Regal Entertainment Group (RGC) Sees Large Volume Increase
Regal Entertainment Group (NYSE:RGC) saw an uptick in trading volume on Wednesday . 1,861,034 shares traded hands during mid-day trading, an increase of 26% from the previous session’s volume of 1,481,714 shares.The stock last traded at $21.41 and had previously closed at $21.48.
Several research firms recently commented on RGC. Loop Capital began coverage on Regal Entertainment Group in a research note on Tuesday, August 23rd. They issued a “hold” rating and a $22.00 price objective on the stock. B. Riley restated a “hold” rating and set a $23.00 target price on shares of Regal Entertainment Group in a research report on Tuesday, August 16th. Morgan Stanley restated a “sell” rating and set a $19.00 target price on shares of Regal Entertainment Group in a research report on Thursday, July 28th. JPMorgan Chase & Co. increased their target price on Regal Entertainment Group from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Finally, Benchmark Co. increased their target price on Regal Entertainment Group from $24.34 to $25.54 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $22.56.
The stock’s 50-day moving average price is $22.30 and its 200 day moving average price is $21.14. The company has a market cap of $3.34 billion and a PE ratio of 22.22.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings data 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. The firm had revenue of $785.90 million for the quarter, compared to analysts’ expectations of $801.49 million. During the same period last year, the firm posted $0.38 earnings per share. Regal Entertainment Group’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities analysts anticipate that Regal Entertainment Group will post $0.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Wednesday, August 31st.
In related news, COO Gregory W. Dunn sold 25,000 shares of Regal Entertainment Group stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $20.28, for a total transaction of $507,000.00. Following the transaction, the chief operating officer now owns 104,916 shares in the company, valued at approximately $2,127,696.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Philip F. Anschutz sold 13,000,000 shares of Regal Entertainment Group stock in a transaction on Monday, August 8th. The shares were 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.
A hedge fund recently raised its stake in Regal Entertainment Group stock. Bank of Montreal Can boosted its position in shares of Regal Entertainment Group (NYSE:RGC) by 32,118.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 693,994 shares of the company’s stock after buying an additional 691,840 shares during the period. Bank of Montreal Can owned about 0.45% of Regal Entertainment Group worth $13,096,000 at the end of the most recent quarter.
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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