Several other brokerages also recently weighed in on RGC. Wedbush set a $20.00 target price on shares of Regal Entertainment Group and gave the stock a buy rating in a report on Wednesday, October 25th. Loop Capital dropped their target price on shares of Regal Entertainment Group from $25.00 to $24.00 and set a buy rating for the company in a report on Monday, October 23rd. BidaskClub downgraded shares of Regal Entertainment Group from a sell rating to a strong sell rating in a report on Thursday, August 10th. MKM Partners raised shares of Regal Entertainment Group from a neutral rating to a buy rating and upped their target price for the stock from $20.00 to $22.00 in a report on Tuesday, September 5th. They noted that the move was a valuation call. Finally, B. Riley reaffirmed a buy rating and issued a $24.75 target price (up previously from $24.00) on shares of Regal Entertainment Group in a report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $21.83.
Shares of Regal Entertainment Group (NYSE:RGC) traded down $0.10 during mid-day trading on Wednesday, hitting $22.58. 16,140,800 shares of the stock were exchanged, compared to its average volume of 3,256,752. Regal Entertainment Group has a 12-month low of $13.90 and a 12-month high of $23.56. The company has a debt-to-equity ratio of -2.84, a quick ratio of 0.78 and a current ratio of 0.84. The company has a market cap of $3,561.10, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 2.38 and a beta of 1.14.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $716.00 million during the quarter, compared to the consensus estimate of $701.66 million. Regal Entertainment Group had a net margin of 4.41% and a negative return on equity of 16.36%. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS. sell-side analysts expect that Regal Entertainment Group will post 0.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.90%. The ex-dividend date is Friday, December 1st. Regal Entertainment Group’s payout ratio is currently 101.15%.
Regal Entertainment Group announced that its Board of Directors has approved a stock repurchase program on Thursday, August 31st that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Hedge funds have recently made changes to their positions in the business. Hamlin Capital Management LLC lifted its stake in Regal Entertainment Group by 1.4% in the 3rd quarter. Hamlin Capital Management LLC now owns 4,335,507 shares of the company’s stock worth $69,368,000 after purchasing an additional 60,489 shares in the last quarter. Paradigm Capital Management Inc. NY lifted its stake in Regal Entertainment Group by 15.8% in the 3rd quarter. Paradigm Capital Management Inc. NY now owns 206,425 shares of the company’s stock worth $3,303,000 after purchasing an additional 28,175 shares in the last quarter. Edge Advisors LLC lifted its stake in Regal Entertainment Group by 15.3% in the 3rd quarter. Edge Advisors LLC now owns 174,421 shares of the company’s stock worth $2,789,000 after purchasing an additional 23,174 shares in the last quarter. Martingale Asset Management L P lifted its stake in Regal Entertainment Group by 19.0% in the 2nd quarter. Martingale Asset Management L P now owns 498,694 shares of the company’s stock worth $10,205,000 after purchasing an additional 79,693 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Regal Entertainment Group by 17.2% in the 2nd quarter. Royal Bank of Canada now owns 724,860 shares of the company’s stock worth $14,831,000 after purchasing an additional 106,214 shares in the last quarter. Institutional investors and hedge funds own 85.33% of the company’s stock.
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About Regal Entertainment Group
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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