Regal Entertainment Group (NYSE:RGC) was downgraded by stock analysts at Hilliard Lyons from a “long-term buy” rating to a “neutral” rating in a research note issued on Wednesday.
A number of other research analysts have also weighed in on RGC. BidaskClub lowered Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. MKM Partners raised Regal Entertainment Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $22.00 in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Benchmark reduced 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. Credit Suisse Group reduced their target price on Regal Entertainment Group from $17.00 to $13.00 and set an “underperform” rating for the company in a report on Thursday, September 28th. Finally, Morgan Stanley raised Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 target price for the company in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.73.
Regal Entertainment Group (NYSE RGC) traded up $1.95 on Wednesday, hitting $22.68. The stock had a trading volume of 74,166,500 shares, compared to its average volume of 3,201,692. The stock has a market cap of $3,254.92, a PE ratio of 23.56, a PEG ratio of 2.18 and a beta of 1.14. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of -2.84. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $23.56.
Regal Entertainment Group (NYSE:RGC) last released its earnings results on Tuesday, October 24th. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.03. The company had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $701.66 million. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. sell-side analysts predict that Regal Entertainment Group will post 0.95 EPS for the current fiscal year.
Regal Entertainment Group declared that its Board of Directors has approved a stock 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 purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Several institutional investors have recently made changes to their positions in RGC. The Manufacturers Life Insurance Company lifted its position in shares of Regal Entertainment Group by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock valued at $100,000 after acquiring an additional 373 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Regal Entertainment Group by 164.3% in the second quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock valued at $111,000 after acquiring an additional 3,369 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Regal Entertainment Group by 169.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,519 shares of the company’s stock valued at $113,000 after acquiring an additional 3,471 shares in the last quarter. Tortoise Investment Management LLC purchased a new position in shares of Regal Entertainment Group in the third quarter valued at about $117,000. Finally, Farmers National Bank lifted its position in shares of Regal Entertainment Group by 901.2% in the second quarter. Farmers National Bank now owns 81,096 shares of the company’s stock valued at $135,000 after acquiring an additional 72,996 shares in the last quarter. Institutional investors and hedge funds own 85.33% 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.
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