Regal Entertainment Group (RGC) to Post Q4 2016 Earnings of $0.24 Per Share, Wedbush Forecasts
Regal Entertainment Group (NYSE:RGC) – Equities research analysts at Wedbush cut their Q4 2016 EPS estimates for Regal Entertainment Group in a note issued to investors on Wednesday. Wedbush analyst M. Pachter now expects that the brokerage will post earnings of $0.24 per share for the quarter, down from their prior estimate of $0.29. Wedbush has a “Outperform” rating and a $25.00 price target on the stock.
Regal Entertainment Group (NYSE:RGC) last issued its earnings results 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. Regal Entertainment Group had a negative return on equity of 18.52% and a net margin of 4.80%. The firm earned $785.90 million during the quarter, compared to analyst estimates of $801.49 million. During the same period in the previous year, the company earned $0.38 EPS. Regal Entertainment Group’s revenue for the quarter was down 8.9% on a year-over-year basis.
A number of other analysts also recently issued reports on RGC. Credit Suisse Group AG initiated coverage on Regal Entertainment Group in a research report on Monday, June 13th. They issued a “neutral” rating and a $20.00 target price for the company. Royal Bank Of Canada raised Regal Entertainment Group from a “sector perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Wednesday, June 15th. Wunderlich reissued a “buy” rating and issued a $31.00 target price on shares of Regal Entertainment Group in a research report on Monday, June 27th. RBC Capital Markets downgraded Regal Entertainment Group from an “outperform” rating to a “hold” rating and set a $23.00 target price for the company. in a research report on Tuesday, July 19th. Finally, Zacks Investment Research downgraded Regal Entertainment Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.53.
Shares of Regal Entertainment Group (NYSE:RGC) traded down 0.05% during trading on Friday, reaching $21.58. The company’s stock had a trading volume of 339,700 shares. Regal Entertainment Group has a 12-month low of $16.50 and a 12-month high of $24.19. The stock’s 50-day moving average is $21.57 and its 200-day moving average is $21.34. The stock has a market cap of $3.37 billion, a P/E ratio of 22.43 and a beta of 1.13.
Large investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new stake in Regal Entertainment Group during the first quarter valued at about $391,000. M&T Bank Corp raised its stake in Regal Entertainment Group by 27.9% in the first quarter. M&T Bank Corp now owns 19,388 shares of the company’s stock valued at $409,000 after buying an additional 4,225 shares in the last quarter. OLD National Bancorp IN raised its stake in Regal Entertainment Group by 8.8% in the first quarter. OLD National Bancorp IN now owns 13,333 shares of the company’s stock valued at $282,000 after buying an additional 1,074 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Regal Entertainment Group during the second quarter valued at about $573,000. Finally, BB&T Securities LLC acquired a new stake in Regal Entertainment Group during the second quarter valued at about $1,353,000. 63.44% of the stock is owned by institutional investors.
In related news, major shareholder Philip F. Anschutz sold 13,000,000 shares of Regal Entertainment Group 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter B. Brandow sold 49,024 shares of Regal Entertainment Group stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $21.51, for a total value of $1,054,506.24. Following the sale, the executive vice president now directly owns 219,028 shares of the company’s stock, valued at approximately $4,711,292.28. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
The firm also recently disclosed 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 4.08%. The ex-dividend date was Wednesday, August 31st. Regal Entertainment Group’s dividend payout ratio is 91.67%.
About Regal Entertainment Group
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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