Regal Entertainment Group (NYSE:RGC) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report issued on Thursday, Marketbeat reports.

A number of other analysts have also issued reports on RGC. Moffett Nathanson lowered Regal Entertainment Group from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $21.00 to $17.00 in a research note on Monday, June 12th. Royal Bank Of Canada reduced their price objective on Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Thursday, June 22nd. Credit Suisse Group reduced their price objective on Regal Entertainment Group from $19.00 to $17.00 and set an “underperform” rating on the stock in a research report on Friday, June 23rd. B. Riley reiterated a “buy” rating and set a $26.00 price objective (down previously from $28.75) on shares of Regal Entertainment Group in a research report on Thursday, July 13th. Finally, BidaskClub downgraded Regal Entertainment Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Regal Entertainment Group presently has an average rating of “Hold” and a consensus target price of $23.69.

Shares of Regal Entertainment Group (NYSE:RGC) traded up 0.89% during mid-day trading on Thursday, hitting $17.07. The stock had a trading volume of 3,725,399 shares. The stock has a market cap of $2.67 billion, a P/E ratio of 15.85 and a beta of 0.97. Regal Entertainment Group has a one year low of $13.90 and a one year high of $24.79. The firm has a 50 day moving average of $15.64 and a 200-day moving average of $19.39.

Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) 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 analyst estimates 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 was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share. Equities research analysts expect that Regal Entertainment Group will post $0.98 earnings per share for the current fiscal year.

Regal Entertainment Group announced that its board has approved a share buyback plan on Thursday, August 31st that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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In other Regal Entertainment Group news, Director Thomas D. Bell, Jr. bought 25,000 shares of Regal Entertainment Group stock in a transaction on Tuesday, August 29th. The shares were bought at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the completion of the transaction, the director now directly owns 126,939 shares of the company’s stock, valued at $1,873,619.64. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen A. Kaplan bought 10,000 shares of Regal Entertainment Group stock in a transaction on Friday, August 25th. The stock was acquired at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the transaction, the director now directly owns 155,572 shares of the company’s stock, valued at $2,313,355.64. The disclosure for this purchase can be found here. Insiders acquired 242,500 shares of company stock worth $641,000 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Regal Entertainment Group by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 13,209,774 shares of the company’s stock valued at $270,273,000 after buying an additional 380,951 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Regal Entertainment Group by 11.6% in the 2nd quarter. Alliancebernstein L.P. now owns 10,092,993 shares of the company’s stock valued at $206,503,000 after buying an additional 1,048,051 shares during the period. Epoch Investment Partners Inc. raised its holdings in shares of Regal Entertainment Group by 1.4% in the 2nd quarter. Epoch Investment Partners Inc. now owns 7,261,026 shares of the company’s stock valued at $148,561,000 after buying an additional 103,100 shares during the period. BlackRock Inc. raised its holdings in shares of Regal Entertainment Group by 20.7% in the 2nd quarter. BlackRock Inc. now owns 4,659,346 shares of the company’s stock valued at $95,330,000 after buying an additional 797,847 shares during the period. Finally, Voya Investment Management LLC raised its holdings in shares of Regal Entertainment Group by 25.2% in the 2nd quarter. Voya Investment Management LLC now owns 4,322,636 shares of the company’s stock valued at $88,441,000 after buying an additional 870,550 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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.

Analyst Recommendations for Regal Entertainment Group (NYSE:RGC)

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