Regal Entertainment Group (RGC) Expected to Earn Q3 2016 Earnings of $0.24 Per Share
Regal Entertainment Group (NYSE:RGC) – Investment analysts at Wedbush increased their Q3 2016 EPS estimates for shares of Regal Entertainment Group in a research note issued on Wednesday. Wedbush analyst M. Pachter now expects that the firm will post earnings of $0.24 per share for the quarter, up from their prior forecast of $0.18. Wedbush currently has a “Outperform” rating and a $25.00 target price on the stock. Wedbush also issued estimates for Regal Entertainment Group’s Q1 2017 earnings at $0.25 EPS, Q2 2017 earnings at $0.46 EPS and Q4 2017 earnings at $0.40 EPS.
A number of other equities research analysts also recently weighed in on RGC. Credit Suisse Group AG initiated coverage on Regal Entertainment Group in a research report on Monday, June 13th. They set a “neutral” rating and a $20.00 price target on the stock. Royal Bank Of Canada upgraded Regal Entertainment Group from a “sector perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a research report on Wednesday, June 15th. Wunderlich restated a “buy” rating and set a $31.00 price target on shares of Regal Entertainment Group in a research report on Monday, June 27th. RBC Capital Markets downgraded Regal Entertainment Group from an “outperform” rating to a “hold” rating and set a $23.00 price target on the stock. in a research report on Tuesday, July 19th. Finally, Zacks Investment Research cut Regal Entertainment Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.53.
Regal Entertainment Group (NYSE:RGC) traded up 0.14% on Thursday, reaching $21.59. The company had a trading volume of 295,614 shares. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 22.44 and a beta of 1.13. Regal Entertainment Group has a one year low of $16.50 and a one year high of $24.19. The company’s 50 day moving average is $21.58 and its 200-day moving average is $21.34.
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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 analysts’ consensus estimates of $0.24 by $0.01. Regal Entertainment Group had a negative return on equity of 18.52% and a net margin of 4.80%. The firm had revenue of $785.90 million for the quarter, compared to analyst estimates of $801.49 million. During the same period last year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.88 annualized dividend and a dividend yield of 4.08%. Regal Entertainment Group’s payout ratio is 91.67%.
In other news, EVP Peter B. Brandow sold 49,024 shares of Regal Entertainment Group stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $21.51, for a total transaction of $1,054,506.24. Following the completion of the transaction, the executive vice president now directly owns 219,028 shares in the company, valued at $4,711,292.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregory W. Dunn sold 30,765 shares of Regal Entertainment Group stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $21.75, for a total transaction of $669,138.75. Following the transaction, the insider now owns 74,151 shares of the company’s stock, valued at $1,612,784.25. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its position in Regal Entertainment Group by 76.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,084 shares of the company’s stock valued at $311,000 after buying an additional 6,115 shares during the last quarter. Royal Bank of Canada raised its position in Regal Entertainment Group by 2.8% in the second quarter. Royal Bank of Canada now owns 599,814 shares of the company’s stock valued at $13,220,000 after buying an additional 16,419 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Regal Entertainment Group by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 29,320 shares of the company’s stock valued at $646,000 after buying an additional 302 shares during the last quarter. Sterling Capital Management LLC acquired a new position in Regal Entertainment Group during the second quarter valued at about $566,000. Finally, Farmers National Bank acquired a new position in Regal Entertainment Group during the second quarter valued at about $178,000. Hedge funds and other institutional investors own 63.44% of the company’s stock.
Regal Entertainment Group Company Profile
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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