Regal Entertainment Group (RGC) Given New $24.00 Price Target at Loop Capital
Regal Entertainment Group (NYSE:RGC) had its price objective lowered by equities research analysts at Loop Capital from $25.00 to $24.00 in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the stock. Loop Capital’s price target suggests a potential upside of 47.33% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Morgan Stanley cut their price target on shares of Regal Entertainment Group from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Regal Entertainment Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. B. Riley set a $24.00 price target on shares of Regal Entertainment Group and gave the company a “buy” rating in a report on Wednesday, October 18th. Benchmark Co. cut their price target on shares of Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, September 26th. Finally, MKM Partners reiterated a “buy” rating and set a $20.00 price target on shares of Regal Entertainment Group in a report on Monday, September 18th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $22.85.
Shares of Regal Entertainment Group (NYSE RGC) traded up 0.18% on Monday, hitting $16.32. The stock had a trading volume of 1,323,791 shares. The company has a 50 day moving average price of $16.09 and a 200-day moving average price of $18.89. Regal Entertainment Group has a 12 month low of $13.90 and a 12 month high of $24.79. The stock has a market cap of $2.55 billion, a PE ratio of 15.15 and a beta of 0.97.
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). The business had revenue of $764.20 million for the quarter, compared to analysts’ expectations of $764.15 million. Regal Entertainment Group had a net margin of 5.24% and a negative return on equity of 20.42%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share. On average, equities research analysts anticipate that Regal Entertainment Group will post $0.96 earnings per share for the current year.
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 repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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In related news, Director Stephen A. Kaplan bought 10,000 shares of the company’s stock in a transaction on Friday, August 25th. The shares were acquired at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the purchase, the director now directly owns 155,572 shares of the company’s stock, valued at $2,313,355.64. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David Ownby bought 7,500 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was bought at an average price 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 in the company, valued at $3,223,204.92. The disclosure for this purchase can be found here. Insiders acquired a total of 242,500 shares of company stock worth $641,000 over the last 90 days. Insiders own 2.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of RGC. Eagle Asset Management grew its stake in Regal Entertainment Group by 148.8% in the 3rd quarter. Eagle Asset Management now owns 10,296,636 shares of the company’s stock worth $192,444,000 after acquiring an additional 6,157,301 shares in the last quarter. Nisa Investment Advisors boosted its stake in shares of Regal Entertainment Group by 3.9% during the fourth quarter. Nisa Investment Advisors now owns 93,700 shares of the company’s stock valued at $1,768,000 after purchasing an additional 3,500 shares in the last quarter. Three Peaks Capital Management boosted its stake in shares of Regal Entertainment Group by 19.2% during the fourth quarter. Three Peaks Capital Management now owns 217,087 shares of the company’s stock valued at $4,096,000 after purchasing an additional 34,993 shares in the last quarter. GW&K Investment Management boosted its stake in shares of Regal Entertainment Group by 14.5% during the fourth quarter. GW&K Investment Management now owns 1,106,743 shares of the company’s stock valued at $20,884,000 after purchasing an additional 140,338 shares in the last quarter. Finally, Dynamic Advisors Solutions boosted its stake in shares of Regal Entertainment Group by 3.6% during the fourth quarter. Dynamic Advisors Solutions now owns 177,620 shares of the company’s stock valued at $3,352,000 after purchasing an additional 6,177 shares in the last quarter. Institutional investors and hedge funds 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.
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