Regal Entertainment Group (RGC) Stock Rating Reaffirmed by Wedbush
Regal Entertainment Group (NYSE:RGC)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a report issued on Wednesday. They presently have a $25.00 price objective on the stock. Wedbush’s price target would suggest a potential upside of 15.53% from the company’s current price.
RGC has been the subject of several other research reports. Morgan Stanley reiterated a “sell” rating and set a $19.00 price target on shares of Regal Entertainment Group in a research note on Thursday, July 28th. Credit Suisse Group AG restated a “neutral” rating and issued a $20.00 target price on shares of Regal Entertainment Group in a research note on Sunday, June 12th. Hilliard Lyons downgraded Regal Entertainment Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 27th. Loop Capital initiated coverage on Regal Entertainment Group in a research note on Tuesday, August 23rd. They issued a “hold” rating and a $22.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on Regal Entertainment Group from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. Regal Entertainment Group presently has an average rating of “Hold” and a consensus target price of $22.53.
Regal Entertainment Group (NYSE:RGC) opened at 21.64 on Wednesday. The firm has a market cap of $3.38 billion, a P/E ratio of 22.49 and a beta of 1.13. The stock has a 50 day moving average price of $21.63 and a 200 day moving average price of $21.34. Regal Entertainment Group has a 1-year low of $16.50 and a 1-year high of $24.19.
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Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by $0.01. The firm had revenue of $785.90 million for the quarter, compared to the consensus estimate of $801.49 million. Regal Entertainment Group had a negative return on equity of 18.52% and a net margin of 4.80%. The firm’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. On average, analysts anticipate that Regal Entertainment Group will post $0.98 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd were paid a $0.22 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.88 dividend on an annualized basis and a yield of 4.07%. Regal Entertainment Group’s dividend payout ratio (DPR) is currently 91.67%.
In other news, insider Gregory W. Dunn sold 30,765 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $21.75, for a total transaction of $669,138.75. Following the transaction, the insider now directly owns 74,151 shares of the company’s stock, valued at $1,612,784.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter B. Brandow sold 49,024 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $21.51, for a total value of $1,054,506.24. Following the transaction, the executive vice president now directly owns 219,028 shares in the company, valued at $4,711,292.28. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of RGC. Alliancebernstein L.P. boosted its position in Regal Entertainment Group by 145.1% in the second quarter. Alliancebernstein L.P. now owns 4,776,681 shares of the company’s stock valued at $105,278,000 after buying an additional 2,828,095 shares during the period. Vanguard Group Inc. boosted its position in Regal Entertainment Group by 42.2% in the second quarter. Vanguard Group Inc. now owns 7,665,646 shares of the company’s stock valued at $168,951,000 after buying an additional 2,276,318 shares during the period. Bank of Montreal Can acquired a new position in Regal Entertainment Group during the second quarter valued at about $29,335,000. Norges Bank acquired a new position in Regal Entertainment Group during the fourth quarter valued at about $16,676,000. Finally, First Trust Advisors LP boosted its position in Regal Entertainment Group by 210.5% in the second quarter. First Trust Advisors LP now owns 1,192,616 shares of the company’s stock valued at $26,285,000 after buying an additional 808,575 shares during the period. 63.44% of the stock is currently owned by hedge funds and other institutional investors.
About Regal Entertainment Group
Regal Entertainment Group (Regal) operates a theatre circuit in the United States. The Company operates in the segment of theatre exhibition operations. It develops, acquires and operates multi-screen theatres in mid-sized metropolitan markets and suburban growth areas of metropolitan markets throughout the United States.
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