Regal Entertainment Group (RGC) Getting Positive Press Coverage, Report Shows
Media coverage about Regal Entertainment Group (NYSE:RGC) has trended positive on Wednesday, Accern reports. The research firm rates the sentiment of news coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Regal Entertainment Group earned a media sentiment score of 0.29 on Accern’s scale. Accern also assigned media headlines about the company an impact score of 46.2566990707308 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the news stories that may have impacted Accern’s scoring:
- Hot Stock under Consideration: Regal Entertainment Group (NYSE: RGC) – Alpha Beta Stock (alphabetastock.com)
- Regal Entertainment Group Class (NYSE:RGC) Experiences Heavy … – First News 24 (firstnewspaper24.com)
- Why Did Movie Theater Stocks Sink Today? – Nasdaq (nasdaq.com)
- Regal Entertainment Group (RGC) Earns Outperform Rating from Wedbush (americanbankingnews.com)
- Regal Entertainment Group (RGC) Expected to Post Quarterly Sales of $743.42 Million (americanbankingnews.com)
Regal Entertainment Group (NYSE RGC) opened at 16.00 on Wednesday. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $24.79. The firm has a market cap of $2.50 billion, a P/E ratio of 14.86 and a beta of 0.97. The company’s 50 day moving average is $15.73 and its 200-day moving average is $19.20.
Regal Entertainment Group (NYSE:RGC) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.02). Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The firm had revenue of $764.20 million for the quarter, compared to analysts’ expectations of $764.15 million. During the same period last year, the firm earned $0.23 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. Equities analysts expect that Regal Entertainment Group will post $0.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 5.50%. The ex-dividend date was Thursday, August 31st. Regal Entertainment Group’s payout ratio is currently 82.24%.
Regal Entertainment Group announced that its board has authorized a stock buyback program on Thursday, August 31st that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several research analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and issued a $26.00 price objective on shares of Regal Entertainment Group in a report on Tuesday, July 18th. Wedbush reiterated a “buy” rating on shares of Regal Entertainment Group in a report on Thursday, July 27th. MKM Partners upgraded Regal Entertainment Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $20.00 to $22.00 in a report on Tuesday, September 5th. They noted that the move was a valuation call. Benchmark Co. decreased their price objective on Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, September 26th. Finally, Morgan Stanley upgraded Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price objective on the stock in a report on Thursday, October 5th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Regal Entertainment Group currently has an average rating of “Hold” and a consensus price target of $23.38.
In related news, Director Thomas D. Bell, Jr. bought 25,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average price of $14.76 per share, with a total value of $369,000.00. Following the transaction, the director now owns 126,939 shares of the company’s stock, valued at $1,873,619.64. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David Ownby bought 7,500 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was bought at an average cost of $14.04 per share, with a total value of $105,300.00. Following the transaction, the chief financial officer now directly owns 229,573 shares in the company, valued at approximately $3,223,204.92. The disclosure for this purchase can be found here. Insiders bought a total of 242,500 shares of company stock valued at $641,000 in the last three months. Insiders own 2.00% of the company’s stock.
About Regal Entertainment Group
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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