Regal Entertainment Group (RGC) Given a $24.00 Price Target at B. Riley

Regal Entertainment Group (NYSE:RGC) has been given a $24.00 price objective by equities research analysts at B. Riley in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. B. Riley’s target price would suggest a potential upside of 49.72% from the stock’s previous close.

RGC has been the subject of several other reports. Royal Bank Of Canada reissued a “hold” rating and issued a $22.00 price objective on shares of Regal Entertainment Group in a research report on Thursday, July 27th. Morgan Stanley raised Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price objective for the company in a research report on Thursday, October 5th. Credit Suisse Group lowered their price objective on Regal Entertainment Group from $17.00 to $13.00 and set an “underperform” rating for the company in a research report on Thursday, September 28th. Benchmark Co. lowered their price objective on Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, September 26th. Finally, Zacks Investment Research raised Regal Entertainment Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $23.23.

Regal Entertainment Group (NYSE:RGC) opened at 16.03 on Wednesday. The company has a market cap of $2.51 billion, a P/E ratio of 14.88 and a beta of 0.97. The company’s 50 day moving average price is $15.92 and its 200 day moving average price is $19.07. Regal Entertainment Group has a 52-week low of $13.90 and a 52-week high of $24.79.

Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings data 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 the consensus estimate of $764.15 million. During the same period last year, the business posted $0.23 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. Equities research analysts anticipate that Regal Entertainment Group will post $0.97 EPS for the current fiscal year.

Regal Entertainment Group declared that its board has initiated a share repurchase plan on Thursday, August 31st that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 2.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: “Regal Entertainment Group (RGC) Given a $24.00 Price Target at B. Riley” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/18/regal-entertainment-group-rgc-given-a-24-00-price-target-at-b-riley.html.

In related news, Director Thomas D. Bell, Jr. purchased 25,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the purchase, the director now owns 126,939 shares of the company’s stock, valued at $1,873,619.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen A. Kaplan purchased 10,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were bought at an average price of $14.87 per share, with a total value of $148,700.00. Following the purchase, the director now directly owns 155,572 shares in the company, valued at approximately $2,313,355.64. The disclosure for this purchase can be found here. Insiders have acquired a total of 242,500 shares of company stock valued at $641,000 in the last quarter. Company insiders own 2.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in RGC. BlackRock Inc. boosted its stake in Regal Entertainment Group by 10,841.3% during the 1st quarter. BlackRock Inc. now owns 3,861,499 shares of the company’s stock valued at $87,192,000 after purchasing an additional 3,826,206 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in Regal Entertainment Group during the 2nd quarter valued at about $48,366,000. Vanguard Group Inc. boosted its stake in Regal Entertainment Group by 10.7% during the 1st quarter. Vanguard Group Inc. now owns 12,828,823 shares of the company’s stock valued at $289,675,000 after purchasing an additional 1,

RGC has been the subject of several other reports. Royal Bank Of Canada reissued a “hold” rating and issued a $22.00 price objective on shares of Regal Entertainment Group in a research report on Thursday, July 27th. Morgan Stanley raised Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price objective for the company in a research report on Thursday, October 5th. Credit Suisse Group lowered their price objective on Regal Entertainment Group from $17.00 to $13.00 and set an “underperform” rating for the company in a research report on Thursday, September 28th. Benchmark Co. lowered their price objective on Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, September 26th. Finally, Zacks Investment Research raised Regal Entertainment Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $23.23.

Regal Entertainment Group (NYSE:RGC) opened at 16.03 on Wednesday. The company has a market cap of $2.51 billion, a P/E ratio of 14.88 and a beta of 0.97. The company’s 50 day moving average price is $15.92 and its 200 day moving average price is $19.07. Regal Entertainment Group has a 52-week low of $13.90 and a 52-week high of $24.79.

Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings data 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 the consensus estimate of $764.15 million. During the same period last year, the business posted $0.23 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. Equities research analysts anticipate that Regal Entertainment Group will post $0.97 EPS for the current fiscal year.

Regal Entertainment Group declared that its board has initiated a share repurchase plan on Thursday, August 31st that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 2.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: “Regal Entertainment Group (RGC) Given a $24.00 Price Target at B. Riley” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/18/regal-entertainment-group-rgc-given-a-24-00-price-target-at-b-riley.html.

In related news, Director Thomas D. Bell, Jr. purchased 25,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the purchase, the director now owns 126,939 shares of the company’s stock, valued at $1,873,619.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen A. Kaplan purchased 10,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were bought at an average price of $14.87 per share, with a total value of $148,700.00. Following the purchase, the director now directly owns 155,572 shares in the company, valued at approximately $2,313,355.64. The disclosure for this purchase can be found here. Insiders have acquired a total of 242,500 shares of company stock valued at $641,000 in the last quarter. Company insiders own 2.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in RGC. BlackRock Inc. boosted its stake in Regal Entertainment Group by 10,841.3% during the 1st quarter. BlackRock Inc. now owns 3,861,499 shares of the company’s stock valued at $87,192,000 after purchasing an additional 3,826,206 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in Regal Entertainment Group during the 2nd quarter valued at about $48,366,000. Vanguard Group Inc. boosted its stake in Regal Entertainment Group by 10.7% during the 1st quarter. Vanguard Group Inc. now owns 12,828,823 shares of the company’s stock valued at $289,675,000 after purchasing an additional 1,241,331 shares during the last quarter. Alliancebernstein L.P. boosted its stake in 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 purchasing an additional 1,048,051 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Regal Entertainment Group during the 1st quarter valued at about $20,986,000. Institutional investors and hedge funds 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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