Regal Entertainment Group (RGC) Stock Rating Upgraded by Zacks Investment Research
Regal Entertainment Group (NYSE:RGC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $26.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 6.34% from the stock’s current price.
According to Zacks, “Regal Entertainment Group is a leading motion picture exhibitor operating the largest theatre circuit in the United States. The Company’s nationwide theatre circuit is comprised of Regal Cinemas Corporation, United Artists Theatre Company and Edwards Theatres, Inc. “
Other research analysts have also recently issued research reports about the company. B. Riley reiterated a “neutral” rating and set a $23.00 price objective on shares of Regal Entertainment Group in a research report on Saturday, July 30th. Hilliard Lyons lowered Regal Entertainment Group from a “buy” rating to a “neutral” rating in a report on Wednesday, July 27th. FBR & Co increased their target price on Regal Entertainment Group from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. Wedbush reissued an “outperform” rating and set a $25.00 target price on shares of Regal Entertainment Group in a report on Wednesday, September 21st. Finally, MKM Partners increased their target price on Regal Entertainment Group from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Monday, July 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Regal Entertainment Group has an average rating of “Hold” and an average target price of $24.18.
Shares of Regal Entertainment Group (NYSE:RGC) opened at 24.45 on Wednesday. Regal Entertainment Group has a one year low of $16.50 and a one year high of $24.79. The company has a market capitalization of $3.81 billion, a PE ratio of 22.39 and a beta of 0.92. The firm’s 50-day moving average price is $22.38 and its 200 day moving average price is $21.74.
Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm had revenue of $811.50 million for the quarter, compared to analysts’ expectations of $787.99 million. Regal Entertainment Group had a negative return on equity of 20.69% and a net margin of 5.31%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. Analysts anticipate that Regal Entertainment Group will post $1.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, December 5th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.60%. Regal Entertainment Group’s dividend payout ratio (DPR) is 80.73%.
In other news, insider Gregory W. Dunn sold 30,765 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Eagle Asset Management Inc. increased its stake in shares of Regal Entertainment Group by 5.5% in the second quarter. Eagle Asset Management Inc. now owns 5,620,763 shares of the company’s stock worth $123,881,000 after buying an additional 294,826 shares during the last quarter. Highland Capital Management LLC acquired a new stake in shares of Regal Entertainment Group during the second quarter worth $1,692,000. Nisa Investment Advisors LLC increased its stake in shares of Regal Entertainment Group by 54.8% in the second quarter. Nisa Investment Advisors LLC now owns 129,550 shares of the company’s stock worth $2,855,000 after buying an additional 45,850 shares during the last quarter. First Manhattan Co. increased its stake in shares of Regal Entertainment Group by 138.3% in the second quarter. First Manhattan Co. now owns 7,150 shares of the company’s stock worth $157,000 after buying an additional 4,150 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. increased its stake in shares of Regal Entertainment Group by 1.2% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 16,546 shares of the company’s stock worth $365,000 after buying an additional 198 shares during the last quarter. Institutional investors and hedge funds own 62.48% of the company’s stock.
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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