Regal Entertainment Group (RGC) Given a $24.00 Price Target by B. Riley Analysts
Regal Entertainment Group (NYSE:RGC) has been given a $24.00 price objective by research analysts at B. Riley in a report issued on Wednesday. The brokerage currently has a “buy” rating on the stock. B. Riley’s target price would indicate a potential upside of 44.93% from the company’s previous close. B. Riley also issued estimates for Regal Entertainment Group’s Q4 2017 earnings at $0.45 EPS, FY2017 earnings at $0.98 EPS and FY2018 earnings at $1.14 EPS.
Several other equities research analysts have also issued reports on RGC. BidaskClub lowered shares of Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Credit Suisse Group dropped their price target on Regal Entertainment Group from $17.00 to $13.00 and set an “underperform” rating for the company in a research note on Thursday, September 28th. Zacks Investment Research upgraded Regal Entertainment Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Royal Bank Of Canada dropped their price target on Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, June 22nd. Finally, Benchmark Co. dropped their price target on Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, September 26th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Regal Entertainment Group presently has an average rating of “Hold” and a consensus target price of $22.92.
Regal Entertainment Group (RGC) traded down 1.540% during trading on Wednesday, hitting $16.305. 1,565,417 shares of the stock traded hands. The firm has a 50-day moving average price of $16.05 and a 200 day moving average price of $18.94. The company has a market cap of $2.55 billion, a P/E ratio of 15.139 and a beta of 0.97. Regal Entertainment Group has a 52-week low of $13.90 and a 52-week high of $24.79.
Regal Entertainment Group (NYSE:RGC) last released its 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). The firm had revenue of $764.20 million during the quarter, compared to analysts’ expectations of $764.15 million. Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 earnings per share. On average, equities analysts expect that Regal Entertainment Group will post $0.96 EPS for the current year.
Regal Entertainment Group announced that its Board of Directors has initiated a share repurchase program on Thursday, August 31st that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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In other Regal Entertainment Group news, CFO David Ownby bought 7,500 shares of Regal Entertainment Group stock in a transaction on Thursday, August 24th. The shares were acquired at an average price of $14.04 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas D. Bell, Jr. bought 25,000 shares of Regal Entertainment Group stock in a transaction on Tuesday, August 29th. The stock was acquired at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the purchase, the director now owns 126,939 shares of the company’s stock, valued at $1,873,619.64. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 242,500 shares of company stock valued at $641,000. 2.00% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its stake in Regal Entertainment Group by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock worth $100,000 after purchasing an additional 373 shares during the period. IFP Advisors Inc increased its stake in Regal Entertainment Group by 164.3% in the second quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock worth $111,000 after purchasing an additional 3,369 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in Regal Entertainment Group by 169.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,519 shares of the company’s stock worth $113,000 after purchasing an additional 3,471 shares during the period. Farmers National Bank increased its stake in shares of Regal Entertainment Group by 901.2% during the second quarter. Farmers National Bank now owns 81,096 shares of the company’s stock valued at $135,000 after buying an additional 72,996 shares during the period. Finally, Ffcm LLC increased its stake in shares of Regal Entertainment Group by 123.4% during the second quarter. Ffcm LLC now owns 8,109 shares of the company’s stock valued at $165,000 after buying an additional 4,480 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.
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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