Zacks Upgrades Regal Entertainment Group to “Outperform” (RGC)
Regal Entertainment Group (NYSE:RGC) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday, Stock Ratings Network.com reports. The firm currently has a $20.70 price objective on the stock. Zacks‘ price target suggests a potential upside of 8.49% from the company’s current price.
Shares of Regal Entertainment Group (NYSE:RGC) traded down 0.92% during mid-day trading on Wednesday, hitting $18.905. The stock had a trading volume of 367,200 shares. Regal Entertainment Group has a 52-week low of $13.27 and a 52-week high of $19.53. The stock has a 50-day moving average of $18.49 and a 200-day moving average of $18.16. The company has a market cap of $2.926 billion and a P/E ratio of 24.68.
Regal Entertainment Group (NYSE:RGC) last announced its earnings results on Thursday, July 25th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. The company had revenue of $842.00 million for the quarter, compared to the consensus estimate of $842.56 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. Analysts expect that Regal Entertainment Group will post $0.92 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet upgraded shares of Regal Entertainment Group (NYSE:RGC) from a “hold” rating to a “buy” rating in a research note to investors on Tuesday. Separately, analysts at B. Riley raised their price target on shares of Regal Entertainment Group (NYSE:RGC) from $20.00 to $22.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Finally, analysts at Macquarie raised their price target on shares of Regal Entertainment Group (NYSE:RGC) from $18.00 to $19.00 in a research note to investors on Tuesday, September 10th. They now have an “outperform” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $21.13.
Regal Entertainment Group (NYSE:RGC) is the parent company of Regal Entertainment Holdings, Inc (REH).
To view Zacks’ full report, visit www.zacks.com
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