Regal Entertainment Group (RGC) Downgraded by Zacks Investment Research
Regal Entertainment Group (NYSE:RGC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “Regal Entertainment Group is a leading motion picture exhibitor operating the largest theatre circuit in the United States. The Company’s nationwide theatre circuit is comprised of Regal Cinemas Corporation, United Artists Theatre Company and Edwards Theatres, Inc. “
Several other analysts have also commented on the company. Wunderlich reaffirmed a “buy” rating and set a $31.00 target price on shares of Regal Entertainment Group in a report on Monday, March 20th. Wedbush reaffirmed a “buy” rating and set a $25.00 target price on shares of Regal Entertainment Group in a report on Monday, February 6th. Credit Suisse Group AG lowered Regal Entertainment Group from a “neutral” rating to an “underperform” rating and set a $20.00 price objective on the stock. in a report on Tuesday, January 31st. Benchmark Co. reissued an “outperform” rating and issued a $22.00 price objective on shares of Regal Entertainment Group in a report on Friday, April 14th. Finally, Loop Capital reissued a “hold” rating and issued a $22.00 price objective on shares of Regal Entertainment Group in a report on Tuesday, February 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Regal Entertainment Group has a consensus rating of “Hold” and an average target price of $25.20.
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Shares of Regal Entertainment Group (NYSE:RGC) opened at 22.28 on Friday. The stock has a market capitalization of $3.48 billion, a P/E ratio of 20.44 and a beta of 0.92. Regal Entertainment Group has a 12-month low of $19.35 and a 12-month high of $24.79. The firm’s 50-day moving average is $22.14 and its 200 day moving average is $22.12.
Regal Entertainment Group (NYSE:RGC) last posted its earnings results on Thursday, February 9th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $812.60 million for the quarter, compared to analyst estimates of $804.85 million. Regal Entertainment Group had a negative return on equity of 20.07% and a net margin of 5.33%. Regal Entertainment Group’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. On average, equities research analysts forecast that Regal Entertainment Group will post $1.22 EPS for the current fiscal year.
In other news, EVP Peter B. Brandow sold 20,233 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $22.50, for a total value of $455,242.50. Following the transaction, the executive vice president now owns 212,715 shares in the company, valued at $4,786,087.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gregory W. Dunn sold 26,050 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $22.15, for a total value of $577,007.50. Following the completion of the transaction, the insider now owns 67,052 shares in the company, valued at approximately $1,485,201.80. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in RGC. New Mountain Vantage Advisers L.L.C. purchased a new position in Regal Entertainment Group during the third quarter valued at $29,265,000. Norges Bank purchased a new position in Regal Entertainment Group during the fourth quarter valued at $24,513,000. Altrinsic Global Advisors LLC purchased a new position in Regal Entertainment Group during the third quarter valued at $18,105,000. Russell Investments Group Ltd. purchased a new position in Regal Entertainment Group during the fourth quarter valued at $15,348,000. Finally, Two Sigma Investments LP increased its position in Regal Entertainment Group by 940.1% in the fourth quarter. Two Sigma Investments LP now owns 758,331 shares of the company’s stock valued at $15,622,000 after buying an additional 685,420 shares during the period. Institutional investors and hedge funds own 65.33% of the company’s stock.
About Regal Entertainment Group
Regal Entertainment Group is an operator of theatre circuits in the United States. As of December 31, 2016, the Company operated 7,267 screens in 561 theatres in 42 states along with Guam, Saipan, American Samoa and the District of Columbia. The Company manages its business under theatre exhibition operations segment.
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