FBR & Co Weighs in on Regal Entertainment Group’s FY2016 Earnings (RGC)
Regal Entertainment Group (NYSE:RGC) – Stock analysts at FBR & Co lifted their FY2016 earnings estimates for Regal Entertainment Group in a report issued on Monday. FBR & Co analyst B. Crockett now anticipates that the brokerage will earn $1.11 per share for the year, up from their prior forecast of $1.02. FBR & Co currently has a “Market Perform” rating and a $25.00 price objective on the stock. FBR & Co also issued estimates for Regal Entertainment Group’s Q4 2016 earnings at $0.35 EPS.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Regal Entertainment Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Loop Capital reiterated a “hold” rating and issued a $22.00 price target on shares of Regal Entertainment Group in a research report on Monday, September 26th. Wedbush reiterated an “outperform” rating and issued a $25.00 price target on shares of Regal Entertainment Group in a research report on Wednesday, September 21st. B. Riley restated a “hold” rating and set a $23.00 target price on shares of Regal Entertainment Group in a research report on Tuesday, August 16th. Finally, Morgan Stanley restated a “sell” rating and set a $19.00 target price on shares of Regal Entertainment Group in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $22.53.
Shares of Regal Entertainment Group (NYSE:RGC) opened at 22.24 on Tuesday. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 23.12 and a beta of 1.12. The company has a 50 day moving average of $21.65 and a 200-day moving average of $21.42. Regal Entertainment Group has a 12-month low of $16.50 and a 12-month high of $24.19.
Regal Entertainment Group (NYSE:RGC) last posted its earnings results on Tuesday, July 26th. The company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.01. Regal Entertainment Group had a negative return on equity of 18.52% and a net margin of 4.80%. The business earned $785.90 million during the quarter, compared to analyst estimates of $801.49 million. During the same quarter in the prior year, the company earned $0.38 EPS. The company’s revenue was down 8.9% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Wednesday, August 31st. Regal Entertainment Group’s dividend payout ratio is currently 91.67%.
In related news, insider Gregory W. Dunn sold 30,765 shares of the firm’s 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 transaction, the insider now owns 74,151 shares of the company’s stock, valued at approximately $1,612,784.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 dated Monday, August 8th. The stock was sold at an average price of $21.60, for a total transaction of $280,800,000.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Societe Generale bought a new position in Regal Entertainment Group during the second quarter valued at approximately $103,000. Advisor Group Inc. bought a new position in Regal Entertainment Group during the second quarter valued at approximately $103,000. BlueMountain Capital Management LLC bought a new position in Regal Entertainment Group during the second quarter valued at approximately $125,000. Pacer Advisors Inc. bought a new position in Regal Entertainment Group during the second quarter valued at approximately $140,000. Finally, First Manhattan Co. increased its position 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 currently 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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