Regal Entertainment Group (RGC) Rating Lowered to Market Perform at Barrington Research

Regal Entertainment Group (NYSE:RGC) was downgraded by equities researchers at Barrington Research from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday.

Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada raised shares of Regal Entertainment Group from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $19.00 to $20.00 in a research note on Thursday, October 26th. They noted that the move was a valuation call. Wedbush cut shares of Regal Entertainment Group from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a research note on Tuesday. BidaskClub cut shares of Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Morgan Stanley raised shares of Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 target price for the company in a research note on Thursday, October 5th. Finally, Credit Suisse Group decreased their target price on shares of Regal Entertainment Group from $17.00 to $13.00 and set an “underperform” rating for the company in a research note on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $21.73.

Shares of Regal Entertainment Group (RGC) opened at $22.58 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of -2.84. Regal Entertainment Group has a fifty-two week low of $13.90 and a fifty-two week high of $23.56. The stock has a market cap of $3,254.92, a P/E ratio of 23.56, a PEG ratio of 2.18 and a beta of 1.14.

Regal Entertainment Group (NYSE:RGC) last released its earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. Regal Entertainment Group had a net margin of 4.41% and a negative return on equity of 16.36%. The business had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $701.66 million. During the same period last year, the business earned $0.29 earnings per share. The firm’s revenue was down 11.8% on a year-over-year basis. 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 has approved a share buyback program on Thursday, August 31st that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Regal Entertainment Group by 3.0% during the second quarter. Vanguard Group Inc. now owns 13,209,774 shares of the company’s stock worth $270,273,000 after purchasing an additional 380,951 shares during the period. Alliancebernstein L.P. boosted its position in Regal Entertainment Group by 11.6% during the second quarter. Alliancebernstein L.P. now owns 10,092,993 shares of the company’s stock worth $206,503,000 after purchasing an additional 1,048,051 shares during the period. Epoch Investment Partners Inc. boosted its position in Regal Entertainment Group by 1.4% during the second quarter. Epoch Investment Partners Inc. now owns 7,261,026 shares of the company’s stock worth $148,561,000 after purchasing an additional 103,100 shares during the period. Neuberger Berman Group LLC boosted its position in Regal Entertainment Group by 20.9% during the third quarter. Neuberger Berman Group LLC now owns 5,966,512 shares of the company’s stock worth $95,464,000 after purchasing an additional 1,032,378 shares during the period. Finally, Eagle Asset Management Inc. boosted its position in Regal Entertainment Group by 18.3% during the third quarter. Eagle Asset Management Inc. now owns 5,557,432 shares of the company’s stock worth $89,919,000 after purchasing an additional 857,787 shares during the period. 85.33% of the stock is owned by hedge funds and other institutional investors.

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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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