Royal Bank Of Canada Downgrades Regal Entertainment Group (RGC) to Sector Perform
Regal Entertainment Group (NYSE:RGC) was downgraded by analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Wednesday.
Other equities research analysts also recently issued reports about the company. Loop Capital downgraded Regal Entertainment Group from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a research note on Wednesday. Wedbush downgraded Regal Entertainment Group from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a research note on Tuesday. Macquarie downgraded Regal Entertainment Group from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a research note on Wednesday. BidaskClub downgraded Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Finally, Morgan Stanley raised Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price target for the company in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.83.
Shares of Regal Entertainment Group (NYSE RGC) traded up $0.12 during trading on Wednesday, reaching $22.70. The company had a trading volume of 9,961,200 shares, compared to its average volume of 3,285,161. The stock has a market cap of $3,560.00, a P/E ratio of 25.66, a P/E/G ratio of 2.41 and a beta of 1.14. The company has a debt-to-equity ratio of -2.84, a quick ratio of 0.78 and a current ratio of 0.84. Regal Entertainment Group has a 1 year low of $13.90 and a 1 year high of $23.56.
Regal Entertainment Group (NYSE:RGC) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $701.66 million. During the same period in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. research analysts forecast that Regal Entertainment Group will post 0.94 earnings per share for the current year.
Regal Entertainment Group announced that its board has initiated a share buyback plan on Thursday, August 31st that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in Regal Entertainment Group by 8.3% in the 2nd 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 grew its holdings in Regal Entertainment Group by 164.3% in the 2nd 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. grew its holdings in Regal Entertainment Group by 169.5% in the 2nd 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 acquired a new stake in Regal Entertainment Group in the 3rd quarter valued at approximately $117,000. Finally, Ffcm LLC grew its holdings in Regal Entertainment Group by 123.4% in the 2nd quarter. Ffcm LLC now owns 8,109 shares of the company’s stock valued at $165,000 after buying an additional 4,480 shares during the last quarter. 85.33% of the stock is currently owned by hedge funds and other institutional investors.
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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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