Regal Entertainment Group (NYSE:RGC) – Equities researchers at FBR & Co raised their Q3 2016 earnings estimates for shares of Regal Entertainment Group in a research report issued to clients and investors on Monday. FBR & Co analyst B. Crockett now anticipates that the firm will earn $0.26 per share for the quarter, up from their previous forecast of $0.24. FBR & Co has a “Market Perform” rating and a $25.00 price target on the stock. FBR & Co also issued estimates for Regal Entertainment Group’s FY2017 earnings at $1.25 EPS, FY2018 earnings at $1.40 EPS, FY2019 earnings at $1.56 EPS and FY2020 earnings at $1.75 EPS.
Regal Entertainment Group (NYSE:RGC) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $801.49 million. During the same period in the previous year, the business earned $0.38 EPS. The business’s revenue was down 8.9% on a year-over-year basis.
RGC has been the subject of several other research reports. Morgan Stanley reaffirmed a “sell” rating and issued a $19.00 price objective on shares of Regal Entertainment Group in a report on Thursday, July 28th. Wedbush reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Regal Entertainment Group in a report on Wednesday, September 21st. Hilliard Lyons lowered Regal Entertainment Group from a “buy” rating to a “neutral” rating in a report on Wednesday, July 27th. Loop Capital began coverage on Regal Entertainment Group in a report on Tuesday, August 23rd. They issued a “hold” rating and a $22.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Regal Entertainment Group from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $22.53.
Shares of Regal Entertainment Group (NYSE:RGC) opened at 22.34 on Wednesday. The stock has a market cap of $3.49 billion, a PE ratio of 23.22 and a beta of 1.12. The firm has a 50 day moving average price of $21.68 and a 200 day moving average price of $21.42. Regal Entertainment Group has a 12-month low of $16.50 and a 12-month high of $24.19.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.88 dividend on an annualized basis and a yield of 3.94%. Regal Entertainment Group’s dividend payout ratio (DPR) is presently 91.67%.
In other Regal Entertainment Group news, major shareholder Philip F. Anschutz sold 13,000,000 shares of the company’s 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Gregory W. Dunn sold 30,765 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $21.75, for a total value of $669,138.75. Following the sale, the insider now owns 74,151 shares in the company, valued at $1,612,784.25. 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 modified their holdings of the stock. Societe Generale bought a new stake in shares of Regal Entertainment Group during the second quarter worth about $103,000. Advisor Group Inc. bought a new stake in shares of Regal Entertainment Group during the second quarter worth about $103,000. BlueMountain Capital Management LLC bought a new stake in shares of Regal Entertainment Group during the second quarter worth about $125,000. Pacer Advisors Inc. bought a new stake in shares of Regal Entertainment Group during the second quarter worth about $140,000. Finally, First Manhattan Co. increased its stake in shares of Regal Entertainment Group by 138.3% in the second quarter. First Manhattan Co. now owns 7,150 shares of the company’s stock worth $157,000 after buying an additional 4,150 shares during the period. Institutional investors and hedge funds own 63.44% of the company’s stock.
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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