Royal Bank Of Canada cut shares of Regal Entertainment Group (NYSE:RGC) from an outperform rating to a sector perform rating in a research note published on Wednesday morning.
A number of other brokerages also recently commented on RGC. Wedbush set a $20.00 target price on shares of Regal Entertainment Group and gave the stock a buy rating in a report on Wednesday, October 25th. Loop Capital dropped their price target on Regal Entertainment Group from $25.00 to $24.00 and set a buy rating on the stock in a research note on Monday, October 23rd. BidaskClub lowered 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 upped their price objective for the stock from $20.00 to $22.00 in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Finally, B. Riley restated a buy rating and issued a $24.75 price objective (up previously from $24.00) on shares of Regal Entertainment Group in a research report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $21.83.
Shares of Regal Entertainment Group (NYSE:RGC) opened at $22.73 on Wednesday. Regal Entertainment Group has a 1 year low of $13.90 and a 1 year high of $23.56. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of -2.84. The stock has a market cap of $3,564.24, a P/E ratio of 25.80, a PEG ratio of 2.42 and a beta of 1.14.
Regal Entertainment Group (NYSE:RGC) last released its earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share for the quarter, topping the 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 during the quarter, compared to the consensus estimate of $701.66 million. During the same period last year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. sell-side analysts expect that Regal Entertainment Group will post 0.94 EPS for the current year.
Regal Entertainment Group announced that its board has initiated a share buyback plan on Thursday, August 31st that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be paid a $0.22 dividend. The ex-dividend date is Friday, December 1st. This represents a $0.88 annualized dividend and a yield of 3.87%. Regal Entertainment Group’s payout ratio is currently 101.15%.
Hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position in shares of Regal Entertainment Group by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock worth $100,000 after buying an additional 373 shares during the period. IFP Advisors Inc raised its stake in Regal Entertainment Group by 164.3% during the second quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock valued at $111,000 after buying an additional 3,369 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of Regal Entertainment Group by 169.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,519 shares of the company’s stock worth $113,000 after purchasing an additional 3,471 shares during the period. Tortoise Investment Management LLC acquired a new stake in shares of Regal Entertainment Group during the 3rd quarter worth approximately $117,000. Finally, Farmers National Bank raised its position in shares of Regal Entertainment Group by 901.2% during the 2nd quarter. Farmers National Bank now owns 81,096 shares of the company’s stock worth $135,000 after purchasing an additional 72,996 shares during the period. 85.33% of the stock is owned by institutional investors.
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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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