Analysts Anticipate Regal Entertainment Group (RGC) Will Post Earnings of $0.13 Per Share
Brokerages predict that Regal Entertainment Group (NYSE:RGC) will announce earnings per share (EPS) of $0.13 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Regal Entertainment Group’s earnings. The lowest EPS estimate is $0.05 and the highest is $0.18. Regal Entertainment Group posted earnings of $0.29 per share in the same quarter last year, which would indicate a negative year over year growth rate of 55.2%. The business is scheduled to report its next earnings report on Thursday, October 26th.
On average, analysts expect that Regal Entertainment Group will report full-year earnings of $1.01 per share for the current financial year, with EPS estimates ranging from $0.90 to $1.10. For the next year, analysts expect that the firm will report earnings of $1.16 per share, with EPS estimates ranging from $1.02 to $1.28. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Regal Entertainment Group.
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). Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The business had revenue of $764.20 million for the quarter, compared to analyst estimates of $764.15 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis.
Several research analysts have weighed in on RGC shares. Royal Bank Of Canada lowered 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. B. Riley reiterated a “buy” rating and set a $26.00 price objective on shares of Regal Entertainment Group in a research report on Tuesday, July 18th. Piper Jaffray Companies set a $19.00 price objective on Regal Entertainment Group and gave the stock a “hold” rating in a research report on Thursday, July 27th. BidaskClub cut Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, MKM Partners upgraded Regal Entertainment Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $20.00 to $22.00 in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $23.69.
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In other Regal Entertainment Group news, Director Thomas D. Bell, Jr. acquired 25,000 shares of Regal Entertainment Group stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $14.76 per share, with a total value of $369,000.00. Following the completion of the purchase, the director now directly owns 126,939 shares of the company’s stock, valued at approximately $1,873,619.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Ownby acquired 7,500 shares of Regal Entertainment Group stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average cost of $14.04 per share, for a total transaction of $105,300.00. Following the completion of the purchase, the chief financial officer now directly owns 229,573 shares of the company’s stock, valued at $3,223,204.92. The disclosure for this purchase can be found here. Insiders purchased 242,500 shares of company stock worth $641,000 over the last ninety days. 2.00% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Regal Entertainment Group by 3.0% in the second 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 in the last quarter. Alliancebernstein L.P. boosted its stake in Regal Entertainment Group by 11.6% in the second 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 in the last quarter. Epoch Investment Partners Inc. boosted its stake in Regal Entertainment Group by 1.4% in the second 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 in the last quarter. BlackRock Inc. boosted its stake in Regal Entertainment Group by 20.7% in the second 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 in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Regal Entertainment Group by 25.2% in the second 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 in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of Regal Entertainment Group (NYSE:RGC) opened at 17.07 on Friday. The firm’s 50-day moving average is $15.65 and its 200-day moving average is $19.37. Regal Entertainment Group has a 1-year low of $13.90 and a 1-year high of $24.79. The firm has a market cap of $2.67 billion, a P/E ratio of 15.85 and a beta of 0.97.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, September 5th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend was Thursday, August 31st. Regal Entertainment Group’s payout ratio is currently 82.24%.
Regal Entertainment Group declared that its Board of Directors has approved a share buyback program on Thursday, August 31st that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
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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