Regal Entertainment Group (RGC) Given Consensus Rating of “Hold” by Brokerages
Regal Entertainment Group (NYSE:RGC) has received a consensus rating of “Hold” from the sixteen brokerages that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $24.50.
A number of equities analysts have weighed in on the stock. Royal Bank Of Canada dropped their price target on shares of Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, June 22nd. Zacks Investment Research downgraded shares of Regal Entertainment Group from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. Credit Suisse Group lowered their target price on shares of Regal Entertainment Group from $19.00 to $17.00 and set an “underperform” rating on the stock in a report on Friday, June 23rd. Moffett Nathanson downgraded shares of Regal Entertainment Group from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $21.00 to $17.00 in a report on Monday, June 12th. Finally, Wedbush reissued a “buy” rating on shares of Regal Entertainment Group in a report on Thursday, July 27th.
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Regal Entertainment Group (RGC) opened at 16.03 on Friday. The company has a market capitalization of $2.51 billion, a P/E ratio of 14.88 and a beta of 0.96. Regal Entertainment Group has a 12-month low of $13.90 and a 12-month high of $24.79. The company has a 50-day moving average of $16.32 and a 200 day moving average of $19.93.
Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). The firm had revenue of $764.20 million during the quarter, compared to the consensus estimate of $764.15 million. Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 earnings per share. Equities research analysts forecast that Regal Entertainment Group will post $1.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date was Thursday, August 31st. Regal Entertainment Group’s dividend payout ratio is currently 82.24%.
Regal Entertainment Group declared that its Board of Directors has approved a stock buyback plan on Thursday, August 31st that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other Regal Entertainment Group news, Director Stephen A. Kaplan purchased 10,000 shares of Regal Entertainment Group stock in a transaction on Friday, August 25th. The stock was bought at an average cost of $14.87 per share, with a total value of $148,700.00. Following the transaction, the director now owns 155,572 shares of the company’s stock, valued at approximately $2,313,355.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Ownby purchased 7,500 shares of Regal Entertainment Group stock in a transaction on Thursday, August 24th. The shares were acquired at an average cost of $14.04 per share, with a total value of $105,300.00. Following the completion of the transaction, the chief financial officer now directly owns 229,573 shares in the company, valued at approximately $3,223,204.92. The disclosure for this purchase can be found here. Insiders purchased a total of 242,500 shares of company stock valued at $641,000 over the last ninety days. 2.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Frontier Investment Mgmt Co. raised its position in Regal Entertainment Group by 7.2% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 349,919 shares of the company’s stock worth $7,159,000 after buying an additional 23,633 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Regal Entertainment Group by 24.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 434,500 shares of the company’s stock worth $8,890,000 after purchasing an additional 85,200 shares during the period. Farmers National Bank grew its stake in shares of Regal Entertainment Group by 901.2% during the 2nd quarter. Farmers National Bank now owns 81,096 shares of the company’s stock worth $135,000 after purchasing an additional 72,996 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Regal Entertainment Group by 79.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 58,353 shares of the company’s stock worth $1,194,000 after purchasing an additional 25,861 shares during the period. Finally, 1st Global Advisors Inc. acquired a new stake in shares of Regal Entertainment Group during the 2nd quarter worth approximately $229,000. 82.41% of the stock is owned by institutional investors.
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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