Regal Entertainment Group (RGC) Downgraded to Market Perform at Barrington Research

Barrington Research lowered shares of Regal Entertainment Group (NYSE:RGC) from an outperform rating to a market perform rating in a research note released on Tuesday.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Regal Entertainment Group from a sell rating to a hold rating in a research report on Wednesday, November 8th. B. Riley restated a buy rating and issued a $24.75 target price (up from $24.00) on shares of Regal Entertainment Group in a report on Wednesday, October 25th. MKM Partners upgraded Regal Entertainment Group from a neutral rating to a buy rating and lifted their target price for the stock from $20.00 to $22.00 in a report on Tuesday, September 5th. They noted that the move was a valuation call. Wedbush set a $20.00 target price on Regal Entertainment Group and gave the stock a buy rating in a report on Wednesday, October 25th. Finally, Loop Capital decreased their target price on Regal Entertainment Group from $25.00 to $24.00 and set a buy rating on the stock in a report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Regal Entertainment Group currently has a consensus rating of Hold and a consensus target price of $21.73.

Shares of Regal Entertainment Group (NYSE:RGC) traded up $1.95 during mid-day trading on Tuesday, hitting $22.68. The stock had a trading volume of 74,166,500 shares, compared to its average volume of 3,201,692. Regal Entertainment Group has a one year low of $13.90 and a one year high of $23.56. The firm has a market cap of $3,254.92, a PE ratio of 23.56, a PEG ratio of 2.18 and a beta of 1.14. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of -2.84.

Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The company had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $701.66 million. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. sell-side analysts predict that Regal Entertainment Group will post 0.95 EPS for the current year.

Regal Entertainment Group declared that its Board of Directors has authorized a share repurchase plan on Thursday, August 31st that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.88%. Regal Entertainment Group’s dividend payout ratio is 101.15%.

Several hedge funds have recently modified their holdings of RGC. Hamlin Capital Management LLC boosted its position in Regal Entertainment Group by 1.4% during the third quarter. Hamlin Capital Management LLC now owns 4,335,507 shares of the company’s stock valued at $69,368,000 after purchasing an additional 60,489 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its position in Regal Entertainment Group by 15.8% during the third quarter. Paradigm Capital Management Inc. NY now owns 206,425 shares of the company’s stock valued at $3,303,000 after purchasing an additional 28,175 shares during the last quarter. Edge Advisors LLC boosted its position in Regal Entertainment Group by 15.3% during the third quarter. Edge Advisors LLC now owns 174,421 shares of the company’s stock valued at $2,789,000 after purchasing an additional 23,174 shares during the last quarter. Martingale Asset Management L P boosted its position in Regal Entertainment Group by 19.0% during the second quarter. Martingale Asset Management L P now owns 498,694 shares of the company’s stock valued at $10,205,000 after purchasing an additional 79,693 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Regal Entertainment Group by 17.2% during the second quarter. Royal Bank of Canada now owns 724,860 shares of the company’s stock valued at $14,831,000 after purchasing an additional 106,214 shares during the last quarter. Institutional investors and hedge funds own 85.33% of the company’s stock.

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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.

Analyst Recommendations for Regal Entertainment Group (NYSE:RGC)

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