Regal Entertainment Group (RGC) to Post Q3 2016 Earnings of $0.26 Per Share, FBR & Co Forecasts
Regal Entertainment Group (NYSE:RGC) – Research analysts at FBR & Co lifted their Q3 2016 earnings per share estimates for shares of Regal Entertainment Group in a report issued on Monday. FBR & Co analyst B. Crockett now forecasts that the firm will earn $0.26 per share for the quarter, up from their previous estimate of $0.24. FBR & Co currently has a “Market Perform” rating and a $25.00 target price on the stock. FBR & Co also issued estimates for Regal Entertainment Group’s FY2017 earnings at $1.25 EPS, FY2018 earnings at $1.40 EPS, FY2019 earnings at $1.56 EPS and FY2020 earnings at $1.75 EPS.
Other analysts also recently issued reports about the stock. Wedbush reiterated a “buy” rating and issued a $25.00 target price on shares of Regal Entertainment Group in a report on Sunday, July 24th. Benchmark Co. lifted their target price on shares of Regal Entertainment Group from $24.34 to $25.54 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Wunderlich reissued a “buy” rating and issued a $31.00 target price on shares of Regal Entertainment Group in a research report on Monday, June 27th. RBC Capital Markets downgraded shares of Regal Entertainment Group from an “outperform” rating to a “hold” rating and set a $23.00 target price on the stock. in a research report on Tuesday, July 19th. Finally, B. Riley reissued a “hold” rating and issued a $23.00 target price on shares of Regal Entertainment Group in a research report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $22.53.
Regal Entertainment Group (NYSE:RGC) opened at 22.34 on Wednesday. Regal Entertainment Group has a 52 week low of $16.50 and a 52 week high of $24.19. The stock has a 50 day moving average of $21.68 and a 200-day moving average of $21.42. The stock has a market cap of $3.49 billion, a P/E ratio of 23.22 and a beta of 1.12.
Regal Entertainment Group (NYSE:RGC) last issued its earnings results on Tuesday, July 26th. The company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate 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 business earned $785.90 million during the quarter, compared to analysts’ expectations of $801.49 million. During the same period in the prior year, the business posted $0.38 EPS. The business’s revenue was down 8.9% on a year-over-year basis.
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Wednesday, August 31st. Regal Entertainment Group’s payout ratio is 91.67%.
In other news, insider Gregory W. Dunn sold 30,765 shares of the business’s stock in a transaction on 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 in the company, valued at $1,612,784.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Philip F. Anschutz sold 13,000,000 shares of the business’s stock in a transaction on 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.
Several hedge funds have recently modified their holdings of RGC. 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. boosted 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 during the last quarter. 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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