$763.02 Million in Sales Expected for Regal Entertainment Group (RGC) This Quarter
Wall Street analysts forecast that Regal Entertainment Group (NYSE:RGC) will report $763.02 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Regal Entertainment Group’s earnings, with the highest sales estimate coming in at $785.90 million and the lowest estimate coming in at $747.60 million. Regal Entertainment Group reported sales of $811.50 million in the same quarter last year, which indicates a negative year-over-year growth rate of 6%. The business is expected to issue its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that Regal Entertainment Group will report full year sales of $763.02 million for the current fiscal year, with estimates ranging from $3.20 billion to $3.30 billion. For the next year, analysts forecast that the business will post sales of $3.37 billion per share, with estimates ranging from $3.33 billion to $3.43 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Regal Entertainment Group.
Regal Entertainment Group (NYSE:RGC) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $764.20 million for the quarter, compared to analysts’ expectations of $764.15 million. Regal Entertainment Group had a net margin of 5.24% and a negative return on equity of 20.42%. Regal Entertainment Group’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.23 earnings per share.
A number of research firms recently commented on RGC. B. Riley raised shares of Regal Entertainment Group to a “buy” rating and set a $28.75 target price on the stock in a research report on Saturday, April 29th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Regal Entertainment Group in a research report on Thursday, April 27th. Zacks Investment Research raised shares of Regal Entertainment Group from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Thursday, April 20th. Finally, BidaskClub downgraded shares of Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research report on Thursday. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.57.
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Several hedge funds have recently modified their holdings of RGC. UBS Asset Management Americas Inc. increased its stake in shares of Regal Entertainment Group by 6.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 122,062 shares of the company’s stock valued at $2,515,000 after buying an additional 6,882 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Regal Entertainment Group by 11.0% in the fourth quarter. Teachers Advisors LLC now owns 425,925 shares of the company’s stock valued at $8,774,000 after buying an additional 42,069 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Regal Entertainment Group during the first quarter valued at $497,000. Round Table Services LLC purchased a new stake in shares of Regal Entertainment Group during the first quarter valued at $202,000. Finally, Dalton Greiner Hartman Maher & Co. increased its stake in shares of Regal Entertainment Group by 5.1% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 17,820 shares of the company’s stock valued at $402,000 after buying an additional 861 shares during the last quarter. 77.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of Regal Entertainment Group (RGC) opened at 17.41 on Friday. Regal Entertainment Group has a one year low of $17.33 and a one year high of $24.79. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 16.17 and a beta of 0.92. The stock’s 50 day moving average is $19.37 and its 200-day moving average is $21.08.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Thursday, August 31st. Regal Entertainment Group’s payout ratio is 82.24%.
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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