Equities Analysts Offer Predictions for Regal Entertainment Group’s FY2017 Earnings (RGC)

Regal Entertainment Group (NYSE:RGC) – Wedbush raised their FY2017 earnings per share (EPS) estimates for Regal Entertainment Group in a research note issued to investors on Wednesday. Wedbush analyst M. Pachter now anticipates that the company will post earnings per share of $0.91 for the year, up from their prior forecast of $0.89. Wedbush has a “Buy” rating and a $20.00 price objective on the stock. Wedbush also issued estimates for Regal Entertainment Group’s Q1 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.32 EPS and FY2018 earnings at $1.05 EPS.

RGC has been the subject of a number of other research reports. Morgan Stanley cut their price target on Regal Entertainment Group from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, July 6th. Zacks Investment Research raised shares of Regal Entertainment Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. B. Riley set a $24.00 price objective on shares of Regal Entertainment Group and gave the company a “buy” rating in a report on Wednesday, October 18th. Benchmark Co. dropped their price objective on shares of Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, September 26th. Finally, Loop Capital dropped their price objective on shares of Regal Entertainment Group from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, October 23rd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $22.90.

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Shares of Regal Entertainment Group (NYSE:RGC) opened at 16.61 on Friday. The company’s 50-day moving average price is $16.20 and its 200 day moving average price is $18.70. Regal Entertainment Group has a 1-year low of $13.90 and a 1-year high of $24.79. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 15.42 and a beta of 0.97.

Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The company had revenue of $716.00 million during the quarter, compared to analyst estimates of $701.66 million. Regal Entertainment Group had a negative return on equity of 16.46% and a net margin of 4.41%. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share.

Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in shares of Regal Entertainment Group by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock worth $100,000 after acquiring an additional 373 shares during the period. IFP Advisors Inc increased its position in shares of Regal Entertainment Group by 164.3% during the second quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock worth $111,000 after acquiring an additional 3,369 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in shares of Regal Entertainment Group by 169.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,519 shares of the company’s stock worth $113,000 after acquiring an additional 3,471 shares during the period. Farmers National Bank increased its position in shares of Regal Entertainment Group by 901.2% during the second quarter. Farmers National Bank now owns 81,096 shares of the company’s stock worth $135,000 after acquiring an additional 72,996 shares during the period. Finally, Ffcm LLC increased its position in shares of Regal Entertainment Group by 123.4% during the second quarter. Ffcm LLC now owns 8,109 shares of the company’s stock worth $165,000 after acquiring an additional 4,480 shares during the period. 81.94% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Stephen A. Kaplan bought 10,000 shares of Regal Entertainment Group stock in a transaction dated Friday, August 25th. The shares were acquired at an average cost of $14.87 per share, with a total value of $148,700.00. Following the completion of the transaction, the director now owns 155,572 shares in the company, valued at approximately $2,313,355.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Ownby bought 7,500 shares of Regal Entertainment Group stock in a transaction dated Thursday, August 24th. The shares were bought at an average cost of $14.04 per share, for a total transaction of $105,300.00. Following the completion of the transaction, the chief financial officer now owns 229,573 shares of the company’s stock, valued at approximately $3,223,204.92. The disclosure for this purchase can be found here. In the last three months, insiders acquired 242,500 shares of company stock valued at $641,000. 2.00% of the stock is owned by insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend is Friday, December 1st. Regal Entertainment Group’s payout ratio is currently 101.15%.

Regal Entertainment Group declared that its Board of Directors has approved a share buyback program on Thursday, August 31st that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Regal Entertainment Group Company Profile

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.

Earnings History and Estimates for Regal Entertainment Group (NYSE:RGC)

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