Regal Entertainment Group (NYSE:RGC)‘s stock had its “buy” rating reissued by analysts at Wedbush in a research note issued on Thursday. They presently have a $19.00 price objective on the stock. Wedbush’s price objective would suggest a potential upside of 18.09% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. MKM Partners reiterated a “buy” rating and issued a $20.00 price target on shares of Regal Entertainment Group in a report on Monday, September 18th. B. Riley reiterated a “buy” rating and issued a $26.00 price target on shares of Regal Entertainment Group in a report on Tuesday, July 18th. Benchmark Co. cut their price target on shares of Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, September 26th. Morgan Stanley upgraded shares of Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price target on the stock in a report on Thursday, October 5th. Finally, Piper Jaffray Companies set a $19.00 price target on shares of Regal Entertainment Group and gave the stock a “hold” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $22.92.

Regal Entertainment Group (NYSE RGC) opened at 16.09 on Thursday. Regal Entertainment Group has a 12-month low of $13.90 and a 12-month high of $24.79. The company has a 50 day moving average of $16.00 and a 200-day moving average of $18.95. The stock has a market cap of $2.52 billion, a P/E ratio of 14.94 and a beta of 0.97.

Regal Entertainment Group (NYSE:RGC) last issued its quarterly 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). Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The business had revenue of $764.20 million during the quarter, compared to analyst estimates of $764.15 million. During the same quarter last year, the company posted $0.23 EPS. Regal Entertainment Group’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts forecast that Regal Entertainment Group will post $0.97 earnings per share for the current year.

Regal Entertainment Group announced that its Board of Directors has approved a share repurchase program on Thursday, August 31st that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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In other news, CFO David Ownby acquired 7,500 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were acquired at an average price of $14.04 per share, with a total value of $105,300.00. Following the purchase, the chief financial officer now directly owns 229,573 shares of the company’s stock, valued at $3,223,204.92. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas D. Bell, Jr. acquired 25,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average cost of $14.76 per share, for a total transaction of $369,000.00. Following the purchase, the director now directly owns 126,939 shares in the company, valued at $1,873,619.64. The disclosure for this purchase can be found here. Insiders have bought a total of 242,500 shares of company stock worth $641,000 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Regal Entertainment Group by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 13,209,774 shares of the company’s stock valued at $270,273,000 after buying an additional 380,951 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Regal Entertainment Group by 11.6% during the 2nd quarter. Alliancebernstein L.P. now owns 10,092,993 shares of the company’s stock valued at $206,503,000 after buying an additional 1,048,051 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in shares of Regal Entertainment Group by 1.4% during the 2nd quarter. Epoch Investment Partners Inc. now owns 7,261,026 shares of the company’s stock valued at $148,561,000 after buying an additional 103,100 shares in the last quarter. BlackRock Inc. lifted its position in shares of Regal Entertainment Group by 20.7% during the 2nd quarter. BlackRock Inc. now owns 4,659,346 shares of the company’s stock valued at $95,330,000 after buying an additional 797,847 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Regal Entertainment Group by 25.2% during the 2nd quarter. Voya Investment Management LLC now owns 4,322,636 shares of the company’s stock valued at $88,441,000 after buying an additional 870,550 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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.

Analyst Recommendations for Regal Entertainment Group (NYSE:RGC)

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