Regal Entertainment Group Receives Strong-Buy Rating from Raymond James (RGC)
Regal Entertainment Group (NYSE:RGC)‘s stock had its “strong-buy” rating restated by analysts at Raymond James in a research report issued to clients and investors on Friday. They currently have a $22.50 target price on the stock, up from their previous target price of $22.00. Raymond James’ target price indicates a potential upside of 14.27% from the stock’s previous close.
Regal Entertainment Group (NYSE:RGC) traded down 3.20% during mid-day trading on Friday, hitting $19.69. 2,451,937 shares of the company’s stock traded hands. Regal Entertainment Group has a 52-week low of $17.65 and a 52-week high of $21.56. The stock has a 50-day moving average of $20.67 and a 200-day moving average of $19.5. The company has a market cap of $3.058 billion and a price-to-earnings ratio of 23.68.
Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.27 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.29 by $0.02. The company had revenue of $770.30 million for the quarter, compared to the consensus estimate of $811.71 million. During the same quarter last year, the company posted $0.36 earnings per share. Regal Entertainment Group’s revenue was down 8.5% compared to the same quarter last year. Analysts expect that Regal Entertainment Group will post $1.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, September 5th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Wednesday, September 3rd.
RGC has been the subject of a number of other recent research reports. Analysts at Benchmark Co. raised their price target on shares of Regal Entertainment Group from $20.29 to $20.39 in a research note on Friday, July 11th. They now have a “hold” rating on the stock. Separately, analysts at Hudson Square Research initiated coverage on shares of Regal Entertainment Group in a research note on Monday, July 7th. They set a “buy” rating and a $26.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Regal Entertainment Group in a research note on Monday, June 30th. They now have a $22.00 price target on the stock, up previously from $20.00. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $22.91.
Regal Entertainment Group (NYSE:RGC) is the parent company of Regal Entertainment Holdings, Inc (REH).
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