Regal Entertainment Group (NYSE:RGC) has been assigned an average rating of “Hold” from the fifteen analysts that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $20.90.
RGC has been the subject of several recent analyst reports. Zacks Investment Research upgraded Regal Entertainment Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. B. Riley set a $24.00 target price on Regal Entertainment Group and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Loop Capital cut their target price on Regal Entertainment Group from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 23rd. Benchmark Co. cut their target price on Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, September 26th. Finally, MKM Partners restated a “buy” rating and set a $20.00 target price on shares of Regal Entertainment Group in a research note on Monday, September 18th.
In related news, Director Thomas D. Bell, Jr. acquired 25,000 shares of the firm’s 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 completion of the acquisition, the director now directly owns 126,939 shares of the company’s stock, valued at approximately $1,873,619.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen A. Kaplan acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average price of $14.87 per share, with a total value of $148,700.00. Following the completion of the acquisition, the director now directly owns 155,572 shares of the company’s stock, valued at $2,313,355.64. The disclosure for this purchase can be found here. Insiders purchased 242,500 shares of company stock valued at $641,000 over the last 90 days. 2.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA grew its holdings in Regal Entertainment Group by 30.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 156,171 shares of the company’s stock worth $2,499,000 after acquiring an additional 36,729 shares during the period. FDx Advisors Inc. grew its holdings in Regal Entertainment Group by 18.1% during the 3rd quarter. FDx Advisors Inc. now owns 26,026 shares of the company’s stock worth $416,000 after acquiring an additional 3,994 shares during the period. Global X MANAGEMENT CO LLC grew its holdings in Regal Entertainment Group by 3.4% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 386,246 shares of the company’s stock worth $6,180,000 after acquiring an additional 12,660 shares during the period. Brookstone Capital Management grew its holdings in Regal Entertainment Group by 51.5% during the 3rd quarter. Brookstone Capital Management now owns 20,535 shares of the company’s stock worth $329,000 after acquiring an additional 6,984 shares during the period. Finally, Wedbush Securities Inc. acquired a new stake in Regal Entertainment Group during the 3rd quarter worth about $242,000. Hedge funds and other institutional investors own 82.07% of the company’s stock.
Shares of Regal Entertainment Group (NYSE RGC) opened at $15.50 on Monday. The company has a debt-to-equity ratio of -2.91, a quick ratio of 0.83 and a current ratio of 0.89. Regal Entertainment Group has a 12 month low of $13.90 and a 12 month high of $24.79. The firm has a market capitalization of $2,434.00, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05.
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 16.46% and a net margin of 4.41%. The firm had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $701.66 million. During the same period in the prior year, the company earned $0.29 earnings per share. The company’s quarterly revenue was down 11.8% on a year-over-year basis. equities analysts anticipate that Regal Entertainment Group will post 0.93 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be issued a $0.22 dividend. The ex-dividend date is Friday, December 1st. This represents a $0.88 dividend on an annualized basis and a yield of 5.68%. Regal Entertainment Group’s payout ratio is 101.15%.
Regal Entertainment Group announced that its board has authorized a share buyback plan on Thursday, August 31st that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
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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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