Regal Entertainment Group (RGC) Receives “Buy” Rating from MKM Partners
Regal Entertainment Group (NYSE:RGC)‘s stock had its “buy” rating reaffirmed by research analysts at MKM Partners in a report released on Monday. They currently have a $20.00 price objective on the stock. MKM Partners’ price target indicates a potential upside of 21.65% from the company’s current price.
Several other equities research analysts have also issued reports on RGC. Moffett Nathanson lowered shares of Regal Entertainment Group from a “neutral” rating to a “sell” rating and dropped their target price for the company from $21.00 to $17.00 in a research report on Monday, June 12th. Royal Bank Of Canada dropped their target price 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. Credit Suisse Group dropped their target price on shares of Regal Entertainment Group from $19.00 to $17.00 and set an “underperform” rating for the company in a research report on Friday, June 23rd. Zacks Investment Research lowered shares of Regal Entertainment Group from a “hold” rating to a “sell” rating in a research report on Thursday, June 29th. Finally, Morgan Stanley dropped their target price on shares of Regal Entertainment Group from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, July 6th. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Regal Entertainment Group has an average rating of “Hold” and a consensus price target of $24.29.
Regal Entertainment Group (RGC) traded up 2.56% during trading on Monday, reaching $16.44. 4,210,275 shares of the company were exchanged. The firm’s 50-day moving average is $16.32 and its 200 day moving average is $19.93. The company has a market capitalization of $2.57 billion, a P/E ratio of 15.26 and a beta of 0.96. Regal Entertainment Group has a one year low of $13.90 and a one year high of $24.79.
Regal Entertainment Group (NYSE:RGC) last announced its earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $764.15 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, analysts anticipate that Regal Entertainment Group will post $1.01 EPS for the current fiscal year.
Regal Entertainment Group announced that its Board of Directors has authorized a share buyback program on Thursday, August 31st that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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In other Regal Entertainment Group news, Director Thomas D. Bell, Jr. acquired 25,000 shares of the stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average cost of $14.76 per share, for a total transaction of $369,000.00. Following the acquisition, the director now owns 126,939 shares in the company, valued at approximately $1,873,619.64. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David Ownby acquired 7,500 shares of the stock in a transaction dated Thursday, August 24th. The stock was acquired at an average price of $14.04 per share, with a total value of $105,300.00. Following the completion of the acquisition, the chief financial officer now owns 229,573 shares in the company, valued at approximately $3,223,204.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 242,500 shares of company stock valued at $641,000. Company insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Camelot Portfolios LLC increased its stake in shares of Regal Entertainment Group by 0.3% in the first quarter. Camelot Portfolios LLC now owns 20,736 shares of the company’s stock worth $468,000 after buying an additional 67 shares during the period. Parallel Advisors LLC increased its stake in shares of Regal Entertainment Group by 2.1% in the first quarter. Parallel Advisors LLC now owns 7,045 shares of the company’s stock worth $153,000 after buying an additional 145 shares during the period. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Regal Entertainment Group by 1.2% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 16,546 shares of the company’s stock worth $365,000 after buying an additional 198 shares during the period. CIBC World Markets Inc. increased its stake in shares of Regal Entertainment Group by 1.7% in the first quarter. CIBC World Markets Inc. now owns 16,713 shares of the company’s stock worth $377,000 after buying an additional 275 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Regal Entertainment Group by 0.9% in the third quarter. PNC Financial Services Group Inc. now owns 33,500 shares of the company’s stock worth $729,000 after buying an additional 294 shares during the period. 82.41% of the stock is currently 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.
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