National CineMedia, Inc. (NASDAQ:NCMI) announced a quarterly dividend on Tuesday, November 6th, Wall Street Journal reports. Stockholders of record on Thursday, November 15th will be paid a dividend of 0.17 per share by the business services provider on Friday, November 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 9.37%. The ex-dividend date is Wednesday, November 14th.
National CineMedia has a dividend payout ratio of 178.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect National CineMedia to earn $0.45 per share next year, which means the company may not be able to cover its $0.68 annual dividend with an expected future payout ratio of 151.1%.
Shares of NASDAQ NCMI opened at $7.26 on Wednesday. The stock has a market cap of $680.15 million, a PE ratio of 18.14 and a beta of 0.83. National CineMedia has a 52-week low of $5.09 and a 52-week high of $10.94.
In other news, major shareholder General L.P. Standard purchased 46,439 shares of the stock in a transaction on Thursday, August 9th. The shares were acquired at an average price of $8.55 per share, with a total value of $397,053.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Clifford E. Marks sold 30,237 shares of National CineMedia stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $10.00, for a total transaction of $302,370.00. Following the transaction, the president now directly owns 526,868 shares in the company, valued at approximately $5,268,680. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
NCMI has been the topic of a number of research reports. BidaskClub downgraded shares of National CineMedia from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 27th. Zacks Investment Research raised shares of National CineMedia from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Wednesday, October 10th. B. Riley raised their price objective on shares of National CineMedia from $10.50 to $11.50 and gave the stock a “buy” rating in a report on Monday, September 24th. ValuEngine raised shares of National CineMedia from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Finally, MKM Partners raised their price objective on shares of National CineMedia to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $9.30.
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National CineMedia Company Profile
National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates an in-theatre digital media network in North America. The company produces and distributes various versions of Noovie, a cinema advertising and entertainment pre-show on movie screens; sells advertising on its lobby entertainment network; and other forms of advertising and promotions in theatre lobbies.
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