Regal Entertainment Group (NYSE:RGC) has been given a consensus rating of “Hold” by the twenty analysts that are covering the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.64.
A number of research analysts have issued reports on the company. Zacks Investment Research cut Regal Entertainment Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. Loop Capital reissued a “hold” rating and issued a $22.00 target price on shares of Regal Entertainment Group in a research note on Monday, September 26th. Wedbush reissued an “outperform” rating and issued a $25.00 target price on shares of Regal Entertainment Group in a research note on Wednesday, September 21st. B. Riley reissued a “hold” rating and issued a $23.00 target price on shares of Regal Entertainment Group in a research note on Tuesday, August 16th. Finally, Morgan Stanley reissued a “sell” rating and issued a $19.00 target price on shares of Regal Entertainment Group in a research note on Thursday, July 28th.
Regal Entertainment Group (NYSE:RGC) opened at 22.34 on Tuesday. The company has a market capitalization of $3.49 billion, a P/E ratio of 23.22 and a beta of 1.12. Regal Entertainment Group has a 52 week low of $16.50 and a 52 week high of $24.19. The company has a 50 day moving average price of $21.70 and a 200-day moving average price of $21.43.
Regal Entertainment Group (NYSE:RGC) last posted its earnings results on Tuesday, July 26th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.01. Regal Entertainment Group had a net margin of 4.80% and a negative return on equity of 18.52%. The business earned $785.90 million during the quarter, compared to analyst estimates of $801.49 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue was down 8.9% on a year-over-year basis. On average, equities analysts anticipate that Regal Entertainment Group will post $0.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.94%. Regal Entertainment Group’s dividend payout ratio (DPR) is currently 91.67%.
In other news, major shareholder Philip F. Anschutz sold 13,000,000 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $21.60, for a total transaction of $280,800,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gregory W. Dunn sold 30,765 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $21.75, for a total value of $669,138.75. Following the transaction, the insider now owns 74,151 shares in the company, valued at approximately $1,612,784.25. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in shares of Regal Entertainment Group during the first quarter worth $391,000. M&T Bank Corp increased its stake in shares of Regal Entertainment Group by 27.9% in the first quarter. M&T Bank Corp now owns 19,388 shares of the company’s stock worth $409,000 after buying an additional 4,225 shares in the last quarter. Hamlin Capital Management LLC increased its stake in shares of Regal Entertainment Group by 2.3% in the second quarter. Hamlin Capital Management LLC now owns 3,379,203 shares of the company’s stock worth $74,478,000 after buying an additional 75,497 shares in the last quarter. GW&K Investment Management LLC increased its stake in shares of Regal Entertainment Group by 6.4% in the second quarter. GW&K Investment Management LLC now owns 1,389,432 shares of the company’s stock worth $30,623,000 after buying an additional 84,016 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Regal Entertainment Group during the second quarter worth about $573,000. Institutional investors own 63.44% of the company’s stock.
About Regal Entertainment Group
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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