Regal Entertainment Group (RGC) Announces $0.22 Quarterly Dividend

Regal Entertainment Group (NYSE:RGC) announced a quarterly dividend on Wednesday, February 7th, Wall Street Journal reports. Shareholders of record on Friday, February 9th will be paid a dividend of 0.22 per share on Wednesday, February 21st. This represents a $0.88 annualized dividend and a yield of 3.81%. The ex-dividend date is Thursday, February 8th.

Regal Entertainment Group has a payout ratio of 94.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Regal Entertainment Group to earn $1.03 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 85.4%.

Shares of Regal Entertainment Group (NYSE:RGC) traded up $0.01 during trading hours on Wednesday, reaching $23.10. The company’s stock had a trading volume of 8,430,000 shares, compared to its average volume of 4,190,000. The company has a market cap of $3,630.00, a PE ratio of 27.83, a P/E/G ratio of 2.24 and a beta of 1.05. Regal Entertainment Group has a 12-month low of $13.90 and a 12-month high of $23.56. The company has a debt-to-equity ratio of -2.84, a current ratio of 0.84 and a quick ratio of 0.78.

A hedge fund recently raised its stake in Regal Entertainment Group stock. The Manufacturers Life Insurance Company grew its stake in Regal Entertainment Group (NYSE:RGC) by 8.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,871 shares of the company’s stock after acquiring an additional 373 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Regal Entertainment Group were worth $100,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 84.30% of the company’s stock.

Several analysts have weighed in on RGC shares. Zacks Investment Research raised 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 objective on Regal Entertainment Group and gave the stock a “buy” rating in a report on Wednesday, October 18th. Wedbush set a $19.00 price objective on Regal Entertainment Group and gave the stock a “buy” rating in a report on Thursday, October 19th. Loop Capital dropped their price objective on Regal Entertainment Group from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, October 23rd. Finally, Royal Bank of Canada raised Regal Entertainment Group from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $19.00 to $20.00 in a report on Thursday, October 26th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $22.23.

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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.

Dividend History for Regal Entertainment Group (NYSE:RGC)

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