These Analysts Raise Their Forecasts On National CineMedia After Earnings Beat
Portfolio Pulse from Avi Kapoor
National CineMedia, Inc. (NASDAQ:NCMI) reported Q4 results surpassing expectations with $90.9 million in revenue and EPS of 24 cents, against consensus estimates of $81.1 million and 9 cents, respectively. The company anticipates Q1 2024 revenue between $34.5 million and $35.5 million, above the consensus of $32.47 million. A new $100 million share repurchase program was announced. Following the earnings beat, B. Riley Securities and Wedbush adjusted their price targets for NCMI to $6.75 (from $4.5) and $5.5 (from $4.5), respectively, with B. Riley upgrading the stock to Buy.
March 19, 2024 | 2:41 pm
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National CineMedia reported higher than expected Q4 earnings and revenue, announced a $100M share repurchase program, and received upgraded price targets from B. Riley Securities and Wedbush.
The positive earnings report, coupled with the announcement of a significant share repurchase program and upgraded price targets from analysts, is likely to instill confidence among investors, potentially driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100