Regal Entertainment Group (RGC) to Issue Quarterly Dividend of $0.22 on December 15th
Regal Entertainment Group (NYSE:RGC) announced a quarterly dividend on Wednesday, October 25th, Wall Street Journal reports. Stockholders of record on Monday, December 4th will be given a dividend of 0.22 per share on Friday, December 15th. This represents a $0.88 annualized dividend and a dividend yield of 5.07%. The ex-dividend date is Friday, December 1st.
Regal Entertainment Group has increased its dividend by an average of 1.6% annually over the last three years. Regal Entertainment Group has a dividend payout ratio of 92.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Regal Entertainment Group to earn $1.06 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 83.0%.
Regal Entertainment Group (NYSE:RGC) opened at $17.37 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. The company has a market capitalization of $2,727.35, a price-to-earnings ratio of 19.74, a P/E/G ratio of 1.83 and a beta of 1.05. Regal Entertainment Group has a 12 month low of $13.90 and a 12 month high of $23.88.
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. The business had revenue of $716.00 million during the quarter, compared to analyst estimates of $701.66 million. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. Regal Entertainment Group’s revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. research analysts predict that Regal Entertainment Group will post 0.95 EPS for the current fiscal year.
In related news, Director Thomas D. Bell, Jr. acquired 25,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average cost of $14.76 per share, for a total transaction of $369,000.00. Following the completion of the purchase, the director now directly owns 126,939 shares of the company’s stock, valued at approximately $1,873,619.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.
A hedge fund recently raised its stake in Regal Entertainment Group stock. The Manufacturers Life Insurance Company boosted its stake in shares of Regal Entertainment Group (NYSE:RGC) by 8.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,871 shares of the company’s stock after acquiring an additional 373 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Regal Entertainment Group were worth $100,000 as of its most recent SEC filing. 81.65% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently commented on RGC shares. B. Riley restated a “buy” rating and issued a $24.75 target price (up from $24.00) on shares of Regal Entertainment Group in a research note on Wednesday, October 25th. MKM Partners upgraded Regal Entertainment Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $20.00 to $22.00 in a research note on Tuesday, September 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded Regal Entertainment Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Wedbush set a $20.00 target price on Regal Entertainment Group and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, Loop Capital cut their target price on Regal Entertainment Group from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 23rd. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $20.90.
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 shares. This repurchase authorization permits the company to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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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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