Q3 2016 Earnings Estimate for Regal Entertainment Group Issued By FBR & Co (RGC)
Regal Entertainment Group (NYSE:RGC) – Analysts at FBR & Co lifted their Q3 2016 earnings estimates for shares of Regal Entertainment Group in a report released on Monday. FBR & Co analyst B. Crockett now forecasts that the brokerage will post earnings per share of $0.26 for the quarter, up from their prior forecast of $0.24. FBR & Co currently has a “Market Perform” rating and a $25.00 price objective on the stock. FBR & Co also issued estimates for Regal Entertainment Group’s FY2017 earnings at $1.25 EPS, FY2018 earnings at $1.40 EPS, FY2019 earnings at $1.56 EPS and FY2020 earnings at $1.75 EPS.
Regal Entertainment Group (NYSE:RGC) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by $0.01. The company had revenue of $785.90 million for the quarter, compared to analyst estimates of $801.49 million. Regal Entertainment Group had a negative return on equity of 18.52% and a net margin of 4.80%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS.
Other research analysts also recently issued reports about the company. B. Riley reaffirmed a “neutral” rating and set a $23.00 price target on shares of Regal Entertainment Group in a report on Monday, July 25th. Hilliard Lyons downgraded Regal Entertainment Group from a “buy” rating to a “neutral” rating in a report on Wednesday, July 27th. Wedbush reissued an “outperform” rating and issued a $25.00 target price on shares of Regal Entertainment Group in a report on Friday, July 15th. Zacks Investment Research downgraded Regal Entertainment Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 21st. Finally, MKM Partners increased their target price on Regal Entertainment Group from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Monday, July 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $22.53.
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Shares of Regal Entertainment Group (NYSE:RGC) traded up 0.27% during mid-day trading on Wednesday, hitting $22.30. 274,681 shares of the stock traded hands. Regal Entertainment Group has a 52 week low of $16.50 and a 52 week high of $24.19. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 23.18 and a beta of 1.12. The firm’s 50-day moving average is $21.65 and its 200-day moving average is $21.42.
A number of institutional investors have recently added to or reduced their stakes in the stock. 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 in the last quarter. Eagle Asset Management Inc. boosted its position in Regal Entertainment Group by 5.5% in the second quarter. Eagle Asset Management Inc. now owns 5,620,763 shares of the company’s stock valued at $123,881,000 after buying an additional 294,826 shares in the last quarter. 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 in the last quarter. Hamlin Capital Management LLC boosted its position in Regal Entertainment Group by 2.3% in the second quarter. Hamlin Capital Management LLC now owns 3,379,203 shares of the company’s stock valued at $74,478,000 after buying an additional 75,497 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Regal Entertainment Group by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,402,798 shares of the company’s stock valued at $52,958,000 after buying an additional 52,226 shares in the last quarter. Institutional investors and hedge funds own 63.44% of the company’s stock.
In other Regal Entertainment Group news, insider Gregory W. Dunn sold 30,765 shares of the firm’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 completion of the transaction, the insider now owns 74,151 shares in the company, valued at approximately $1,612,784.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Philip F. Anschutz sold 13,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $21.60, for a total value of $280,800,000.00. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.96%. The ex-dividend date was Wednesday, August 31st. Regal Entertainment Group’s dividend payout ratio is presently 91.67%.
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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