Regal Entertainment Group (RGC) Cut to “Market Perform” at Barrington Research

Barrington Research lowered shares of Regal Entertainment Group (NYSE:RGC) from an outperform rating to a market perform rating in a research report report published on Tuesday.

Several other analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Regal Entertainment Group from a sell rating to a hold rating in a report on Wednesday, November 8th. B. Riley reiterated a buy rating and issued a $24.75 target price (up previously from $24.00) on shares of Regal Entertainment Group in a report on Wednesday, October 25th. MKM Partners upgraded shares of Regal Entertainment Group from a neutral rating to a buy rating and increased their target price for the company from $20.00 to $22.00 in a report on Tuesday, September 5th. They noted that the move was a valuation call. Wedbush set a $20.00 price target on shares of Regal Entertainment Group and gave the company a buy rating in a research report on Wednesday, October 25th. Finally, Loop Capital reduced their price target on shares of Regal Entertainment Group from $25.00 to $24.00 and set a buy rating for the company in a research report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $21.83.

Shares of Regal Entertainment Group (NYSE:RGC) traded up $0.12 during mid-day trading on Tuesday, hitting $22.70. 9,961,200 shares of the stock traded hands, compared to its average volume of 3,285,161. The stock has a market capitalization of $3,560.00, a P/E ratio of 25.66, a P/E/G ratio of 2.41 and a beta of 1.14. The company has a debt-to-equity ratio of -2.84, a quick ratio of 0.78 and a current ratio of 0.84. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $23.56.

Regal Entertainment Group (NYSE:RGC) last announced its earnings results on Tuesday, October 24th. The company reported $0.07 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 the consensus estimate of $701.66 million. Regal Entertainment Group had a net margin of 4.41% and a negative return on equity of 16.36%. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 earnings per share. equities research analysts predict that Regal Entertainment Group will post 0.94 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.88 annualized dividend and a yield of 3.88%. Regal Entertainment Group’s payout ratio is currently 106.02%.

Regal Entertainment Group declared that its board has authorized a stock buyback plan on Thursday, August 31st that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its position in 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 valued at $100,000 after buying an additional 373 shares during the period. MML Investors Services LLC boosted its position in Regal Entertainment Group by 3.4% during the second quarter. MML Investors Services LLC now owns 11,529 shares of the company’s stock worth $236,000 after purchasing an additional 381 shares during the period. Commerce Bank boosted its position in Regal Entertainment Group by 4.7% during the second quarter. Commerce Bank now owns 13,265 shares of the company’s stock worth $271,000 after purchasing an additional 600 shares during the period. National Asset Management Inc. boosted its position in Regal Entertainment Group by 9.4% during the second quarter. National Asset Management Inc. now owns 9,939 shares of the company’s stock worth $204,000 after purchasing an additional 852 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its position in Regal Entertainment Group by 4.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 24,666 shares of the company’s stock worth $505,000 after purchasing an additional 983 shares during the period. 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.

Analyst Recommendations for Regal Entertainment Group (NYSE:RGC)

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