Hilliard Lyons Lowers Regal Entertainment Group (RGC) to Neutral
Hilliard Lyons lowered shares of Regal Entertainment Group (NYSE:RGC) from a long-term buy rating to a neutral rating in a research report report published on Wednesday morning, MarketBeat.com reports.
Other analysts also recently issued reports about the company. Royal Bank Of Canada lifted their price objective on Regal Entertainment Group to $23.00 in a report on Wednesday, November 29th. Benchmark decreased their price objective on Regal Entertainment Group from $24.00 to $19.00 and set a buy rating for the company in a report on Tuesday, September 26th. MKM Partners restated a buy rating and issued a $20.00 price objective on shares of Regal Entertainment Group in a report on Monday, September 18th. B. Riley reiterated a buy rating and issued a $24.75 target price (up from $24.00) on shares of Regal Entertainment Group in a report on Wednesday, October 25th. Finally, Loop Capital reduced their target price on shares of Regal Entertainment Group from $25.00 to $24.00 and set a buy rating for the company in a report on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. Regal Entertainment Group currently has a consensus rating of Hold and a consensus price target of $21.83.
Shares of Regal Entertainment Group (NYSE:RGC) opened at $22.73 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of -2.84. The firm has a market capitalization of $3,564.24, a PE ratio of 25.80, a P/E/G ratio of 2.42 and a beta of 1.14. Regal Entertainment Group has a fifty-two week low of $13.90 and a fifty-two week high of $23.56.
Regal Entertainment Group (NYSE:RGC) last released its quarterly earnings data on Tuesday, October 24th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. The firm had revenue of $716.00 million during the quarter, compared to the consensus estimate of $701.66 million. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. research analysts anticipate that Regal Entertainment Group will post 0.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.87%. Regal Entertainment Group’s payout ratio is 101.15%.
Regal Entertainment Group announced that its Board of Directors has approved a share buyback plan on Thursday, August 31st that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of RGC. The Manufacturers Life Insurance Company boosted its position in Regal Entertainment Group by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock valued at $100,000 after buying an additional 373 shares during the last quarter. IFP Advisors Inc boosted its position in Regal Entertainment Group by 164.3% in the second quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock valued at $111,000 after buying an additional 3,369 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in Regal Entertainment Group by 169.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,519 shares of the company’s stock valued at $113,000 after buying an additional 3,471 shares during the last quarter. Tortoise Investment Management LLC purchased a new stake in Regal Entertainment Group in the third quarter valued at approximately $117,000. Finally, Farmers National Bank boosted its position in Regal Entertainment Group by 901.2% in the second quarter. Farmers National Bank now owns 81,096 shares of the company’s stock valued at $135,000 after buying an additional 72,996 shares during the last quarter. Hedge funds and other institutional investors own 85.33% of the company’s stock.
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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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