BidaskClub Lowers Regal Entertainment Group (RGC) to Strong Sell

BidaskClub downgraded shares of Regal Entertainment Group (NYSE:RGC) from a sell rating to a strong sell rating in a research report released on Thursday morning.

Several other research firms also recently issued reports on RGC. Royal Bank Of Canada increased their target price on Regal Entertainment Group from $23.00 to $25.00 and gave the stock a sector perform rating in a research report on Thursday, April 27th. FBR & Co upped their price target on shares of Regal Entertainment Group from $23.00 to $25.00 and gave the stock a mkt perform rating in a report on Thursday, April 27th. MKM Partners reaffirmed a neutral rating and issued a $24.00 price target (up previously from $23.00) on shares of Regal Entertainment Group in a report on Wednesday, April 26th. Wedbush reaffirmed a buy rating and issued a $26.00 price target on shares of Regal Entertainment Group in a report on Friday, April 21st. Finally, Zacks Investment Research cut shares of Regal Entertainment Group from a buy rating to a hold rating in a report on Friday, April 21st. Five analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Regal Entertainment Group presently has an average rating of Hold and a consensus target price of $24.57.

Shares of Regal Entertainment Group (RGC) traded down 0.51% during trading on Thursday, hitting $17.41. The stock had a trading volume of 1,904,592 shares. The company’s 50 day moving average price is $19.37 and its 200 day moving average price is $21.08. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 16.17 and a beta of 0.92. Regal Entertainment Group has a 52 week low of $17.33 and a 52 week high of $24.79.

Regal Entertainment Group (NYSE:RGC) last posted its earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.02. The company had revenue of $764.20 million for the quarter, compared to analysts’ expectations of $764.15 million. Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. Analysts predict that Regal Entertainment Group will post $1.05 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be paid a $0.22 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.88 dividend on an annualized basis and a yield of 5.05%. Regal Entertainment Group’s dividend payout ratio is presently 82.24%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in Regal Entertainment Group by 164.3% in the second quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock worth $111,000 after buying an additional 3,369 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in 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 worth $113,000 after buying an additional 3,471 shares in the last quarter. Parallel Advisors LLC boosted its position in Regal Entertainment Group by 2.1% in the first quarter. Parallel Advisors LLC now owns 7,045 shares of the company’s stock worth $153,000 after buying an additional 145 shares in the last quarter. Ffcm LLC boosted its position in Regal Entertainment Group by 123.4% in the second quarter. Ffcm LLC now owns 8,109 shares of the company’s stock worth $165,000 after buying an additional 4,480 shares in the last quarter. Finally, Farmers National Bank boosted its position in Regal Entertainment Group by 6.6% in the first quarter. Farmers National Bank now owns 8,100 shares of the company’s stock worth $176,000 after buying an additional 500 shares in the last quarter. 77.16% of the stock is currently owned by institutional investors and hedge funds.

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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