$763.02 Million in Sales Expected for Regal Entertainment Group (NYSE:RGC) This Quarter
Wall Street analysts expect Regal Entertainment Group (NYSE:RGC) to post $763.02 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Regal Entertainment Group’s earnings. The highest sales estimate is $785.90 million and the lowest is $747.60 million. Regal Entertainment Group reported sales of $811.50 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 6%. The company is expected to issue its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Regal Entertainment Group will report full year sales of $763.02 million for the current financial year, with estimates ranging from $3.20 billion to $3.30 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.37 billion per share, with estimates ranging from $3.33 billion to $3.43 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Regal Entertainment Group.
Regal Entertainment Group (NYSE:RGC) last released its earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.02. Regal Entertainment Group had a net margin of 5.24% and a negative return on equity of 20.42%. The company had revenue of $764.20 million during the quarter, compared to analysts’ expectations of $764.15 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Regal Entertainment Group’s revenue for the quarter was down 2.8% compared to the same quarter last year.
A number of research firms recently commented on RGC. BidaskClub downgraded Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a report on Thursday. B. Riley reiterated a “buy” rating and set a $26.00 price target on shares of Regal Entertainment Group in a report on Tuesday, August 1st. Piper Jaffray Companies set a $19.00 price target on Regal Entertainment Group and gave the company a “hold” rating in a report on Thursday, July 27th. Wedbush reiterated a “buy” rating on shares of Regal Entertainment Group in a report on Thursday, July 27th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $22.00 price target on shares of Regal Entertainment Group in a report on Thursday, July 27th. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $24.57.
Shares of Regal Entertainment Group (NYSE RGC) opened at 17.41 on Friday. The stock has a market capitalization of $2.72 billion, a P/E ratio of 16.17 and a beta of 0.92. The firm’s 50-day moving average is $19.37 and its 200 day moving average is $21.08. Regal Entertainment Group has a 1-year low of $17.33 and a 1-year high of $24.79.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.88 annualized dividend and a dividend yield of 5.05%. Regal Entertainment Group’s dividend payout ratio is 82.24%.
Large investors have recently bought and sold shares of the stock. Camelot Portfolios LLC boosted its stake in Regal Entertainment Group by 0.3% in the first quarter. Camelot Portfolios LLC now owns 20,736 shares of the company’s stock valued at $468,000 after buying an additional 67 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Regal Entertainment Group by 96.9% in the first quarter. Canada Pension Plan Investment Board now owns 450,800 shares of the company’s stock valued at $10,179,000 after buying an additional 221,900 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Regal Entertainment Group by 6.5% in the first quarter. Wells Fargo & Company MN now owns 810,427 shares of the company’s stock valued at $18,301,000 after buying an additional 49,653 shares in the last quarter. Hamlin Capital Management LLC boosted its stake in Regal Entertainment Group by 16.6% in the first quarter. Hamlin Capital Management LLC now owns 3,491,051 shares of the company’s stock valued at $78,828,000 after buying an additional 496,075 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Regal Entertainment Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 747,402 shares of the company’s stock valued at $16,871,000 after buying an additional 3,072 shares in the last quarter. 77.16% of the stock is owned by institutional investors.
Regal Entertainment Group Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Regal Entertainment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Entertainment Group and related companies with MarketBeat.com's FREE daily email newsletter.