MKM Partners restated their buy rating on shares of Regal Entertainment Group (NYSE:RGC) in a research report report published on Monday morning. MKM Partners currently has a $20.00 target price on the stock.
Several other brokerages also recently commented on RGC. Royal Bank Of Canada cut their price objective on Regal Entertainment Group from $25.00 to $22.00 and set a sector perform rating on the stock in a research report on Thursday, June 22nd. Zacks Investment Research downgraded Regal Entertainment Group from a hold rating to a sell rating in a research report on Thursday, June 29th. Credit Suisse Group cut their price objective on Regal Entertainment Group from $19.00 to $17.00 and set an underperform rating on the stock in a research report on Friday, June 23rd. Moffett Nathanson downgraded Regal Entertainment Group from a neutral rating to a sell rating and cut their price objective for the company from $21.00 to $17.00 in a research report on Monday, June 12th. Finally, B. Riley reaffirmed a buy rating and issued a $26.00 price objective on shares of Regal Entertainment Group in a research report on Thursday, July 27th. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $24.29.
Shares of Regal Entertainment Group (NYSE:RGC) opened at 16.25 on Monday. The company has a 50-day moving average of $16.15 and a 200 day moving average of $19.83. The company has a market cap of $2.54 billion, a PE ratio of 15.09 and a beta of 0.96. Regal Entertainment Group has a 12-month low of $13.90 and a 12-month high of $24.79.
Regal Entertainment Group (NYSE:RGC) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.02). The business had revenue of $764.20 million during the quarter, compared to the consensus estimate of $764.15 million. Regal Entertainment Group had a net margin of 5.24% and a negative return on equity of 20.42%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. On average, equities research analysts expect that Regal Entertainment Group will post $1.00 EPS for the current year.
Regal Entertainment Group declared that its board has initiated a share repurchase program on Thursday, August 31st that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend was Thursday, August 31st. Regal Entertainment Group’s payout ratio is 82.24%.
In other news, Director Stephen A. Kaplan purchased 10,000 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were acquired at an average price of $14.87 per share, with a total value of $148,700.00. Following the transaction, the director now owns 155,572 shares of the company’s stock, valued at $2,313,355.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas D. Bell, Jr. purchased 25,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average cost of $14.76 per share, for a total transaction of $369,000.00. Following the transaction, the director now directly owns 126,939 shares in the company, valued at approximately $1,873,619.64. The disclosure for this purchase can be found here. Insiders have bought a total of 242,500 shares of company stock worth $641,000 in the last three months. Corporate insiders own 2.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. bought a new stake in Regal Entertainment Group during the first quarter valued at about $1,856,000. Legal & General Group Plc boosted its position in Regal Entertainment Group by 41.8% during the first quarter. Legal & General Group Plc now owns 96,387 shares of the company’s stock valued at $2,177,000 after purchasing an additional 28,399 shares in the last quarter. Barings LLC boosted its position in Regal Entertainment Group by 60.0% during the first quarter. Barings LLC now owns 110,858 shares of the company’s stock valued at $2,503,000 after purchasing an additional 41,558 shares in the last quarter. Dynamic Advisors Solutions LLC boosted its position in Regal Entertainment Group by 4.5% during the second quarter. Dynamic Advisors Solutions LLC now owns 183,991 shares of the company’s stock valued at $3,764,000 after purchasing an additional 7,926 shares in the last quarter. Finally, BARING ASSET MANAGEMENT Ltd boosted its position in Regal Entertainment Group by 39.0% during the second quarter. BARING ASSET MANAGEMENT Ltd now owns 55,875 shares of the company’s stock valued at $1,142,000 after purchasing an additional 15,666 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.
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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