Other analysts also recently issued research reports about the stock. B. Riley reaffirmed a neutral rating and set a $23.00 price target on shares of Regal Entertainment Group in a report on Monday, July 25th. Credit Suisse Group AG reaffirmed a neutral rating and set a $20.00 price target on shares of Regal Entertainment Group in a report on Sunday, June 12th. Hilliard Lyons downgraded shares of Regal Entertainment Group from a buy rating to a neutral rating in a report on Wednesday, July 27th. Wedbush reaffirmed an outperform rating and set a $25.00 price target on shares of Regal Entertainment Group in a report on Friday, July 15th. Finally, Zacks Investment Research downgraded shares of Regal Entertainment Group from a hold rating to a strong sell rating in a report on Thursday, July 21st. Two equities 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 stock. The stock presently has a consensus rating of Hold and a consensus price target of $22.53.
Shares of Regal Entertainment Group (NYSE:RGC) opened at 21.83 on Monday. The company has a market capitalization of $3.41 billion, a PE ratio of 22.69 and a beta of 1.13. The firm’s 50-day moving average is $21.55 and its 200-day moving average is $21.37. Regal Entertainment Group has a 12-month low of $16.50 and a 12-month high of $24.19.
Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ 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 the consensus estimate of $801.49 million. During the same period in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, equities research analysts anticipate that Regal Entertainment Group will post $0.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, September 2nd were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Wednesday, August 31st. Regal Entertainment Group’s dividend payout ratio is presently 91.67%.
In related news, insider Gregory W. Dunn sold 30,765 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $21.75, for a total transaction of $669,138.75. Following the transaction, the insider now directly owns 74,151 shares of the company’s stock, valued at $1,612,784.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Philip F. Anschutz sold 13,000,000 shares of the stock in a transaction 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 disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Regal Entertainment Group by 76.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,084 shares of the company’s stock valued at $311,000 after buying an additional 6,115 shares in the last quarter. Royal Bank of Canada raised its position in shares of Regal Entertainment Group by 2.8% in the second quarter. Royal Bank of Canada now owns 599,814 shares of the company’s stock valued at $13,220,000 after buying an additional 16,419 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Regal Entertainment Group by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 29,320 shares of the company’s stock valued at $646,000 after buying an additional 302 shares in the last quarter. Sterling Capital Management LLC bought a new position in shares of Regal Entertainment Group during the second quarter valued at about $566,000. Finally, Farmers National Bank bought a new position in shares of Regal Entertainment Group during the second quarter valued at about $178,000. 63.44% of the stock is currently owned by institutional investors and hedge funds.
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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