National CineMedia, Inc. (NCMI) Announces $0.17 Quarterly Dividend

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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.

National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings results on Monday, November 5th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $110.10 million for the quarter, compared to the consensus estimate of $117.48 million. National CineMedia had a net margin of 1.40% and a negative return on equity of 50.95%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 EPS. As a group, sell-side analysts forecast that National CineMedia will post 0.38 earnings per share for the current year.

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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Dividend History for National CineMedia (NASDAQ:NCMI)

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