B.Riley FBR analyst Eric Wold reiterated a Buy rating on National Cinemedia (NASDAQ: NCMI) today and set a price target of $10.50. The company’s shares closed yesterday at $8.46, close to its 52-week high of $8.88.
Wold noted:
“After the close on CineMedia (NCMI) reported 2Q18 results that exceeded our above-consensus estimates for both revenues and adjusted OIBDA as previewed on Monday, 7/30. While we went into the 2Q18 print expecting a strong rebound in both average advertising revenues per screen and CPMs given the easy Y/Y comparison, strong scatter advertising demand trends, and an improved regional/local sales force effort), we came away increasingly optimistic on underlying demand trends for the in-theater advertising segment and stronger visibility into the coming quarters (stemming from solid upfront commitments, enhanced advertiser brand relationships, strengthened Founding Member relationships and the digital offering expected to become a positive tailwind).”
According to TipRanks.com, Wold is a 5-star analyst with an average return of 8.5% and a 58.0% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and AMC Entertainment.
Currently, the analyst consensus on National Cinemedia is a Moderate Buy with an average price target of $10.50.
See today’s analyst top recommended stocks >>
Based on National Cinemedia’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $4.2 million. In comparison, last year the company had a net profit of $1.5 million.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is neutral on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
National CineMedia, Inc. is a holding company, which engages in the provision of advertising, business meetings, event services, and third-party theatre circuits under network affiliate agreements. It owns and operates the digital in-theatre network, which is used to distribute content for its advertising promotions, Fathom Events.
