Regal Entertainment Group (RGC) to Issue Quarterly Dividend of $0.22 on September 15th
Regal Entertainment Group (NYSE:RGC) announced a quarterly dividend on Thursday, July 27th, Wall Street Journal reports. Shareholders of record on Tuesday, September 5th will be paid a dividend of 0.22 per share on Friday, September 15th. This represents a $0.88 annualized dividend and a yield of 5.98%. The ex-dividend date of this dividend is Thursday, August 31st.
Regal Entertainment Group has increased its dividend payment by an average of 1.6% per year over the last three years. Regal Entertainment Group has a dividend payout ratio of 83.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Regal Entertainment Group to earn $1.19 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 73.9%.
Shares of Regal Entertainment Group (RGC) opened at 14.71 on Friday. The firm has a market cap of $2.30 billion, a P/E ratio of 13.66 and a beta of 0.92. The firm’s 50-day moving average price is $18.05 and its 200 day moving average price is $20.56. Regal Entertainment Group has a 12-month low of $13.90 and a 12-month high of $24.79.
Regal Entertainment Group (NYSE:RGC) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.02. Regal Entertainment Group had a net margin of 5.24% and a negative return on equity of 20.42%. The company had revenue of $764.20 million during the quarter, compared to the consensus estimate of $764.15 million. During the same quarter last year, the firm posted $0.23 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities analysts expect that Regal Entertainment Group will post $1.04 earnings per share for the current fiscal year.
In related news, CFO David Ownby acquired 7,500 shares of the stock in a transaction dated Thursday, August 24th. The stock was purchased at an average cost of $14.04 per share, with a total value of $105,300.00. Following the completion of the purchase, the chief financial officer now directly owns 229,573 shares in the company, valued at approximately $3,223,204.92. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
An institutional investor recently raised its position in Regal Entertainment Group stock. The Manufacturers Life Insurance Company boosted its stake in shares of Regal Entertainment Group (NYSE:RGC) by 8.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,871 shares of the company’s stock after buying an additional 373 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Regal Entertainment Group were worth $100,000 at the end of the most recent reporting period. Institutional investors own 77.19% of the company’s stock.
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Several equities research analysts recently commented on RGC shares. B. Riley upgraded Regal Entertainment Group to a “buy” rating and set a $28.75 target price on the stock in a research report on Saturday, April 29th. Loop Capital upgraded Regal Entertainment Group from a “hold” rating to a “buy” rating and upped their target price for the company from $23.00 to $25.00 in a research report on Tuesday, May 16th. Hilliard Lyons upgraded Regal Entertainment Group to a “buy” rating in a research report on Thursday, May 18th. They noted that the move was a valuation call. Moffett Nathanson lowered Regal Entertainment Group from a “neutral” rating to a “sell” rating and cut their target price for the company from $21.00 to $17.00 in a research report on Monday, June 12th. Finally, Royal Bank Of Canada cut their target price on Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Thursday, June 22nd. Five analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Regal Entertainment Group has a consensus rating of “Hold” and an average price target of $24.57.
Regal Entertainment Group Company Profile
Regal Entertainment Group is an operator of theatre circuits in the United States. As of March 31, 2017, the Company operated 7,262 screens in 559 theatres in 43 states along with Guam, Saipan, American Samoa and the District of Columbia. The Company manages its business under theatre exhibition operations segment.
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