Shares of Regal Entertainment Group (NYSE:RGC) have been given an average recommendation of “Hold” by the twenty research firms that are covering the company. Two investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $22.64.
Several analysts recently weighed in on RGC shares. Benchmark Co. upped their price target on Regal Entertainment Group from $24.34 to $25.54 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Wunderlich restated a “buy” rating and issued a $31.00 price target on shares of Regal Entertainment Group in a research note on Monday, June 27th. Wedbush restated a “buy” rating and issued a $25.00 price target on shares of Regal Entertainment Group in a research note on Sunday, July 24th. RBC Capital Markets downgraded Regal Entertainment Group from an “outperform” rating to a “hold” rating and set a $23.00 price target on the stock. in a research note on Tuesday, July 19th. Finally, B. Riley reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Regal Entertainment Group in a research report on Tuesday, August 16th.
In other Regal Entertainment Group news, 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 value of $280,800,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory W. Dunn sold 30,765 shares of the stock in a transaction 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 completion of the sale, the insider now owns 74,151 shares of the company’s stock, valued at approximately $1,612,784.25. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the company. Societe Generale acquired a new stake in shares of Regal Entertainment Group during the second quarter worth about $103,000. Advisor Group Inc. acquired a new stake in shares of Regal Entertainment Group during the second quarter worth about $103,000. BlueMountain Capital Management LLC acquired a new stake in shares of Regal Entertainment Group during the second quarter worth about $125,000. Pacer Advisors Inc. acquired a new stake in shares of Regal Entertainment Group during the second quarter worth about $140,000. Finally, First Manhattan Co. raised 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 last quarter. Institutional investors and hedge funds own 63.44% of the company’s stock.
Shares of Regal Entertainment Group (NYSE:RGC) traded down 0.72% during trading on Tuesday, hitting $22.21. The stock had a trading volume of 614,254 shares. The firm has a market capitalization of $3.47 billion, a P/E ratio of 23.09 and a beta of 1.11. Regal Entertainment Group has a 1-year low of $16.50 and a 1-year high of $24.19. The stock’s 50-day moving average price is $21.63 and its 200 day moving average price is $21.41.
Regal Entertainment Group (NYSE:RGC) last posted 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. The company earned $785.90 million during the quarter, compared to analysts’ expectations of $801.49 million. Regal Entertainment Group had a negative return on equity of 18.52% and a net margin of 4.80%. The business’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 EPS. On average, analysts anticipate that Regal Entertainment Group will post $0.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd were paid a $0.22 dividend. 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 3.93%. Regal Entertainment Group’s payout ratio is presently 91.67%.
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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