Regal Entertainment Group (RGC) Cut to Neutral at Macquarie
Regal Entertainment Group (NYSE:RGC) was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating in a report issued on Wednesday.
Other analysts also recently issued reports about the company. Loop Capital downgraded Regal Entertainment Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Barrington Research lowered Regal Entertainment Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Wedbush lowered Regal Entertainment Group from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research report on Tuesday. B. Riley reaffirmed a “buy” rating and set a $24.75 price target on shares of Regal Entertainment Group in a research report on Wednesday, November 29th. Finally, Royal Bank Of Canada lifted their target price on Regal Entertainment Group to $23.00 in a research note on Wednesday, November 29th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Regal Entertainment Group presently has an average rating of “Hold” and an average price target of $21.73.
Shares of Regal Entertainment Group (NYSE RGC) opened at $22.68 on Wednesday. The company has a market capitalization of $3,254.92, a P/E ratio of 23.56, a P/E/G ratio of 2.18 and a beta of 1.14. Regal Entertainment Group has a 52-week low of $13.90 and a 52-week high of $23.56. The company has a debt-to-equity ratio of -2.84, a current ratio of 0.84 and a quick ratio of 0.78.
Regal Entertainment Group (NYSE:RGC) last released its quarterly earnings data on Tuesday, October 24th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $701.66 million. During the same quarter in the prior year, the firm posted $0.29 EPS. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. equities analysts expect that Regal Entertainment Group will post 0.95 EPS for the current year.
Regal Entertainment Group announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 31st that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in RGC. Vanguard Group Inc. increased its position in Regal Entertainment Group by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 13,209,774 shares of the company’s stock valued at $270,273,000 after acquiring an additional 380,951 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Regal Entertainment Group by 11.6% in the second quarter. Alliancebernstein L.P. now owns 10,092,993 shares of the company’s stock valued at $206,503,000 after purchasing an additional 1,048,051 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Regal Entertainment Group by 1.4% in the second quarter. Epoch Investment Partners Inc. now owns 7,261,026 shares of the company’s stock valued at $148,561,000 after purchasing an additional 103,100 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Regal Entertainment Group by 20.9% in the third quarter. Neuberger Berman Group LLC now owns 5,966,512 shares of the company’s stock valued at $95,464,000 after purchasing an additional 1,032,378 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Regal Entertainment Group by 18.3% in the third quarter. Eagle Asset Management Inc. now owns 5,557,432 shares of the company’s stock valued at $89,919,000 after purchasing an additional 857,787 shares in the last quarter. Hedge funds and other institutional investors own 85.33% of the company’s stock.
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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.
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