Regal Entertainment Group (RGC) Stock Rating Reaffirmed by Loop Capital
Regal Entertainment Group (NYSE:RGC)‘s stock had its “hold” rating reissued by equities research analysts at Loop Capital in a research note issued to investors on Monday. They currently have a $22.00 target price on the stock. Loop Capital’s price objective suggests a potential upside of 1.85% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Regal Entertainment Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 21st. Wedbush reissued a “buy” rating and set a $25.00 target price on shares of Regal Entertainment Group in a report on Sunday, July 24th. RBC Capital Markets cut Regal Entertainment Group from an “outperform” rating to a “hold” rating and set a $23.00 target price for the company. in a report on Tuesday, July 19th. B. Riley reissued a “hold” rating and set a $23.00 target price on shares of Regal Entertainment Group in a report on Tuesday, August 16th. Finally, Credit Suisse Group AG assumed coverage on Regal Entertainment Group in a report on Monday, June 13th. They set a “neutral” rating and a $20.00 target price for the company. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $22.53.
Regal Entertainment Group (NYSE:RGC) opened at 21.60 on Monday. The company’s 50-day moving average price is $21.55 and its 200-day moving average price is $21.37. Regal Entertainment Group has a 12-month low of $16.50 and a 12-month high of $24.19. The stock has a market cap of $3.37 billion, a PE ratio of 22.45 and a beta of 1.13.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $785.90 million for the quarter, compared to analysts’ expectations of $801.49 million. Regal Entertainment Group had a negative return on equity of 18.52% and a net margin of 4.80%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 EPS. On average, equities analysts expect that Regal Entertainment Group will post $0.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.88 annualized dividend and a dividend yield of 4.07%. Regal Entertainment Group’s dividend payout ratio is currently 91.67%.
In other news, insider Gregory W. Dunn sold 30,765 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $21.75, for a total transaction of $669,138.75. Following the completion of the transaction, the insider now directly owns 74,151 shares in the company, valued at $1,612,784.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Philip F. Anschutz sold 13,000,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $21.60, for a total value of $280,800,000.00. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in Regal Entertainment Group during the first quarter valued at approximately $391,000. M&T Bank Corp raised its position in Regal Entertainment Group by 27.9% in the first quarter. M&T Bank Corp now owns 19,388 shares of the company’s stock valued at $409,000 after buying an additional 4,225 shares in the last quarter. OLD National Bancorp IN raised its position in Regal Entertainment Group by 8.8% in the first quarter. OLD National Bancorp IN now owns 13,333 shares of the company’s stock valued at $282,000 after buying an additional 1,074 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Regal Entertainment Group during the second quarter valued at approximately $573,000. Finally, BB&T Securities LLC purchased a new position in Regal Entertainment Group during the second quarter valued at approximately $1,353,000. Institutional investors and hedge funds own 63.44% of the company’s stock.
About Regal Entertainment Group
Regal Entertainment Group (Regal) operates a theatre circuit in the United States. The Company operates in the segment of theatre exhibition operations. It develops, acquires and operates multi-screen theatres in mid-sized metropolitan markets and suburban growth areas of metropolitan markets throughout the United States.
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