Regal Entertainment Group (RGC) Forecasted to Earn FY2017 Earnings of $0.89 Per Share

Regal Entertainment Group (NYSE:RGC) – Investment analysts at Wedbush dropped their FY2017 earnings estimates for shares of Regal Entertainment Group in a report released on Monday. Wedbush analyst M. Pachter now expects that the company will earn $0.89 per share for the year, down from their prior forecast of $1.01. Wedbush has a “Outperform” rating and a $23.00 price objective on the stock. Wedbush also issued estimates for Regal Entertainment Group’s Q4 2017 earnings at $0.36 EPS and Q3 2018 earnings at $0.18 EPS.

RGC has been the topic of a number of other reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $22.00 price target on shares of Regal Entertainment Group in a research report on Thursday, July 27th. B. Riley reaffirmed a “buy” rating and set a $26.00 price target on shares of Regal Entertainment Group in a research report on Tuesday, August 1st. Morgan Stanley raised shares of Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price target on the stock in a research report on Thursday, October 5th. Credit Suisse Group lowered their price target on shares of Regal Entertainment Group from $17.00 to $13.00 and set an “underperform” rating on the stock in a research report on Thursday, September 28th. Finally, Benchmark Co. lowered their price target on shares of Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $23.38.

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Shares of Regal Entertainment Group (NYSE RGC) opened at 16.00 on Wednesday. Regal Entertainment Group has a 12 month low of $13.90 and a 12 month high of $24.79. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 14.86 and a beta of 0.97. The stock’s 50 day moving average is $15.73 and its 200 day moving average is $19.20.

Regal Entertainment Group (NYSE:RGC) last issued its earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share 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 business had revenue of $764.20 million for the quarter, compared to analyst estimates of $764.15 million. During the same quarter last year, the firm posted $0.23 earnings per share. Regal Entertainment Group’s revenue was down 2.8% on a year-over-year basis.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Frontier Investment Mgmt Co. boosted its stake in shares of Regal Entertainment Group by 7.2% in the 2nd quarter. Frontier Investment Mgmt Co. now owns 349,919 shares of the company’s stock valued at $7,159,000 after purchasing an additional 23,633 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Regal Entertainment Group by 24.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 434,500 shares of the company’s stock valued at $8,890,000 after purchasing an additional 85,200 shares in the last quarter. Farmers National Bank boosted its stake in shares of Regal Entertainment Group by 901.2% in the 2nd quarter. Farmers National Bank now owns 81,096 shares of the company’s stock valued at $135,000 after purchasing an additional 72,996 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Regal Entertainment Group by 79.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 58,353 shares of the company’s stock valued at $1,194,000 after purchasing an additional 25,861 shares in the last quarter. Finally, 1st Global Advisors Inc. acquired a new stake in shares of Regal Entertainment Group in the 2nd quarter valued at approximately $229,000. Institutional investors own 82.41% of the company’s stock.

In related news, Director Thomas D. Bell, Jr. purchased 25,000 shares of Regal Entertainment Group stock in a transaction dated Tuesday, August 29th. The shares were bought at an average cost of $14.76 per share, for a total transaction of $369,000.00. Following the purchase, the director now owns 126,939 shares in the company, valued at approximately $1,873,619.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen A. Kaplan purchased 10,000 shares of Regal Entertainment Group stock in a transaction dated Friday, August 25th. The stock was bought at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the completion of the purchase, the director now owns 155,572 shares in the company, valued at approximately $2,313,355.64. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 242,500 shares of company stock worth $641,000. 2.00% of the stock is currently owned by corporate insiders.

Regal Entertainment Group announced that its board has authorized a share repurchase plan on Thursday, August 31st that authorizes the company to repurchase $50.00 million in outstanding 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 management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were paid a $0.22 dividend. The ex-dividend date was Thursday, August 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.50%. Regal Entertainment Group’s payout ratio is currently 82.24%.

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.

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

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