Regal Entertainment Group (RGC) to Issue Quarterly Dividend of $0.22 on September 15th
Regal Entertainment Group (NYSE:RGC) declared a quarterly dividend on Thursday, July 27th, Wall Street Journal reports. Shareholders of record on Tuesday, September 5th will be given a dividend of 0.22 per share on Friday, September 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date is Thursday, August 31st.
Regal Entertainment Group has increased its dividend payment by an average of 1.6% per year over the last three years. Regal Entertainment Group has a dividend payout ratio of 85.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Regal Entertainment Group to earn $1.19 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 73.9%.
Regal Entertainment Group (RGC) opened at 14.67 on Wednesday. Regal Entertainment Group has a 12-month low of $13.90 and a 12-month high of $24.79. The firm’s 50 day moving average price is $18.05 and its 200-day moving average price is $20.56. The stock has a market cap of $2.29 billion, a P/E ratio of 13.62 and a beta of 0.92.
Regal Entertainment Group (NYSE:RGC) last released its earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.02. The business had revenue of $764.20 million for the quarter, compared to analyst estimates of $764.15 million. Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. Regal Entertainment Group’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. Equities research analysts anticipate that Regal Entertainment Group will post $1.04 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Thursday, June 22nd. Loop Capital upgraded shares of Regal Entertainment Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $23.00 to $25.00 in a report on Tuesday, May 16th. Zacks Investment Research lowered shares of Regal Entertainment Group from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. Credit Suisse Group reduced their target price on shares of Regal Entertainment Group from $19.00 to $17.00 and set an “underperform” rating on the stock in a report on Friday, June 23rd. Finally, Moffett Nathanson lowered shares of Regal Entertainment Group from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $21.00 to $17.00 in a report on Monday, June 12th. Five analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Regal Entertainment Group presently has a consensus rating of “Hold” and an average price target of $24.57.
In other news, Director Thomas D. Bell, Jr. acquired 25,000 shares of Regal Entertainment Group stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average cost of $14.76 per share, for a total transaction of $369,000.00. Following the acquisition, the director now owns 126,939 shares of the company’s stock, valued at $1,873,619.64. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO David Ownby acquired 7,500 shares of Regal Entertainment Group stock in a transaction dated Thursday, August 24th. The stock was purchased at an average price of $14.04 per share, for a total transaction of $105,300.00. Following the completion of the acquisition, the chief financial officer now directly owns 229,573 shares in the company, valued at approximately $3,223,204.92. The disclosure for this purchase can be found here. Insiders bought a total of 242,500 shares of company stock worth $641,000 over the last 90 days. Company insiders own 2.00% of the company’s stock.
An institutional investor recently raised its position in Regal Entertainment Group stock. The Manufacturers Life Insurance Company increased its position in shares of Regal Entertainment Group (NYSE:RGC) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,871 shares of the company’s stock after buying an additional 373 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Regal Entertainment Group were worth $100,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 82.41% of the company’s stock.
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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