Wedbush Reiterates “Outperform” Rating for Regal Entertainment Group (RGC)
Regal Entertainment Group (NYSE:RGC)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a report released on Thursday. They presently have a $23.00 target price on the stock. Wedbush’s target price indicates a potential upside of 17.35% from the company’s previous close.
RGC has been the topic of several other reports. Royal Bank Of Canada reiterated a “hold” rating on shares of Regal Entertainment Group in a research report on Thursday, April 27th. Hilliard Lyons upgraded shares of Regal Entertainment Group to a “buy” rating in a research report on Thursday, May 18th. They noted that the move was a valuation call. B. Riley reiterated a “buy” rating and set a $28.75 target price on shares of Regal Entertainment Group in a research report on Wednesday, April 19th. MKM Partners reiterated a “neutral” rating and set a $24.00 target price (up from $23.00) on shares of Regal Entertainment Group in a research report on Wednesday, April 26th. Finally, Zacks Investment Research downgraded shares of Regal Entertainment Group from a “hold” rating to a “sell” rating in a research report on Thursday, June 29th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $24.86.
Regal Entertainment Group (RGC) opened at 19.50 on Thursday. The company has a 50-day moving average of $20.28 and a 200 day moving average of $21.44. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 17.11 and a beta of 0.93. Regal Entertainment Group has a one year low of $18.85 and a one year high of $24.79.
Regal Entertainment Group (NYSE:RGC) last posted its 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 negative return on equity of 21.38% and a net margin of 5.51%. The business had revenue of $821.20 million for the quarter, compared to analyst estimates of $808.18 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts anticipate that Regal Entertainment Group will post $1.11 EPS for the current year.
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Several hedge funds have recently bought and sold shares of RGC. State Street Corp raised its stake in Regal Entertainment Group by 4.4% in the fourth quarter. State Street Corp now owns 1,243,460 shares of the company’s stock valued at $25,614,000 after buying an additional 52,615 shares during the last quarter. Credit Agricole S A purchased a new stake in Regal Entertainment Group during the fourth quarter valued at about $165,000. New York State Teachers Retirement System purchased a new stake in Regal Entertainment Group during the fourth quarter valued at about $148,000. Norges Bank purchased a new stake in Regal Entertainment Group during the fourth quarter valued at about $24,513,000. Finally, Quadrature Capital Ltd raised its stake in Regal Entertainment Group by 135.5% in the fourth quarter. Quadrature Capital Ltd now owns 32,248 shares of the company’s stock valued at $664,000 after buying an additional 18,557 shares during the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.
About Regal Entertainment Group
Regal Entertainment Group is an operator of theatre circuits in the United States. As of March 31, 2017, the Company operated 7,262 screens in 559 theatres in 43 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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