B.Riley FBR Remains a Buy on National Cinemedia (NCMI)
In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on National Cinemedia (NCMI), with a price target of $9.75. The company’s shares closed yesterday at $7.25.
“National CineMedia (NCMI) is scheduled to report 2Q19 results after the close on a conference call at 5:00pm ET. We are lowering our 2Q19 estimates into the print on concerns that weaker-than-expected 2Q19 box office (almost entirely due to disappointing June titles) could keep the make-good balance elevated at quarter-end and push some advertising commitments into 2H19. Our full-year estimates remain unchanged and we do not see risk to management’s 2019 guidance ranges.”
According to TipRanks.com, Wold has currently no stars on a ranking scale of 0-5 stars, with an average return of -7.2% and a 33.7% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and AMC Entertainment.
National Cinemedia has an analyst consensus of Moderate Buy, with a price target consensus of $8.88.
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The company has a one-year high of $10.94 and a one-year low of $5.88. Currently, National Cinemedia has an average volume of 328.6K.
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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.