Regal Entertainment Group’s (RGC) Buy Rating Reaffirmed at B. Riley
Regal Entertainment Group (NYSE:RGC)‘s stock had its “buy” rating reiterated by stock analysts at B. Riley in a research report issued to clients and investors on Tuesday. They currently have a $24.75 target price on the stock. B. Riley’s target price points to a potential upside of 9.13% from the stock’s current price.
A number of other equities research analysts also recently commented on RGC. BidaskClub downgraded Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. MKM Partners upgraded Regal Entertainment Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $20.00 to $22.00 in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Benchmark cut their target price on shares of Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, September 26th. Credit Suisse Group cut their target price on shares of Regal Entertainment Group from $17.00 to $13.00 and set an “underperform” rating on the stock in a research note on Thursday, September 28th. Finally, Morgan Stanley raised shares of Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 target price on the stock in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.73.
Shares of Regal Entertainment Group (NYSE:RGC) traded up $1.95 during trading hours on Tuesday, hitting $22.68. The stock had a trading volume of 74,166,500 shares, compared to its average volume of 3,201,692. Regal Entertainment Group has a one year low of $13.90 and a one year high of $23.56. The firm has a market cap of $3,254.92, a P/E ratio of 23.56, a PEG ratio of 2.18 and a beta of 1.14. The company has a debt-to-equity ratio of -2.84, a current ratio of 0.84 and a quick ratio of 0.78.
Regal Entertainment Group declared that its board has authorized 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 purchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Hamlin Capital Management LLC increased its stake in shares of Regal Entertainment Group by 1.4% in the third quarter. Hamlin Capital Management LLC now owns 4,335,507 shares of the company’s stock worth $69,368,000 after acquiring an additional 60,489 shares during the last quarter. Paradigm Capital Management Inc. NY increased its stake in shares of Regal Entertainment Group by 15.8% in the third quarter. Paradigm Capital Management Inc. NY now owns 206,425 shares of the company’s stock worth $3,303,000 after acquiring an additional 28,175 shares during the last quarter. Edge Advisors LLC increased its stake in shares of Regal Entertainment Group by 15.3% in the third quarter. Edge Advisors LLC now owns 174,421 shares of the company’s stock worth $2,789,000 after acquiring an additional 23,174 shares during the last quarter. Martingale Asset Management L P increased its stake in shares of Regal Entertainment Group by 19.0% in the second quarter. Martingale Asset Management L P now owns 498,694 shares of the company’s stock worth $10,205,000 after acquiring an additional 79,693 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Regal Entertainment Group by 17.2% in the second quarter. Royal Bank of Canada now owns 724,860 shares of the company’s stock worth $14,831,000 after acquiring an additional 106,214 shares during the last quarter. 85.33% of the stock is currently owned by institutional investors and hedge funds.
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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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