Regal Entertainment Group (NYSE:RGC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Regal Entertainment Group is a leading motion picture exhibitor operating the largest theatre circuit in the United States. The Company’s nationwide theatre circuit is comprised of Regal Cinemas Corporation, United Artists Theatre Company and Edwards Theatres, Inc. “
Other research analysts have also recently issued research reports about the stock. B. Riley restated a “buy” rating and issued a $26.00 target price on shares of Regal Entertainment Group in a report on Tuesday, August 1st. Royal Bank Of Canada restated a “hold” rating and issued a $22.00 target price on shares of Regal Entertainment Group in a report on Thursday, July 27th. BidaskClub cut shares of Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Credit Suisse Group lowered 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 report on Thursday, September 28th. Finally, Morgan Stanley upgraded 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 report on Thursday, October 5th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.38.
Shares of Regal Entertainment Group (NYSE:RGC) opened at 16.01 on Tuesday. The stock has a market cap of $2.50 billion, a PE ratio of 14.87 and a beta of 0.97. The company’s 50-day moving average is $15.76 and its 200-day moving average is $19.18. 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 issued 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). Regal Entertainment Group had a net margin of 5.24% and a negative return on equity of 20.42%. The company had revenue of $764.20 million during the quarter, compared to analyst estimates of $764.15 million. During the same quarter in the previous year, the company posted $0.23 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. Equities analysts anticipate that Regal Entertainment Group will post $0.97 EPS for the current year.
Regal Entertainment Group announced that its board has approved a stock repurchase plan on Thursday, August 31st that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Regal Entertainment Group news, Director Thomas D. Bell, Jr. purchased 25,000 shares of Regal Entertainment Group stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the transaction, the director now directly owns 126,939 shares in the company, valued at $1,873,619.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Ownby purchased 7,500 shares of Regal Entertainment Group stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average price of $14.04 per share, with a total value of $105,300.00. Following the transaction, the chief financial officer now owns 229,573 shares in the company, valued at $3,223,204.92. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 242,500 shares of company stock valued at $641,000. 2.00% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Camelot Portfolios LLC raised its position in Regal Entertainment Group by 1.0% during the 2nd quarter. Camelot Portfolios LLC now owns 20,941 shares of the company’s stock worth $428,000 after buying an additional 205 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Regal Entertainment Group by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock worth $100,000 after buying an additional 373 shares during the last quarter. MML Investors Services LLC raised its position in Regal Entertainment Group by 3.4% during the 2nd quarter. MML Investors Services LLC now owns 11,529 shares of the company’s stock worth $236,000 after buying an additional 381 shares during the last quarter. Farmers National Bank raised its position in Regal Entertainment Group by 6.6% during the 1st quarter. Farmers National Bank now owns 8,100 shares of the company’s stock worth $176,000 after buying an additional 500 shares during the last quarter. Finally, Lee Financial Co raised its position in Regal Entertainment Group by 1.0% during the 2nd quarter. Lee Financial Co now owns 58,328 shares of the company’s stock worth $1,193,000 after buying an additional 591 shares during the last quarter. 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.
Receive News & Ratings for Regal Entertainment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Entertainment Group and related companies with MarketBeat.com's FREE daily email newsletter.