Regal Entertainment Group (RGC) Receives Consensus Rating of “Hold” from Brokerages
Regal Entertainment Group (NYSE:RGC) has been assigned a consensus rating of “Hold” from the twenty brokerages that are currently covering the firm. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $22.64.
RGC has been the topic of a number of research reports. Credit Suisse Group AG initiated coverage on Regal Entertainment Group in a report on Monday, June 13th. They issued a “neutral” rating and a $20.00 price objective on the stock. Royal Bank Of Canada upgraded Regal Entertainment Group from a “sector perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Wednesday, June 15th. Wunderlich reiterated a “buy” rating and set a $31.00 target price on shares of Regal Entertainment Group in a research report on Monday, June 27th. Wedbush reiterated an “outperform” rating and set a $25.00 target price on shares of Regal Entertainment Group in a research report on Friday, July 15th. Finally, RBC Capital Markets downgraded Regal Entertainment Group from an “outperform” rating to a “hold” rating and set a $23.00 target price for the company. in a research report on Tuesday, July 19th.
In other news, major shareholder Philip F. Anschutz sold 13,000,000 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory W. Dunn sold 30,765 shares of the stock in a transaction dated Wednesday, September 7th. The shares were 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 directly owns 74,151 shares of the company’s stock, valued at approximately $1,612,784.25. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Societe Generale bought a new stake in shares of Regal Entertainment Group during the second quarter valued at $103,000. Advisor Group Inc. acquired a new stake in Regal Entertainment Group during the second quarter valued at approximately $103,000. BlueMountain Capital Management LLC acquired a new stake in Regal Entertainment Group during the second quarter valued at approximately $125,000. Pacer Advisors Inc. acquired a new stake in Regal Entertainment Group during the second quarter valued at approximately $140,000. Finally, First Manhattan Co. boosted its stake in Regal Entertainment Group by 138.3% in the second quarter. First Manhattan Co. now owns 7,150 shares of the company’s stock valued at $157,000 after buying an additional 4,150 shares in the last quarter. 63.44% of the stock is owned by institutional investors.
Shares of Regal Entertainment Group (NYSE:RGC) traded down 0.72% during mid-day trading on Tuesday, reaching $22.21. The company had a trading volume of 614,254 shares. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 23.09 and a beta of 1.11. Regal Entertainment Group has a 52-week low of $16.50 and a 52-week high of $24.19. The firm’s 50-day moving average price is $21.63 and its 200 day moving average price is $21.41.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by $0.01. Regal Entertainment Group had a net margin of 4.80% and a negative return on equity of 18.52%. The firm earned $785.90 million during the quarter, compared to analyst estimates of $801.49 million. During the same period in the prior year, the company earned $0.38 earnings per share. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. Equities analysts expect that Regal Entertainment Group will post $0.99 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.88 annualized dividend and a dividend yield of 3.93%. Regal Entertainment Group’s payout ratio is 91.67%.
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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