Regal Entertainment Group (RGC) Given Average Recommendation of “Hold” by Brokerages
Shares of Regal Entertainment Group (NYSE:RGC) have been given a consensus rating of “Hold” by the sixteen analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $23.38.
A number of equities analysts have recently commented on RGC shares. Royal Bank Of Canada reduced their target price on shares of 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 target price on shares of 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. Morgan Stanley reduced their target price on shares of Regal Entertainment Group from $22.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, July 6th. B. Riley reaffirmed a “buy” rating and set a $26.00 target price (down from $28.75) on shares of Regal Entertainment Group in a research report on Thursday, July 13th. Finally, BidaskClub lowered shares of Regal Entertainment Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th.
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Shares of Regal Entertainment Group (NYSE:RGC) opened at 16.01 on Thursday. Regal Entertainment Group has a 52-week low of $13.90 and a 52-week high of $24.79. The firm’s 50-day moving average price is $15.76 and its 200 day moving average price is $19.18. The company has a market capitalization of $2.50 billion, a PE ratio of 14.87 and a beta of 0.97.
Regal Entertainment Group (NYSE:RGC) last issued its earnings results on Wednesday, July 26th. The company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). The company had revenue of $764.20 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. On average, equities analysts forecast that Regal Entertainment Group will post $0.97 earnings per share for the current year.
Regal Entertainment Group declared that its board has initiated a share buyback plan on Thursday, August 31st that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.50%. Regal Entertainment Group’s dividend payout ratio is presently 82.24%.
In other Regal Entertainment Group news, Director Stephen A. Kaplan acquired 10,000 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were purchased at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the completion of the purchase, the director now owns 155,572 shares in the company, valued at $2,313,355.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas D. Bell, Jr. acquired 25,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the completion of the purchase, the director now owns 126,939 shares of the company’s stock, valued at approximately $1,873,619.64. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 242,500 shares of company stock worth $641,000. Insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in RGC. Bank of New York Mellon Corp boosted its stake in Regal Entertainment Group by 6.4% in the first quarter. Bank of New York Mellon Corp now owns 826,903 shares of the company’s stock valued at $18,673,000 after acquiring an additional 49,896 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Regal Entertainment Group by 22.1% in the first quarter. Pacer Advisors Inc. now owns 9,372 shares of the company’s stock valued at $212,000 after acquiring an additional 1,695 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Regal Entertainment Group in the first quarter valued at approximately $1,856,000. Asset Management One Co. Ltd. boosted its stake in Regal Entertainment Group by 85.4% in the first quarter. Asset Management One Co. Ltd. now owns 149,421 shares of the company’s stock valued at $3,380,000 after acquiring an additional 68,842 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in Regal Entertainment Group by 37.5% in the first quarter. OppenheimerFunds Inc. now owns 398,165 shares of the company’s stock valued at $8,991,000 after acquiring an additional 108,525 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.
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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