Wedbush Reaffirms “Outperform” Rating for Regal Entertainment Group (RGC)

Wedbush restated their outperform rating on shares of Regal Entertainment Group (NYSE:RGC) in a report issued on Thursday, July 20th. They currently have a $23.00 price objective on the stock.

RGC has been the topic of several other reports. Royal Bank Of Canada reiterated a hold rating on shares of Regal Entertainment Group in a research report on Thursday, April 27th. Hilliard Lyons upgraded shares of Regal Entertainment Group to a buy rating in a research report on Thursday, May 18th. They noted that the move was a valuation call. B. Riley reiterated a buy rating and issued a $28.75 price objective on shares of Regal Entertainment Group in a research report on Wednesday, April 19th. MKM Partners reiterated a neutral rating and issued a $24.00 price objective (up from $23.00) on shares of Regal Entertainment Group in a research report on Wednesday, April 26th. Finally, Zacks Investment Research downgraded shares of Regal Entertainment Group from a hold rating to a sell rating in a research report on Thursday, June 29th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Regal Entertainment Group has an average rating of Hold and an average target price of $24.57.

Regal Entertainment Group (NYSE:RGC) opened at 18.91 on Thursday. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 17.54 and a beta of 0.92. The stock’s 50 day moving average is $19.99 and its 200-day moving average is $21.29. Regal Entertainment Group has a 52 week low of $18.60 and a 52 week high of $24.79.

Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The firm had revenue of $764.20 million during the quarter, compared to the consensus estimate of $764.15 million. Regal Entertainment Group had a net margin of 5.24% and a negative return on equity of 20.38%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. On average, equities research analysts expect that Regal Entertainment Group will post $1.05 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend is Thursday, August 31st. Regal Entertainment Group’s dividend payout ratio (DPR) is currently 82.24%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its position in Regal Entertainment Group by 164.3% in the second quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock valued at $111,000 after buying an additional 3,369 shares during the period. New York State Teachers Retirement System purchased a new position in Regal Entertainment Group during the fourth quarter valued at $148,000. Parallel Advisors LLC increased its position in Regal Entertainment Group by 2.1% in the first quarter. Parallel Advisors LLC now owns 7,045 shares of the company’s stock valued at $153,000 after buying an additional 145 shares during the period. Credit Agricole S A purchased a new position in Regal Entertainment Group during the fourth quarter valued at $165,000. Finally, Farmers National Bank increased its position in Regal Entertainment Group by 6.6% in the first quarter. Farmers National Bank now owns 8,100 shares of the company’s stock valued at $176,000 after buying an additional 500 shares during the period. 77.16% of the stock is currently owned by institutional investors and hedge funds.

Regal Entertainment Group Company Profile

Regal Entertainment Group is an operator of theatre circuits in the United States. As of March 31, 2017, the Company operated 7,262 screens in 559 theatres in 43 states along with Guam, Saipan, American Samoa and the District of Columbia. The Company manages its business under theatre exhibition operations segment.