Royal Bank Of Canada Reiterates Hold Rating for Regal Entertainment Group (NYSE:RGC)
Royal Bank Of Canada reiterated their hold rating on shares of Regal Entertainment Group (NYSE:RGC) in a research report released on Thursday morning. Royal Bank Of Canada currently has a $22.00 price objective on the stock.
Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Regal Entertainment Group from a hold rating to a buy rating and set a $25.00 target price on the stock in a report on Thursday, April 20th. B. Riley restated a buy rating and set a $28.75 target price on shares of Regal Entertainment Group in a report on Wednesday, April 19th. Loop Capital upgraded Regal Entertainment Group from a hold rating to a buy rating and boosted their target price for the stock from $23.00 to $25.00 in a report on Tuesday, May 16th. Wedbush restated a buy rating and set a $26.00 target price on shares of Regal Entertainment Group in a report on Thursday, April 27th. Finally, Hilliard Lyons upgraded Regal Entertainment Group to a buy rating in a report on Thursday, May 18th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Regal Entertainment Group has a consensus rating of Hold and a consensus target price of $24.57.
Shares of Regal Entertainment Group (RGC) opened at 19.26 on Thursday. The stock has a 50 day moving average price of $20.06 and a 200 day moving average price of $21.34. Regal Entertainment Group has a 1-year low of $18.64 and a 1-year high of $24.79. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 17.87 and a beta of 0.93.
Regal Entertainment Group (NYSE:RGC) last issued its earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The company 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 20.38% and a net margin of 5.24%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. On average, equities analysts anticipate that Regal Entertainment Group will post $1.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Thursday, August 31st. Regal Entertainment Group’s payout ratio is 82.24%.
Hedge funds have recently made changes to their positions in the stock. Round Table Services LLC purchased a new stake in shares of Regal Entertainment Group during the first quarter worth about $202,000. Fox Run Management L.L.C. purchased a new stake in shares of Regal Entertainment Group during the first quarter worth about $497,000. Dynamic Advisors Solutions LLC raised its stake in shares of Regal Entertainment Group by 4.3% in the first quarter. Dynamic Advisors Solutions LLC now owns 176,065 shares of the company’s stock worth $3,976,000 after buying an additional 7,240 shares during the last quarter. GW&K Investment Management LLC raised its stake in shares of Regal Entertainment Group by 4.5% in the first quarter. GW&K Investment Management LLC now owns 1,638,208 shares of the company’s stock worth $36,991,000 after buying an additional 69,856 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new stake in shares of Regal Entertainment Group during the first quarter worth about $7,900,000. 76.24% of the stock is currently owned by institutional investors.
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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