FY2017 EPS Estimates for Regal Entertainment Group Raised by Barrington Research (RGC)
Regal Entertainment Group (NYSE:RGC) – Research analysts at Barrington Research raised their FY2017 earnings estimates for shares of Regal Entertainment Group in a research note issued on Thursday. Barrington Research analyst J. Goss now forecasts that the company will post earnings per share of $0.95 for the year, up from their prior forecast of $0.90. Barrington Research also issued estimates for Regal Entertainment Group’s Q4 2017 earnings at $0.40 EPS, Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.28 EPS and FY2018 earnings at $1.05 EPS.
Regal Entertainment Group (NYSE:RGC) last issued its earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.03. Regal Entertainment Group had a negative return on equity of 16.46% and a net margin of 4.41%. The business had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $701.66 million. During the same period in the prior year, the firm posted $0.29 EPS. Regal Entertainment Group’s quarterly revenue was down 11.8% compared to the same quarter last year.
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Other equities research analysts also recently issued reports about the stock. B. Riley reiterated a “buy” rating and issued a $26.00 price target on shares of Regal Entertainment Group in a research report on Tuesday, July 18th. Royal Bank Of Canada upgraded shares of Regal Entertainment Group from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $19.00 to $20.00 in a research report on Thursday. They noted that the move was a valuation call. Wedbush set a $20.00 price target on shares of Regal Entertainment Group and gave the company a “buy” rating in a research report on Wednesday, October 25th. BidaskClub downgraded shares of Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of Regal Entertainment Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Regal Entertainment Group presently has a consensus rating of “Hold” and a consensus target price of $22.90.
Regal Entertainment Group (NYSE:RGC) opened at 16.61 on Monday. Regal Entertainment Group has a one year low of $13.90 and a one year high of $24.79. The firm has a market capitalization of $2.60 billion, a PE ratio of 15.42 and a beta of 0.97. The stock has a 50 day moving average price of $16.20 and a 200-day moving average price of $18.70.
Regal Entertainment Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 31st that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, December 1st. This represents a $0.88 annualized dividend and a yield of 5.30%. Regal Entertainment Group’s dividend payout ratio is currently 101.15%.
In related news, Director Thomas D. Bell, Jr. purchased 25,000 shares of the stock in a transaction dated Tuesday, August 29th. The stock was bought at an average cost of $14.76 per share, for a total transaction of $369,000.00. Following the completion of the acquisition, the director now owns 126,939 shares of the company’s stock, valued at $1,873,619.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David Ownby purchased 7,500 shares of the stock in a transaction dated Thursday, August 24th. The shares were bought at an average price of $14.04 per share, with a total value of $105,300.00. Following the completion of the acquisition, the chief financial officer now directly owns 229,573 shares of the company’s stock, valued at approximately $3,223,204.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 242,500 shares of company stock valued at $641,000. Company insiders own 2.00% of the company’s stock.
Several large investors have recently made changes to their positions in the company. General American Investors Co. Inc. increased its holdings in shares of Regal Entertainment Group by 30.5% during the third quarter. General American Investors Co. Inc. now owns 607,845 shares of the company’s stock worth $9,726,000 after buying an additional 142,045 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Regal Entertainment Group during the third quarter worth $22,557,000. Peregrine Capital Management LLC increased its holdings in shares of Regal Entertainment Group by 51.1% during the third quarter. Peregrine Capital Management LLC now owns 543,493 shares of the company’s stock worth $8,696,000 after buying an additional 183,915 shares in the last quarter. Aperio Group LLC increased its holdings in shares of Regal Entertainment Group by 7.4% during the third quarter. Aperio Group LLC now owns 58,727 shares of the company’s stock worth $940,000 after buying an additional 4,042 shares in the last quarter. Finally, TIAA FSB increased its holdings in shares of Regal Entertainment Group by 94.8% during the third quarter. TIAA FSB now owns 19,774 shares of the company’s stock worth $316,000 after buying an additional 9,623 shares in the last quarter. Institutional investors own 81.94% 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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