Wedbush reaffirmed their buy rating on shares of Regal Entertainment Group (NYSE:RGC) in a research note issued to investors on Thursday, July 27th. Wedbush also issued estimates for Regal Entertainment Group’s FY2017 earnings at $1.01 EPS, Q2 2018 earnings at $0.25 EPS and FY2018 earnings at $1.27 EPS.
A number of other research firms also recently commented on RGC. Royal Bank Of Canada dropped their target price on shares of Regal Entertainment Group from $25.00 to $22.00 and set a sector perform rating on the stock in a research report on Thursday, June 22nd. B. Riley upgraded shares of Regal Entertainment Group to a buy rating and set a $28.75 target price for the company in a research note on Saturday, April 29th. Loop Capital upgraded shares of Regal Entertainment Group from a hold rating to a buy rating and raised their target price for the stock from $23.00 to $25.00 in a research note on Tuesday, May 16th. Zacks Investment Research upgraded shares of Regal Entertainment Group from a hold rating to a buy rating and set a $25.00 price objective for the company in a research note on Thursday, April 20th. Finally, FBR & Co restated a hold rating and set a $23.00 target price on shares of Regal Entertainment Group in a report on Monday, April 3rd. Five research analysts have rated the stock with a sell rating, three have given 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 currently has a consensus rating of Hold and a consensus price target of $24.57.
Regal Entertainment Group (RGC) traded down 1.15% during mid-day trading on Thursday, reaching $18.05. The company’s stock had a trading volume of 1,057,134 shares. Regal Entertainment Group has a 12-month low of $17.99 and a 12-month high of $24.79. The company has a 50-day moving average price of $19.80 and a 200-day moving average price of $21.23. The firm has a market cap of $2.83 billion, a PE ratio of 16.74 and a beta of 0.92.
Regal Entertainment Group (NYSE:RGC) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.02. Regal Entertainment Group had a net margin of 5.24% and a negative return on equity of 20.38%. The firm had revenue of $764.20 million during the quarter, compared to analysts’ expectations of $764.15 million. During the same period in the prior year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities research analysts expect that Regal Entertainment Group will post $1.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.88 annualized dividend and a yield of 4.82%. Regal Entertainment Group’s payout ratio is presently 82.24%.
A number of institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. purchased a new position in Regal Entertainment Group during the first quarter worth approximately $1,856,000. Barings LLC boosted its stake in shares of Regal Entertainment Group by 60.0% in the first quarter. Barings LLC now owns 110,858 shares of the company’s stock worth $2,503,000 after buying an additional 41,558 shares during the last quarter. Dynamic Advisors Solutions LLC boosted its stake in shares of Regal Entertainment Group by 4.3% in the first quarter. Dynamic Advisors Solutions LLC now owns 176,065 shares of the company’s stock worth $3,976,000 after buying an additional 7,240 shares during the last quarter. Norges Bank bought a new stake in shares of Regal Entertainment Group during the fourth quarter worth about $24,513,000. Finally, Asset Management One Co. Ltd. boosted its stake in Regal Entertainment Group by 85.4% in the first quarter. Asset Management One Co. Ltd. now owns 149,421 shares of the company’s stock valued at $3,380,000 after buying an additional 68,842 shares in the last quarter. Hedge funds and other institutional investors own 77.16% of the company’s stock.
About Regal Entertainment Group
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.
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