Zacks Investment Research upgraded shares of Regal Entertainment Group (NYSE:RGC) from a sell rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “Regal Entertainment Group is a leading motion picture exhibitor operating the largest theatre circuit in the United States. The Company’s nationwide theatre circuit is comprised of Regal Cinemas Corporation, United Artists Theatre Company and Edwards Theatres, Inc. “
A number of other equities research analysts have also recently commented on the stock. Morgan Stanley increased their price target on shares of Regal Entertainment Group from $17.00 to $18.00 and gave the company an equal weight rating in a report on Thursday, October 26th. Royal Bank Of Canada upgraded shares of Regal Entertainment Group from a sector perform rating to an outperform rating and increased their price target for the company from $19.00 to $20.00 in a report on Thursday, October 26th. They noted that the move was a valuation call. Wedbush set a $20.00 price target on shares of Regal Entertainment Group and gave the company a buy rating in a report on Wednesday, October 25th. B. Riley reiterated a buy rating and set a $24.75 price target (up previously from $24.00) on shares of Regal Entertainment Group in a report on Wednesday, October 25th. Finally, Loop Capital cut their price target on shares of Regal Entertainment Group from $25.00 to $24.00 and set a buy rating on the stock in a report on Monday, October 23rd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Regal Entertainment Group presently has a consensus rating of Hold and a consensus target price of $20.90.
Shares of Regal Entertainment Group (RGC) traded down $0.28 on Wednesday, reaching $15.11. 3,422,381 shares of the company’s stock were exchanged, compared to its average volume of 3,328,495. The stock has a market capitalization of $2,416.72, a PE ratio of 17.49, a PEG ratio of 1.66 and a beta of 1.05. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of -2.84. Regal Entertainment Group has a twelve month low of $13.90 and a twelve month high of $24.79.
Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.03. Regal Entertainment Group had a net margin of 4.41% and a negative return on equity of 16.36%. The firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $701.66 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. sell-side analysts forecast that Regal Entertainment Group will post 0.93 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, December 1st. This represents a $0.88 dividend on an annualized basis and a yield of 5.82%. Regal Entertainment Group’s dividend payout ratio (DPR) is 101.15%.
Regal Entertainment Group declared that its Board of Directors has authorized a share buyback plan on Thursday, August 31st that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other Regal Entertainment Group news, CFO David Ownby purchased 7,500 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were acquired at an average cost of $14.04 per share, for a total transaction of $105,300.00. Following the completion of the transaction, the chief financial officer now owns 229,573 shares of the company’s stock, valued at $3,223,204.92. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas D. Bell, Jr. purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the completion of the transaction, the director now directly owns 126,939 shares of the company’s stock, valued at approximately $1,873,619.64. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 242,500 shares of company stock worth $641,000. 2.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Regal Entertainment Group by 3.0% in the second quarter. Vanguard Group Inc. now owns 13,209,774 shares of the company’s stock worth $270,273,000 after acquiring an additional 380,951 shares during the period. Alliancebernstein L.P. raised its position in Regal Entertainment Group by 11.6% in the second quarter. Alliancebernstein L.P. now owns 10,092,993 shares of the company’s stock worth $206,503,000 after acquiring an additional 1,048,051 shares during the period. Epoch Investment Partners Inc. raised its position in Regal Entertainment Group by 1.4% in the second quarter. Epoch Investment Partners Inc. now owns 7,261,026 shares of the company’s stock worth $148,561,000 after acquiring an additional 103,100 shares during the period. Eagle Asset Management Inc. raised its position in Regal Entertainment Group by 18.3% in the third quarter. Eagle Asset Management Inc. now owns 5,557,432 shares of the company’s stock worth $89,919,000 after acquiring an additional 857,787 shares during the period. Finally, BlackRock Inc. raised its position in Regal Entertainment Group by 20.7% in the second quarter. BlackRock Inc. now owns 4,659,346 shares of the company’s stock worth $95,330,000 after acquiring an additional 797,847 shares during the period. Institutional investors and hedge funds own 82.71% 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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