock has a market cap of $141.43 million, a PE ratio of -2.58 and a beta of 1.76.

National CineMedia (NASDAQ:NCMIGet Rating) last announced its earnings results on Monday, May 9th. The business services provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The business had revenue of $35.90 million for the quarter, compared to the consensus estimate of $33.45 million. During the same quarter in the previous year, the business posted ($0.25) earnings per share. The firm’s revenue was up 564.8% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in National CineMedia by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 3,121,904 shares of the business services provider’s stock valued at $7,930,000 after buying an additional 176,781 shares during the period. State Street Corp raised its holdings in National CineMedia by 2.9% in the 1st quarter. State Street Corp now owns 1,255,295 shares of the business services provider’s stock valued at $3,188,000 after buying an additional 35,491 shares during the period. Brookstone Capital Management raised its holdings in National CineMedia by 168.6% in the 2nd quarter. Brookstone Capital Management now owns 1,017,470 shares of the business services provider’s stock valued at $992,000 after buying an additional 638,641 shares during the period. Kalos Management Inc. raised its holdings in National CineMedia by 1.0% in the 4th quarter. Kalos Management Inc. now owns 753,023 shares of the business services provider’s stock valued at $2,929,000 after buying an additional 7,455 shares during the period. Finally, CastleKnight Management LP purchased a new stake in National CineMedia in the 4th quarter valued at about $1,418,000.

Insider Transactions at National CineMedia

In other news, CEO Thomas F. Lesinski sold 31,536 shares of National CineMedia stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $1.78, for a total transaction of $56,134.08. Following the transaction, the chief executive officer now owns 315,717 shares in the company, valued at approximately $561,976.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

National CineMedia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 7th. Stockholders of record on Monday, May 23rd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, May 20th. This represents a $0.12 annualized dividend and a dividend yield of 6.94%. National CineMedia’s dividend payout ratio is presently -17.91%.

National CineMedia Company Profile

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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.

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Earnings History and Estimates for National CineMedia (NASDAQ:NCMI)

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