Regal Entertainment Group (RGC) Rating Lowered to Sell at Zacks Investment Research

Regal Entertainment Group (NYSE:RGC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, June 29th.

According to Zacks, “Regal Entertainment Group is a leading motion picture exhibitor operating the largest theatre circuit in the United States. The Company’s nationwide theatre circuit is comprised of Regal Cinemas Corporation, United Artists Theatre Company and Edwards Theatres, Inc. “

Several other research firms also recently weighed in on RGC. FBR & Co boosted their target price on shares of Regal Entertainment Group from $23.00 to $25.00 and gave the stock a “mkt perform” rating in a research report on Thursday, April 27th. Royal Bank Of Canada reissued a “hold” rating on shares of Regal Entertainment Group in a research report on Thursday, April 27th. MKM Partners reissued a “neutral” rating and set a $24.00 target price (up previously from $23.00) on shares of Regal Entertainment Group in a research report on Wednesday, April 26th. Wunderlich reissued a “buy” rating and set a $31.00 target price on shares of Regal Entertainment Group in a research report on Monday, March 20th. Finally, Wedbush reissued a “buy” rating and set a $26.00 target price on shares of Regal Entertainment Group in a research report on Friday, April 21st. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Regal Entertainment Group presently has a consensus rating of “Hold” and an average target price of $24.57.

Shares of Regal Entertainment Group (NYSE:RGC) traded up 0.05% during midday trading on Thursday, reaching $19.26. 1,941,312 shares of the company traded hands. The company has a 50 day moving average price of $20.06 and a 200 day moving average price of $21.34. Regal Entertainment Group has a 1-year low of $18.64 and a 1-year high of $24.79. The company has a market capitalization of $3.02 billion, a PE ratio of 17.87 and a beta of 0.93.

Regal Entertainment Group (NYSE:RGC) last released 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. The company had revenue of $764.20 million for the quarter, compared to analysts’ expectations of $764.15 million. Regal Entertainment Group had a negative return on equity of 20.38% and a net margin of 5.24%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. On average, analysts expect that Regal Entertainment Group will post $1.08 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System purchased a new stake in shares of Regal Entertainment Group during the fourth quarter worth about $148,000. Parallel Advisors LLC boosted its position in Regal Entertainment Group by 2.1% in the first quarter. Parallel Advisors LLC now owns 7,045 shares of the company’s stock worth $153,000 after buying an additional 145 shares in the last quarter. Credit Agricole S A bought a new position in Regal Entertainment Group during the fourth quarter worth $165,000. Farmers National Bank boosted its position in Regal Entertainment Group by 6.6% in the first quarter. Farmers National Bank now owns 8,100 shares of the company’s stock worth $176,000 after buying an additional 500 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new position in Regal Entertainment Group during the first quarter worth $200,000. 76.24% of the stock is currently owned by hedge funds and other institutional investors.

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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