Regal Entertainment Group (RGC) Stock Rating Lowered by Wedbush
Regal Entertainment Group (NYSE:RGC) was downgraded by research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a report released on Tuesday. They currently have a $23.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 1.86% from the company’s current price.
Other research analysts also recently issued reports about the company. Royal Bank Of Canada raised Regal Entertainment Group from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $19.00 to $20.00 in a report on Thursday, October 26th. They noted that the move was a valuation call. BidaskClub cut Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. B. Riley restated a “buy” rating and issued a $24.75 price objective (up from $24.00) on shares of Regal Entertainment Group in a research report on Wednesday, October 25th. Morgan Stanley upgraded Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price objective for the company in a research report on Thursday, October 5th. Finally, Credit Suisse Group cut their price objective on Regal Entertainment Group from $17.00 to $13.00 and set an “underperform” rating for the company in a research report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. Regal Entertainment Group has an average rating of “Hold” and an average price target of $21.73.
Regal Entertainment Group (NYSE RGC) opened at $22.58 on Tuesday. Regal Entertainment Group has a twelve month low of $13.90 and a twelve month high of $23.56. The stock has a market capitalization of $3,561.10, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 2.38 and a beta of 1.14. 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 announced its quarterly earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $716.00 million during the quarter, compared to the consensus estimate of $701.66 million. During the same period in the previous year, the company posted $0.29 earnings per share. Regal Entertainment Group’s revenue for the quarter was down 11.8% on a year-over-year basis. equities research analysts predict that Regal Entertainment Group will post 0.95 EPS for the current fiscal year.
Regal Entertainment Group announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 31st that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
A number of large investors have recently modified their holdings of RGC. The Manufacturers Life Insurance Company lifted its stake in shares of Regal Entertainment Group by 8.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock valued at $100,000 after purchasing an additional 373 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Regal Entertainment Group by 164.3% in the 2nd quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock valued at $111,000 after purchasing an additional 3,369 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Regal Entertainment Group by 169.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,519 shares of the company’s stock valued at $113,000 after purchasing an additional 3,471 shares during the last quarter. Tortoise Investment Management LLC acquired a new position in Regal Entertainment Group during the 3rd quarter worth about $117,000. Finally, Farmers National Bank lifted its stake in Regal Entertainment Group by 901.2% during the 2nd quarter. Farmers National Bank now owns 81,096 shares of the company’s stock worth $135,000 after acquiring an additional 72,996 shares in the last quarter. Institutional investors own 85.33% of the company’s stock.
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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.
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