Equities analysts expect that Regal Entertainment Group (NYSE:RGC) will announce $890.16 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Regal Entertainment Group’s earnings. The lowest sales estimate is $870.70 million and the highest is $905.90 million. Regal Entertainment Group reported sales of $812.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.5%. The company is expected to announce its next earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Regal Entertainment Group will report full-year sales of $890.16 million for the current financial year, with estimates ranging from $3.16 billion to $3.21 billion. For the next financial year, analysts forecast that the firm will post sales of $3.30 billion per share, with estimates ranging from $3.22 billion to $3.39 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Regal Entertainment Group.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $716.00 million for the quarter, compared to the consensus estimate of $701.66 million. During the same period in the previous year, the business earned $0.29 EPS. Regal Entertainment Group’s revenue for the quarter was down 11.8% compared to the same quarter last year.
RGC has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on Regal Entertainment Group to $23.00 in a research report on Wednesday, November 29th. Wedbush set a $20.00 price objective on Regal Entertainment Group and gave the company a “buy” rating in a research report on Wednesday, October 25th. B. Riley reaffirmed a “buy” rating and set a $24.75 price objective (up previously from $24.00) on shares of Regal Entertainment Group in a research report on Wednesday, October 25th. Loop Capital dropped their price objective 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. Finally, Benchmark dropped their price objective 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. Regal Entertainment Group presently has a consensus rating of “Hold” and a consensus target price of $21.83.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Regal Entertainment Group by 3.0% during the second quarter. Vanguard Group Inc. now owns 13,209,774 shares of the company’s stock worth $270,273,000 after purchasing an additional 380,951 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Regal Entertainment Group by 11.6% during the second quarter. Alliancebernstein L.P. now owns 10,092,993 shares of the company’s stock worth $206,503,000 after purchasing an additional 1,048,051 shares during the period. Epoch Investment Partners Inc. lifted its holdings in shares of Regal Entertainment Group by 1.4% during the second quarter. Epoch Investment Partners Inc. now owns 7,261,026 shares of the company’s stock worth $148,561,000 after purchasing an additional 103,100 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of Regal Entertainment Group by 20.9% during the third quarter. Neuberger Berman Group LLC now owns 5,966,512 shares of the company’s stock worth $95,464,000 after purchasing an additional 1,032,378 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Regal Entertainment Group by 18.3% during the third quarter. Eagle Asset Management Inc. now owns 5,557,432 shares of the company’s stock worth $89,919,000 after purchasing an additional 857,787 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.
Shares of Regal Entertainment Group (NYSE:RGC) opened at $22.99 on Friday. Regal Entertainment Group has a 12-month low of $13.90 and a 12-month high of $23.56. The firm has a market capitalization of $3,610.00, a PE ratio of 25.99, a P/E/G ratio of 2.44 and a beta of 1.14. The company has a debt-to-equity ratio of -2.84, a quick ratio of 0.78 and a current ratio of 0.84.
Regal Entertainment Group announced that its board has approved a share buyback program on Thursday, August 31st that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 2.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Monday, December 4th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.83%. The ex-dividend date was Friday, December 1st. Regal Entertainment Group’s dividend payout ratio is presently 106.02%.
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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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