Regal Entertainment Group (RGC) Upgraded to Buy by Hilliard Lyons
Regal Entertainment Group (NYSE:RGC) was upgraded by analysts at Hilliard Lyons to a “buy” rating in a report released on Thursday, The Fly reports. The analysts noted that the move was a valuation call.
RGC has been the topic of several other reports. Loop Capital restated a “hold” rating and set a $22.00 price target on shares of Regal Entertainment Group in a report on Tuesday, February 7th. Credit Suisse Group AG lowered shares of Regal Entertainment Group from a “neutral” rating to an “underperform” rating and set a $20.00 price objective for the company. in a research note on Tuesday, January 31st. Wedbush reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Regal Entertainment Group in a research note on Monday, February 6th. Wunderlich reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Regal Entertainment Group in a research note on Monday, March 20th. Finally, MKM Partners reaffirmed a “neutral” rating and issued a $24.00 price objective (up previously from $23.00) on shares of Regal Entertainment Group in a research note on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $26.21.
Regal Entertainment Group (NYSE:RGC) opened at 20.16 on Thursday. The firm’s 50 day moving average price is $21.83 and its 200-day moving average price is $22.01. Regal Entertainment Group has a 52 week low of $19.35 and a 52 week high of $24.79. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 17.68 and a beta of 0.92.
Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings results on Wednesday, April 26th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by $0.04. Regal Entertainment Group had a net margin of 5.33% and a negative return on equity of 20.07%. The company had revenue of $821.20 million for the quarter, compared to analysts’ expectations of $808.18 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. Analysts expect that Regal Entertainment Group will post $1.26 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, June 5th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Thursday, June 1st. Regal Entertainment Group’s dividend payout ratio is currently 81.48%.
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In other news, insider Gregory W. Dunn sold 26,050 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $22.15, for a total transaction of $577,007.50. Following the completion of the transaction, the insider now owns 67,052 shares of the company’s stock, valued at $1,485,201.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter B. Brandow sold 20,233 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $22.50, for a total transaction of $455,242.50. Following the transaction, the executive vice president now directly owns 212,715 shares of the company’s stock, valued at approximately $4,786,087.50. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Societe Generale bought a new position in shares of Regal Entertainment Group during the second quarter worth approximately $103,000. Ffcm LLC bought a new position in shares of Regal Entertainment Group during the fourth quarter worth approximately $110,000. Parallel Advisors LLC bought a new position in shares of Regal Entertainment Group during the fourth quarter worth approximately $142,000. Advisor Group Inc. raised its position in shares of Regal Entertainment Group by 48.1% in the third quarter. Advisor Group Inc. now owns 7,027 shares of the company’s stock worth $148,000 after buying an additional 2,283 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new position in shares of Regal Entertainment Group during the fourth quarter worth approximately $148,000. 65.33% of the stock is owned by institutional investors and hedge funds.
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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