Regal Entertainment Group (RGC) Rating Reiterated by MKM Partners
Regal Entertainment Group (NYSE:RGC)‘s stock had its “buy” rating restated by analysts at MKM Partners in a research note issued to investors on Monday. They presently have a $20.00 price target on the stock. MKM Partners’ price target would suggest a potential upside of 24.84% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating and set a $26.00 target price on shares of Regal Entertainment Group in a research note on Tuesday, July 18th. Royal Bank of Canada reaffirmed a “hold” rating and set a $22.00 target price on shares of Regal Entertainment Group in a research note on Thursday, July 27th. BidaskClub downgraded shares of Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Piper Jaffray Companies set a $19.00 target price on shares of Regal Entertainment Group and gave the stock a “hold” rating in a research note on Thursday, July 27th. Finally, Wedbush reaffirmed a “buy” rating on shares of Regal Entertainment Group in a research note on Thursday, July 27th. Five investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Regal Entertainment Group has an average rating of “Hold” and a consensus price target of $24.29.
Regal Entertainment Group (NYSE RGC) opened at 16.02 on Monday. The company’s 50-day moving average is $16.15 and its 200 day moving average is $19.83. Regal Entertainment Group has a one year low of $13.90 and a one year high of $24.79. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 14.87 and a beta of 0.96.
Regal Entertainment Group (NYSE:RGC) last announced its earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The business had revenue of $764.20 million for the quarter, compared to analysts’ expectations of $764.15 million. During the same period in the previous year, the company earned $0.23 earnings per share. Regal Entertainment Group’s quarterly revenue was down 2.8% on a year-over-year basis. Equities analysts expect that Regal Entertainment Group will post $1.01 EPS for the current year.
Regal Entertainment Group declared that its board has approved a share buyback plan on Thursday, August 31st that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Stephen A. Kaplan bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were purchased at an average cost of $14.87 per share, with a total value of $148,700.00. Following the transaction, the director now directly owns 155,572 shares of the company’s stock, valued at approximately $2,313,355.64. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas D. Bell, Jr. bought 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average cost of $14.76 per share, for a total transaction of $369,000.00. Following the completion of the transaction, the director now directly owns 126,939 shares in the company, valued at $1,873,619.64. The disclosure for this purchase can be found here. Insiders purchased a total of 242,500 shares of company stock worth $641,000 over the last ninety days. Insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of RGC. BlackRock Inc. grew its position in shares of Regal Entertainment Group by 10,841.3% in the 1st quarter. BlackRock Inc. now owns 3,861,499 shares of the company’s stock valued at $87,192,000 after buying an additional 3,826,206 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new position in shares of Regal Entertainment Group in the 2nd quarter valued at $48,366,000. Alliancebernstein L.P. grew its position in shares of Regal Entertainment Group by 24.4% in the 1st quarter. Alliancebernstein L.P. now owns 9,044,942 shares of the company’s stock valued at $204,235,000 after buying an additional 1,774,446 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Regal Entertainment Group by 10.7% in the 1st quarter. Vanguard Group Inc. now owns 12,828,823 shares of the company’s stock valued at $289,675,000 after buying an additional 1,241,331 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Regal Entertainment Group in the 1st quarter valued at $20,986,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.
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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