Regal Entertainment Group (RGC) Rating Lowered to Sell at Zacks Investment Research
Regal Entertainment Group (NYSE:RGC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Regal Entertainment Group is a leading motion picture exhibitor operating the largest theatre circuit in the United States. The Company’s nationwide theatre circuit is comprised of Regal Cinemas Corporation, United Artists Theatre Company and Edwards Theatres, Inc. “
RGC has been the subject of a number of other research reports. Morgan Stanley restated a “sell” rating and issued a $19.00 price target on shares of Regal Entertainment Group in a research report on Thursday, July 28th. Credit Suisse Group AG restated a “neutral” rating and issued a $20.00 price target on shares of Regal Entertainment Group in a research report on Sunday, June 12th. Wedbush restated an “outperform” rating and issued a $25.00 price target on shares of Regal Entertainment Group in a research report on Wednesday, September 21st. Hilliard Lyons cut Regal Entertainment Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 27th. Finally, Loop Capital assumed coverage on Regal Entertainment Group in a research report on Tuesday, August 23rd. They set a “hold” rating and a $22.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $22.53.
Regal Entertainment Group (NYSE:RGC) opened at 22.28 on Wednesday. The firm has a 50-day moving average of $21.58 and a 200-day moving average of $21.40. The firm has a market cap of $3.48 billion, a PE ratio of 23.16 and a beta of 1.12. Regal Entertainment Group has a 52-week low of $16.50 and a 52-week high of $24.19.
Regal Entertainment Group (NYSE:RGC) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by $0.01. Regal Entertainment Group had a net margin of 4.80% and a negative return on equity of 18.52%. The firm earned $785.90 million during the quarter, compared to analysts’ expectations of $801.49 million. During the same quarter in the prior year, the business earned $0.38 EPS. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. Equities analysts anticipate that Regal Entertainment Group will post $0.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Wednesday, August 31st. Regal Entertainment Group’s dividend payout ratio is currently 91.67%.
In related news, insider Gregory W. Dunn sold 30,765 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $21.75, for a total transaction of $669,138.75. Following the sale, the insider now directly owns 74,151 shares in the company, valued at approximately $1,612,784.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Philip F. Anschutz sold 13,000,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $21.60, for a total value of $280,800,000.00. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Regal Entertainment Group by 76.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,084 shares of the company’s stock valued at $311,000 after buying an additional 6,115 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Regal Entertainment Group by 2.8% in the second quarter. Royal Bank of Canada now owns 599,814 shares of the company’s stock valued at $13,220,000 after buying an additional 16,419 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Regal Entertainment Group by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 29,320 shares of the company’s stock valued at $646,000 after buying an additional 302 shares during the last quarter. Sterling Capital Management LLC bought a new stake in shares of Regal Entertainment Group during the second quarter valued at approximately $566,000. Finally, Farmers National Bank bought a new stake in shares of Regal Entertainment Group during the second quarter valued at approximately $178,000. Institutional investors and hedge funds own 63.44% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.