National CineMedia (NASDAQ:NCMI) Reaches New 52-Week High at $7.01

National CineMedia, Inc. (NASDAQ:NCMI)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $7.01 and last traded at $6.97, with a volume of 309724 shares trading hands. The stock had previously closed at $6.85.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NCMI shares. B. Riley raised their target price on National CineMedia from $7.50 to $8.50 and gave the stock a “buy” rating in a research note on Friday, August 16th. Wedbush restated a “neutral” rating and issued a $6.00 price objective on shares of National CineMedia in a research report on Tuesday, August 6th. Barrington Research raised shares of National CineMedia from a “market perform” rating to an “outperform” rating and set a $7.50 price objective for the company in a research note on Tuesday, August 6th. Finally, Benchmark reiterated a “speculative buy” rating and issued a $6.00 target price on shares of National CineMedia in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.00.

National CineMedia Trading Down 0.8 %

The stock has a market cap of $676.01 million, a PE ratio of 0.21 and a beta of 2.08. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $6.16 and a two-hundred day simple moving average of $5.25.

National CineMedia (NASDAQ:NCMI) last announced its earnings results on Monday, August 5th. The business services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). National CineMedia had a net margin of 78.04% and a return on equity of 3.50%. The company had revenue of $54.70 million during the quarter, compared to analysts’ expectations of $49.87 million. During the same period in the prior year, the business earned ($0.07) earnings per share. As a group, equities analysts expect that National CineMedia, Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On National CineMedia

A number of large investors have recently added to or reduced their stakes in NCMI. SG Americas Securities LLC bought a new position in shares of National CineMedia during the 2nd quarter valued at about $56,000. Fermata Advisors LLC purchased a new stake in National CineMedia in the second quarter worth approximately $92,000. Bayesian Capital Management LP purchased a new stake in National CineMedia in the first quarter worth approximately $104,000. Oppenheimer Asset Management Inc. raised its stake in shares of National CineMedia by 38.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 23,897 shares of the business services provider’s stock worth $123,000 after acquiring an additional 6,690 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of National CineMedia in the 2nd quarter worth approximately $124,000. Hedge funds and other 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.