Regal Entertainment Group’s (RGC) “Buy” Rating Reiterated at MKM Partners

MKM Partners reiterated their buy rating on shares of Regal Entertainment Group (NYSE:RGC) in a research note released on Monday morning. MKM Partners currently has a $20.00 price objective on the stock.

RGC has been the subject of a number of other reports. Royal Bank Of Canada reissued a hold rating and issued a $22.00 price objective on shares of Regal Entertainment Group in a report on Thursday, July 27th. B. Riley reissued a buy rating and issued a $26.00 price objective on shares of Regal Entertainment Group in a report on Tuesday, August 1st. Zacks Investment Research lowered Regal Entertainment Group from a hold rating to a sell rating in a report on Thursday, June 29th. Morgan Stanley decreased their price objective on Regal Entertainment Group from $22.00 to $21.00 and set an underweight rating for the company in a report on Thursday, July 6th. Finally, Moffett Nathanson lowered Regal Entertainment Group from a neutral rating to a sell rating and decreased their price objective for the stock from $21.00 to $17.00 in a report on Monday, June 12th. Five research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Regal Entertainment Group currently has a consensus rating of Hold and a consensus target price of $24.29.

Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The business had revenue of $764.20 million during the quarter, compared to the consensus estimate of $764.15 million. During the same period last year, the company earned $0.23 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year.

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Regal Entertainment Group announced that its Board of Directors has approved a share repurchase 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 often a sign that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.54%. Regal Entertainment Group’s dividend payout ratio (DPR) is presently 82.24%.

In related news, Director Thomas D. Bell, Jr. acquired 25,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the transaction, the director now owns 126,939 shares of the company’s stock, valued at $1,873,619.64. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO David Ownby acquired 7,500 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were bought at an average price of $14.04 per share, with a total value of $105,300.00. Following the transaction, the chief financial officer now directly owns 229,573 shares in the company, valued at approximately $3,223,204.92. The disclosure for this purchase can be found here. Insiders have bought a total of 242,500 shares of company stock valued at $641,000 in the last quarter. Insiders own 2.00% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Frontier Investment Mgmt Co. lifted its position in shares of Regal Entertainment Group by 7.2% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 349,919 shares of the company’s stock valued at $7,159,000 after acquiring an additional 23,633 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Regal Entertainment Group by 24.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 434,500 shares of the company’s stock valued at $8,890,000 after acquiring an additional 85,200 shares during the last quarter. Farmers National Bank lifted its position in shares of Regal Entertainment Group by 901.2% during the 2nd quarter. Farmers National Bank now owns 81,096 shares of the company’s stock valued at $135,000 after acquiring an additional 72,996 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Regal Entertainment Group by 79.6% during 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 acquiring an additional 25,861 shares during the last quarter. Finally, 1st Global Advisors Inc. acquired a new stake in shares of Regal Entertainment Group during the 2nd quarter valued at $229,000. Institutional investors own 82.41% of the company’s stock.

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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