Regal Entertainment Group Expected to Earn FY2016 Earnings of $1.00 Per Share (RGC)
Regal Entertainment Group (NYSE:RGC) – Analysts at Barrington Research increased their FY2016 EPS estimates for Regal Entertainment Group in a research report issued to clients and investors on Monday. Barrington Research analyst J. Goss now forecasts that the brokerage will post earnings per share of $1.00 for the year, up from their prior estimate of $0.95. Barrington Research also issued estimates for Regal Entertainment Group’s Q4 2016 earnings at $0.24 EPS.
Regal Entertainment Group (NYSE:RGC) last issued its earnings results on Tuesday, July 26th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The company earned $785.90 million during the quarter, compared to analysts’ expectations of $801.49 million. Regal Entertainment Group had a net margin of 4.80% and a negative return on equity of 18.52%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share.
RGC has been the subject of several other reports. Morgan Stanley reissued a “sell” rating and issued a $19.00 price target on shares of Regal Entertainment Group in a report on Thursday, July 28th. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Regal Entertainment Group in a report on Sunday, June 12th. Wedbush reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Regal Entertainment Group in a report on Wednesday, September 21st. Hilliard Lyons cut Regal Entertainment Group from a “buy” rating to a “neutral” rating in a report on Wednesday, July 27th. Finally, Loop Capital began coverage on Regal Entertainment Group in a report on Tuesday, August 23rd. They set a “hold” rating and a $22.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.53.
Shares of Regal Entertainment Group (NYSE:RGC) opened at 22.23 on Thursday. The stock has a market capitalization of $3.47 billion, a PE ratio of 23.11 and a beta of 1.12. The firm has a 50-day moving average price of $21.60 and a 200 day moving average price of $21.40. Regal Entertainment Group has a one year low of $16.50 and a one year high of $24.19.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend was Wednesday, August 31st. Regal Entertainment Group’s dividend payout ratio (DPR) is presently 91.67%.
In other news, insider Gregory W. Dunn sold 30,765 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $21.75, for a total value of $669,138.75. Following the completion of the sale, the insider now owns 74,151 shares of the company’s stock, valued at $1,612,784.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Philip F. Anschutz sold 13,000,000 shares of the company’s stock in a transaction dated 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. Company insiders own 2.00% of the company’s stock.
Several large investors have recently modified their holdings of the company. First Mercantile Trust Co. bought a new stake in shares of Regal Entertainment Group during the third quarter valued at $367,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Regal Entertainment Group by 76.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,084 shares of the company’s stock valued at $311,000 after buying an additional 6,115 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Regal Entertainment Group by 2.8% in the second quarter. Royal Bank of Canada now owns 599,814 shares of the company’s stock valued at $13,220,000 after buying an additional 16,419 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Regal Entertainment Group by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 29,320 shares of the company’s stock valued at $646,000 after buying an additional 302 shares during the last quarter. Finally, Sterling Capital Management LLC bought a new stake in shares of Regal Entertainment Group during the second quarter valued at $566,000. 63.44% of the stock is owned by institutional investors.
Regal Entertainment Group Company Profile
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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