In a report released today, Eric Wold from B.Riley FBR maintained a Buy rating on National Cinemedia (NCMI), with a price target of $9.75. The company’s shares closed yesterday at $6.92.
Wold wrote:
“After the close CineMedia (NCMI) reported 2Q19 results that came in below consensus expectations—as the recently-elevated make-good balance stayed high after a weaker-than-expected June box office. However, we remain confident in stronger 2H19 box office/attendance trends and the opportunity for that make-good headwind to actually turn into a tailwind. With an increasing push for upfront commitments vs. scatter advertising from NCMI’s clients, we believe the company will benefit from improving visibility and an opportunity to create larger campaigns that incorporate the company’s digital offering (especially with local advertisers looking for a way to connect and engage with local customers).”
According to TipRanks.com, Wold has 0 stars on 0-5 star ranking scale with an average return of -7.7% 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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National Cinemedia’s market cap is currently $546.5M and has a P/E ratio of 17.65. The company has a Price to Book ratio of -1.41.
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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.
