Regal Entertainment Group (NYSE:RGC) had its target price hoisted by Morgan Stanley from $17.00 to $18.00 in a research report report published on Thursday, October 26th. They currently have an equal weight rating on the stock.
A number of other research analysts have also commented on RGC. B. Riley reiterated a buy rating and set a $26.00 price target (down from $28.75) on shares of Regal Entertainment Group in a report on Thursday, July 13th. BidaskClub lowered Regal Entertainment Group from a hold rating to a sell rating in a report on Wednesday, July 19th. Wedbush reiterated an outperform rating and set a $23.00 price target on shares of Regal Entertainment Group in a report on Thursday, July 20th. Royal Bank Of Canada reiterated a hold rating and set a $22.00 price target on shares of Regal Entertainment Group in a report on Thursday, July 27th. Finally, Piper Jaffray Companies set a $19.00 price target on Regal Entertainment Group and gave the stock a hold rating in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $20.90.
Regal Entertainment Group (NYSE:RGC) traded up $0.56 on Thursday, reaching $15.67. The company had a trading volume of 10,977,100 shares, compared to its average volume of 2,498,948. Regal Entertainment Group has a 12-month low of $13.90 and a 12-month high of $24.79. 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 firm has a market cap of $2,372.75, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.63 and a beta of 1.05.
Regal Entertainment Group (NYSE:RGC) last posted its earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $716.00 million during the quarter, compared to analyst estimates of $701.66 million. During the same period in the previous year, the company earned $0.29 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. research analysts expect that Regal Entertainment Group will post 0.93 EPS for the current year.
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Regal Entertainment Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 31st that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date is Friday, December 1st. Regal Entertainment Group’s dividend payout ratio (DPR) is 101.15%.
In other news, Director Thomas D. Bell, Jr. purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average price of $14.76 per share, with a total value of $369,000.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Ownby purchased 7,500 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were purchased at an average cost of $14.04 per share, for a total transaction of $105,300.00. Following the purchase, the chief financial officer now directly owns 229,573 shares of the company’s stock, valued at $3,223,204.92. The disclosure for this purchase can be found here. Insiders acquired 242,500 shares of company stock worth $641,000 over the last quarter. Company insiders own 2.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of RGC. The Manufacturers Life Insurance Company lifted its stake in shares of Regal Entertainment Group by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock valued at $100,000 after acquiring an additional 373 shares during the period. IFP Advisors Inc lifted its stake in Regal Entertainment Group by 164.3% in 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 during the period. Bronfman E.L. Rothschild L.P. lifted its stake in Regal Entertainment Group by 169.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,519 shares of the company’s stock valued at $113,000 after buying an additional 3,471 shares during the period. Farmers National Bank lifted its stake in Regal Entertainment Group by 901.2% in the second quarter. Farmers National Bank now owns 81,096 shares of the company’s stock valued at $135,000 after buying an additional 72,996 shares during the period. Finally, Spectrum Management Group Inc. acquired a new position in Regal Entertainment Group in the third quarter valued at about $141,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.
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.
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