B. Riley Analysts Increase Earnings Estimates for Regal Entertainment Group (RGC)
Regal Entertainment Group (NYSE:RGC) – Investment analysts at B. Riley boosted their FY2017 EPS estimates for Regal Entertainment Group in a report issued on Wednesday. B. Riley analyst E. Wold now expects that the company will earn $1.00 per share for the year, up from their prior forecast of $0.98. B. Riley has a “Buy” rating and a $24.75 price objective on the stock. B. Riley also issued estimates for Regal Entertainment Group’s Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at $0.38 EPS and FY2018 earnings at $1.15 EPS.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. Regal Entertainment Group had a net margin of 4.41% and a negative return on equity of 16.36%. The business had revenue of $716.00 million during the quarter, compared to analyst estimates of $701.66 million. During the same quarter last year, the business posted $0.29 earnings per share. Regal Entertainment Group’s revenue for the quarter was down 11.8% compared to the same quarter last year.
A number of other brokerages have also weighed in on RGC. Royal Bank Of Canada boosted their price target on Regal Entertainment Group to $23.00 in a research note on Wednesday. MKM Partners restated a “buy” rating and set a $20.00 price objective on shares of Regal Entertainment Group in a research note on Monday, September 18th. Benchmark cut their target price on shares of Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, September 26th. Wedbush set a $20.00 target price on shares of Regal Entertainment Group and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Loop Capital cut their target price on shares of Regal Entertainment Group from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.48.
Shares of Regal Entertainment Group (RGC) traded up $0.04 during trading hours on Friday, reaching $20.21. 14,727,801 shares of the company traded hands, compared to its average volume of 2,852,331. Regal Entertainment Group has a 12 month low of $13.90 and a 12 month high of $23.56. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of -2.84. The stock has a market capitalization of $3,170.00, a PE ratio of 22.31, a P/E/G ratio of 2.07 and a beta of 1.05.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Coe Capital Management LLC grew its position in Regal Entertainment Group by 31.2% in the 3rd quarter. Coe Capital Management LLC now owns 117,395 shares of the company’s stock valued at $1,878,000 after acquiring an additional 27,930 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Regal Entertainment Group by 20.9% in the third quarter. Neuberger Berman Group LLC now owns 5,966,512 shares of the company’s stock worth $95,464,000 after acquiring an additional 1,032,378 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Regal Entertainment Group by 12.9% in the third quarter. California Public Employees Retirement System now owns 307,040 shares of the company’s stock worth $4,913,000 after buying an additional 35,040 shares in the last quarter. Tortoise Investment Management LLC bought a new stake in Regal Entertainment Group in the third quarter worth $117,000. Finally, Point72 Asset Management L.P. purchased a new position in Regal Entertainment Group in the 3rd quarter valued at $5,357,000. Hedge funds and other institutional investors own 85.33% of the company’s stock.
Regal Entertainment Group declared that its board has approved a share repurchase program on Thursday, August 31st that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Friday, December 1st. Regal Entertainment Group’s dividend payout ratio is currently 106.02%.
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Regal Entertainment Group Company Profile
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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