Regal Entertainment Group Plans Quarterly Dividend of $0.22 (rgc)
Regal Entertainment Group (NYSE:rgc) declared a quarterly dividend on Friday, October 28th. Stockholders of record on Monday, December 5th will be paid a dividend of 0.22 per share on Thursday, December 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Thursday, December 1st.
Regal Entertainment Group (NYSE:RGC) opened at 23.74 on Friday. Regal Entertainment Group has a 1-year low of $16.50 and a 1-year high of $24.79. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 21.74 and a beta of 0.92. The company’s 50-day moving average price is $22.74 and its 200 day moving average price is $21.85.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm earned $811.50 million during 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%. Regal Entertainment Group’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, equities analysts expect that Regal Entertainment Group will post $1.06 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on the company. B. Riley reaffirmed a “neutral” rating and set a $23.00 price objective on shares of Regal Entertainment Group in a report on Saturday, July 30th. Zacks Investment Research raised Regal Entertainment Group from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, November 16th. Wedbush reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Regal Entertainment Group in a report on Monday, October 24th. Goldman Sachs Group Inc. raised Regal Entertainment Group from a “neutral” rating to a “conviction-buy” rating and set a $47.00 price objective for the company in a report on Tuesday, November 1st. Finally, Loop Capital began coverage on Regal Entertainment Group in a research report on Tuesday, August 23rd. They set a “hold” rating and a $22.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $24.18.
In other Regal Entertainment Group news, insider Gregory W. Dunn sold 30,765 shares of the business’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 sale, the insider now owns 74,151 shares of the company’s stock, valued at $1,612,784.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Philip F. Anschutz sold 13,000,000 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $22.95, for a total value of $298,350,000.00. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
A number of large investors have recently bought and sold shares of RGC. Morgan Stanley increased its stake in Regal Entertainment Group by 48.7% in the third quarter. Morgan Stanley now owns 202,481 shares of the company’s stock worth $4,404,000 after buying an additional 66,359 shares during the period. Principal Financial Group Inc. increased its stake in Regal Entertainment Group by 20.2% in the third quarter. Principal Financial Group Inc. now owns 50,028 shares of the company’s stock worth $1,088,000 after buying an additional 8,414 shares during the period. Northern Trust Corp increased its stake in Regal Entertainment Group by 5.0% in the third quarter. Northern Trust Corp now owns 867,149 shares of the company’s stock worth $18,861,000 after buying an additional 41,310 shares during the period. BlackRock Group LTD increased its stake in Regal Entertainment Group by 5.7% in the third quarter. BlackRock Group LTD now owns 59,682 shares of the company’s stock worth $1,298,000 after buying an additional 3,245 shares during the period. Finally, BlackRock Fund Advisors increased its stake in Regal Entertainment Group by 5.9% in the third quarter. BlackRock Fund Advisors now owns 806,845 shares of the company’s stock worth $17,549,000 after buying an additional 44,901 shares during the period. 62.68% of the stock is owned by hedge funds and other 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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