Regal Entertainment Group (NYSE:RGC) – Investment analysts at B. Riley lowered their Q3 2017 EPS estimates for Regal Entertainment Group in a note issued to investors on Wednesday. B. Riley analyst E. Wold now expects that the company will earn $0.05 per share for the quarter, down from their prior forecast of $0.18. B. Riley currently has a “Buy” rating and a $24.00 target price on the stock. B. Riley also issued estimates for Regal Entertainment Group’s Q1 2018 earnings at $0.32 EPS, Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.16 EPS and Q4 2018 earnings at $0.43 EPS.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada reiterated a “hold” rating and set a $22.00 target price on shares of Regal Entertainment Group in a research note on Thursday, July 27th. BidaskClub cut Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Wedbush set a $19.00 target price on Regal Entertainment Group and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley upgraded Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 target price for the company in a research note on Thursday, October 5th. Finally, Credit Suisse Group reduced their target price on Regal Entertainment Group from $17.00 to $13.00 and set an “underperform” rating for the company in a research note on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.92.

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Regal Entertainment Group (RGC) opened at 16.29 on Monday. The stock has a market cap of $2.55 billion, a P/E ratio of 15.13 and a beta of 0.97. The company has a 50-day moving average of $16.09 and a 200-day moving average of $18.89. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $24.79.

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 analysts’ consensus estimates 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 firm had revenue of $764.20 million during the quarter, compared to analysts’ expectations of $764.15 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year.

Regal Entertainment Group announced that its Board of Directors has authorized a stock 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 repurchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In related news, CFO David Ownby bought 7,500 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were purchased 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 of the company’s stock, valued at $3,223,204.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen A. Kaplan bought 10,000 shares of the company’s stock in a transaction on Friday, August 25th. The stock was bought at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the completion of 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 have purchased 242,500 shares of company stock worth $641,000 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position 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 worth $270,273,000 after buying an additional 380,951 shares during the period. Alliancebernstein L.P. increased its position 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 worth $206,503,000 after buying an additional 1,048,051 shares during the period. Epoch Investment Partners Inc. increased its position 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 worth $148,561,000 after buying an additional 103,100 shares during the period. BlackRock Inc. increased its position in Regal Entertainment Group by 20.7% in the second quarter. BlackRock Inc. now owns 4,659,346 shares of the company’s stock worth $95,330,000 after buying an additional 797,847 shares during the period. Finally, Voya Investment Management LLC increased its position 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 worth $88,441,000 after buying an additional 870,550 shares during the period. 82.41% of the stock is currently owned by hedge funds and other 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.

Earnings History and Estimates for Regal Entertainment Group (NYSE:RGC)

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