In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on National Cinemedia (NASDAQ: NCMI), with a price target of $11.50. The company’s shares closed on Friday at $9.72, close to its 52-week high of $9.75.
Wold commented:
“We are revisiting National CineMedia (NCMI) ahead of the end of 3Q18 with a more optimistic view around underlying in-theater advertising trends driven by the meaningfully stronger-than- projected domestic box office, a high correlation between NCMI’s advertising revenues and box office trends, an improved regional/local salesforce as well as a flexible advertising platform that allows NCMI to take advantage of extra advertising dollars on a somewhat real-time basis. This is along with a more optimistic view around box office trends for both 2018 and 2019 and the potential for additional revenue tailwinds entering 2019 around the digital offering and moving advertisements into the movie trailer section.”
According to TipRanks.com, Wold is a 5-star analyst with an average return of 12.5% and a 61.8% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, AMC Entertainment, and Red Lion Hotels.
Currently, the analyst consensus on National Cinemedia is a Moderate Buy with an average price target of $10.25.
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The company has a one-year high of $9.75 and a one-year low of $5.09. Currently, National Cinemedia has an average volume of 450.5K.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NCMI in relation to earlier this year.
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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.
