Regal Entertainment Group (RGC) Stake Lessened by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. cut its stake in shares of Regal Entertainment Group (NYSE:RGC) by 29.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,310 shares of the company’s stock after selling 26,205 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Regal Entertainment Group were worth $981,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Camelot Portfolios LLC raised its position in Regal Entertainment Group by 1.0% during the second quarter. Camelot Portfolios LLC now owns 20,941 shares of the company’s stock valued at $428,000 after buying an additional 205 shares during the period. The Manufacturers Life Insurance Company raised its position in Regal Entertainment Group by 8.3% during 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 period. MML Investors Services LLC raised its position in Regal Entertainment Group by 3.4% during the second quarter. MML Investors Services LLC now owns 11,529 shares of the company’s stock valued at $236,000 after buying an additional 381 shares during the period. Commerce Bank raised its position in Regal Entertainment Group by 4.7% during the second quarter. Commerce Bank now owns 13,265 shares of the company’s stock valued at $271,000 after buying an additional 600 shares during the period. Finally, National Asset Management Inc. raised its position in Regal Entertainment Group by 9.4% during the second quarter. National Asset Management Inc. now owns 9,939 shares of the company’s stock valued at $204,000 after buying an additional 852 shares during the period. 85.33% of the stock is currently owned by institutional investors.
Regal Entertainment Group (NYSE RGC) opened at $20.50 on Friday. The company has a debt-to-equity ratio of -2.84, a current ratio of 0.84 and a quick ratio of 0.78. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $23.56. The company has a market capitalization of $3,218.81, a PE ratio of 23.30, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13.
Regal Entertainment Group (NYSE:RGC) last issued its earnings results on Tuesday, October 24th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The firm had revenue of $716.00 million for the quarter, compared to the consensus estimate of $701.66 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. equities research analysts forecast that Regal Entertainment Group will post 0.95 EPS for the current fiscal year.
Regal Entertainment Group declared that its Board of Directors has approved a share repurchase plan on Thursday, August 31st that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be paid a $0.22 dividend. The ex-dividend date is Friday, December 1st. This represents a $0.88 dividend on an annualized basis and a yield of 4.29%. Regal Entertainment Group’s dividend payout ratio (DPR) is currently 101.15%.
Several research analysts recently weighed in on RGC shares. Royal Bank Of Canada upped their price target on Regal Entertainment Group to $23.00 in a research report on Wednesday. Benchmark dropped their price target on 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. MKM Partners reissued a “buy” rating and set a $20.00 price target on shares of Regal Entertainment Group in a research report on Monday, September 18th. B. Riley reissued a “buy” rating and set a $24.75 price target (up from $24.00) on shares of Regal Entertainment Group in a research report on Wednesday, October 25th. Finally, Loop Capital dropped their price target on 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 issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $21.48.
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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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