Regal Entertainment Group (RGC) Expected to Post Q2 2017 Earnings of $0.29 Per Share
Regal Entertainment Group (NYSE:RGC) – Analysts at Barrington Research lowered their Q2 2017 earnings per share (EPS) estimates for shares of Regal Entertainment Group in a note issued to investors on Monday. Barrington Research analyst J. Goss now expects that the brokerage will post earnings of $0.29 per share for the quarter, down from their prior estimate of $0.30. Barrington Research also issued estimates for Regal Entertainment Group’s Q3 2017 earnings at $0.33 EPS.
Regal Entertainment Group (NYSE:RGC) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm earned $785.90 million during the quarter, compared to the consensus estimate of $801.49 million. Regal Entertainment Group had a net margin of 4.80% and a negative return on equity of 18.52%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Regal Entertainment Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. Loop Capital reaffirmed a “hold” rating and issued a $22.00 price target on shares of Regal Entertainment Group in a research note on Monday, September 26th. Wedbush reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Regal Entertainment Group in a research note on Wednesday, September 21st. B. Riley reiterated a “hold” rating and issued a $23.00 price objective on shares of Regal Entertainment Group in a report on Tuesday, August 16th. Finally, Morgan Stanley reiterated a “sell” rating and issued a $19.00 price objective on shares of Regal Entertainment Group in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.53.
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Shares of Regal Entertainment Group (NYSE:RGC) traded up 0.67% during mid-day trading on Tuesday, reaching $22.59. The company had a trading volume of 391,259 shares. Regal Entertainment Group has a 52-week low of $16.50 and a 52-week high of $24.19. The company has a market capitalization of $3.52 billion, a PE ratio of 23.48 and a beta of 1.11. The company’s 50-day moving average price is $21.76 and its 200-day moving average price is $21.45.
Several hedge funds have recently bought and sold shares of the company. Eagle Asset Management Inc. raised its stake in Regal Entertainment Group by 4.5% in the third quarter. Eagle Asset Management Inc. now owns 5,874,795 shares of the company’s stock valued at $127,776,000 after buying an additional 254,032 shares during the last quarter. Dynamic Advisors Solutions LLC raised its stake in Regal Entertainment Group by 7.3% in the third quarter. Dynamic Advisors Solutions LLC now owns 107,210 shares of the company’s stock valued at $2,332,000 after buying an additional 7,269 shares during the last quarter. First Mercantile Trust Co. purchased a new stake in Regal Entertainment Group during the third quarter valued at $367,000. Northwestern Mutual Wealth Management Co. raised its stake 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. Finally, Royal Bank of Canada raised its stake 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. 63.39% of the stock is owned by institutional investors.
In other news, 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 transaction of $280,800,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the insider now directly owns 74,151 shares of the company’s stock, valued at approximately $1,612,784.25. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
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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