Barrington Research Equities Analysts Lift Earnings Estimates for Regal Entertainment Group (RGC)
Regal Entertainment Group (NYSE:RGC) – Investment analysts at Barrington Research upped their Q3 2016 EPS estimates for Regal Entertainment Group in a research report issued to clients and investors on Monday. Barrington Research analyst J. Goss now anticipates that the firm will earn $0.26 per share for the quarter, up from their previous estimate of $0.19.
Several other brokerages have also weighed in on RGC. B. Riley reiterated a “neutral” rating and issued a $23.00 price objective on shares of Regal Entertainment Group in a research report on Monday, July 25th. MKM Partners increased their price objective on Regal Entertainment Group from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Monday, July 25th. Hilliard Lyons lowered Regal Entertainment Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 27th. Benchmark Co. increased their price objective 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. Finally, FBR & Co increased their price objective on Regal Entertainment Group from $22.00 to $25.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. Regal Entertainment Group currently has a consensus rating of “Hold” and a consensus target price of $22.53.
Regal Entertainment Group (NYSE:RGC) opened at 22.28 on Wednesday. Regal Entertainment Group has a 52-week low of $16.50 and a 52-week high of $24.19. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 23.16 and a beta of 1.12. The stock has a 50 day moving average price of $21.58 and a 200 day moving average price of $21.40.
Regal Entertainment Group (NYSE:RGC) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The company earned $785.90 million during the quarter, compared to the consensus estimate of $801.49 million. Regal Entertainment Group had a negative return on equity of 18.52% and a net margin of 4.80%. The company’s revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 earnings per share.
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. This represents a $0.88 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Wednesday, August 31st. Regal Entertainment Group’s dividend payout ratio is presently 91.67%.
In other Regal Entertainment Group news, major shareholder Philip F. Anschutz sold 13,000,000 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gregory W. Dunn sold 30,765 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were 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 in the company, valued at $1,612,784.25. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board purchased a new stake in Regal Entertainment Group during the first quarter worth approximately $391,000. M&T Bank Corp boosted 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 worth $409,000 after buying an additional 4,225 shares during the period. Hamlin Capital Management LLC boosted its stake in Regal Entertainment Group by 2.3% in the second quarter. Hamlin Capital Management LLC now owns 3,379,203 shares of the company’s stock worth $74,478,000 after buying an additional 75,497 shares during the period. GW&K Investment Management LLC boosted its stake in Regal Entertainment Group by 6.4% in the second quarter. GW&K Investment Management LLC now owns 1,389,432 shares of the company’s stock worth $30,623,000 after buying an additional 84,016 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Regal Entertainment Group during the second quarter worth approximately $573,000. Institutional investors own 63.44% of the company’s stock.
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.
Receive News & Ratings for Regal Entertainment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Entertainment Group and related companies with MarketBeat.com's FREE daily email newsletter.