Regal Entertainment Group (NYSE:RGC) was downgraded by Macquarie from an “outperform” rating to a “neutral” rating in a report released on Wednesday, The Fly reports.

Other analysts have also recently issued research reports about the company. Royal Bank Of Canada lifted their target price on Regal Entertainment Group to $23.00 in a research report on Wednesday, November 29th. Benchmark cut their target price on Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, September 26th. MKM Partners reiterated a “buy” rating and set a $20.00 target price on shares of Regal Entertainment Group in a research report on Monday, September 18th. B. Riley reiterated a “buy” rating and set a $24.75 target price (up previously from $24.00) on shares of Regal Entertainment Group in a research report on Wednesday, October 25th. Finally, Loop Capital cut their target price on Regal Entertainment Group from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $21.73.

Shares of Regal Entertainment Group (NYSE RGC) opened at $22.68 on Wednesday. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $23.56. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of -2.84. The firm has a market capitalization of $3,254.92, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 2.18 and a beta of 1.14.

Regal Entertainment Group (NYSE:RGC) last posted its earnings results on Tuesday, October 24th. The company reported $0.07 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 16.36% and a net margin of 4.41%. The business had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $701.66 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The business’s revenue was down 11.8% compared to the same quarter last year. equities research analysts predict that Regal Entertainment Group will post 0.95 EPS for the current year.

Regal Entertainment Group declared that its Board of Directors has initiated a stock buyback plan 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 plans are generally a sign that the company’s leadership believes its stock is undervalued.

A number of hedge funds have recently modified their holdings of the stock. AXA acquired a new position in Regal Entertainment Group in the 3rd quarter valued at about $6,803,000. Coe Capital Management LLC increased its position in Regal Entertainment Group by 31.2% in the 3rd quarter. Coe Capital Management LLC now owns 117,395 shares of the company’s stock valued at $1,878,000 after acquiring an additional 27,930 shares during the period. Neuberger Berman Group LLC increased its position in Regal Entertainment Group by 20.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 5,966,512 shares of the company’s stock valued at $95,464,000 after acquiring an additional 1,032,378 shares during the period. California Public Employees Retirement System boosted its holdings in Regal Entertainment Group by 12.9% in the 3rd quarter. California Public Employees Retirement System now owns 307,040 shares of the company’s stock valued at $4,913,000 after purchasing an additional 35,040 shares in the last quarter. Finally, Tortoise Investment Management LLC purchased a new stake in Regal Entertainment Group in the 3rd quarter valued at approximately $117,000. Hedge funds and other institutional investors own 85.33% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Regal Entertainment Group (NYSE:RGC)

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