Regal Entertainment Group (NYSE:RGC) has been assigned a $19.00 price target by research analysts at Wedbush in a report released on Thursday, October 19th. The brokerage currently has a “buy” rating on the stock. Wedbush’s target price points to a potential upside of 14.39% from the stock’s current price.
A number of other brokerages have also recently issued reports on RGC. Royal Bank Of Canada reduced their target price on Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Thursday, June 22nd. B. Riley restated a “buy” rating and set a $26.00 target price on shares of Regal Entertainment Group in a report on Tuesday, July 18th. Piper Jaffray Companies set a $19.00 target price on Regal Entertainment Group and gave the stock a “hold” rating in a report on Thursday, July 27th. BidaskClub cut Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Finally, MKM Partners upgraded Regal Entertainment Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $22.00 in a report on Tuesday, September 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $22.90.
Shares of Regal Entertainment Group (NYSE RGC) opened at 16.61 on Thursday. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $24.79. The company’s 50-day moving average is $16.14 and its 200-day moving average is $18.75. The firm has a market cap of $2.60 billion, a PE ratio of 15.42 and a beta of 0.97.
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 firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $701.66 million. During the same quarter last year, the business earned $0.29 earnings per share. The company’s revenue was down 11.8% compared to the same quarter last year. Analysts forecast that Regal Entertainment Group will post $0.96 EPS for the current fiscal year.
Regal Entertainment Group declared that its board has authorized a share repurchase program on Thursday, August 31st that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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In other news, Director Thomas D. Bell, Jr. purchased 25,000 shares of Regal Entertainment Group stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average cost of $14.76 per share, for a total transaction of $369,000.00. Following the purchase, the director now directly owns 126,939 shares of the company’s stock, valued at approximately $1,873,619.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen A. Kaplan purchased 10,000 shares of Regal Entertainment Group stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average price of $14.87 per share, with a total value of $148,700.00. Following the completion of the purchase, the director now directly owns 155,572 shares in the company, valued at $2,313,355.64. The disclosure for this purchase can be found here. Insiders have purchased a total of 242,500 shares of company stock worth $641,000 over the last three months. 2.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RGC. Vanguard Group Inc. lifted its position in shares of Regal Entertainment Group by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 13,209,774 shares of the company’s stock valued at $270,273,000 after acquiring an additional 380,951 shares during the period. Alliancebernstein L.P. lifted its position in shares of Regal Entertainment Group by 11.6% during the 2nd quarter. Alliancebernstein L.P. now owns 10,092,993 shares of the company’s stock valued at $206,503,000 after acquiring an additional 1,048,051 shares during the period. Epoch Investment Partners Inc. lifted its position in shares of Regal Entertainment Group by 1.4% during the 2nd quarter. Epoch Investment Partners Inc. now owns 7,261,026 shares of the company’s stock valued at $148,561,000 after acquiring an additional 103,100 shares during the period. BlackRock Inc. lifted its position in shares of Regal Entertainment Group by 20.7% during the 2nd quarter. BlackRock Inc. now owns 4,659,346 shares of the company’s stock valued at $95,330,000 after acquiring an additional 797,847 shares during the period. Finally, Hamlin Capital Management LLC lifted its position in shares of Regal Entertainment Group by 1.4% during the 3rd quarter. Hamlin Capital Management LLC now owns 4,335,507 shares of the company’s stock valued at $69,368,000 after acquiring an additional 60,489 shares during the period. Institutional investors and hedge funds 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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