Economy

Regal Entertainment Group (RGC) Receives $23.38 Consensus Price Target from Analysts

09/26/2017 - Regal Entertainment Group had its "buy" rating reiterated by analysts at Benchmark. The firm experienced a fall in short interest from September 15, 2017 to September 29, 2017 of -18.07%. As of today, the company has a SMA200 (200-day simple moving average) of -19.26 Percent.

Tesla, Inc. (NASDAQ:TSLA) attracted a lower number of shares in volume with 3.29 million contracts traded on 17-Oct-17. The stock of Regal Entertainment Group (NYSE:RGC) has "Equal-Weight" rating given on Thursday, October 5 by Morgan Stanley. The company operates in the Consumer Cyclical sector with a market capitalization of 2.52 Million. Regal Entertainment Group has a 12 month low of $13.90 and a 12 month high of $24.79. The stock of Regal Entertainment Group (NYSE:RGC) has "Hold" rating given on Sunday, September 24 by RBC Capital Markets. First Manhattan Company invested in 0% or 3,000 shares. The company had revenue of $764.20 million for the quarter, compared to the consensus estimate of $764.15 million. According to today's trading volume Regal Entertainment Group is BELOW its 20-Day Avg. volume with the stock showing BELOW Abnormal volume in the past 150 days. The business's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Equities analysts anticipate that Regal Entertainment Group will post $0.96 EPS for the current fiscal year. It improved, as 44 investors sold DOW shares while 407 reduced holdings. This repurchase authorization authorizes the company to purchase up to 2.2% of its stock through open market purchases. Shares buyback programs are often an indication that the company's board believes its stock is undervalued. Also, Director Thomas D. Bell, Jr. bought 25,000 shares of the company's stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the acquisition, the director now directly owns 126,939 shares of the company's stock, valued at $1,873,619.64. Also, CFO David Ownby acquired 7,500 shares of the company's stock in a transaction on Thursday, August 24th. Ffcm LLC now owns 8,109 shares of the company's stock valued at $165,000 after buying an additional 4,480 shares during the period. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 242,500 shares of company stock valued at $641,000.

Several hedge funds have recently modified their holdings of the stock. Bokf Na reported 0.13% of its portfolio in Regal Entertainment Group (NYSE:RGC).

Versartis, Inc.is an endocrine-focused biopharmaceutical company. Alliancebernstein L.P. boosted its stake in shares of Regal Entertainment Group by 11.6% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,519 shares of the company's stock valued at $113,000 after buying an additional 3,471 shares during the period. Epoch Investment Partners Inc. lifted its holdings in Regal Entertainment Group by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 13,209,774 shares of the company's stock worth $270,273,000 after buying an additional 380,951 shares during the period. Fmr Limited Liability holds 0% of its portfolio in Regal Entertainment Group (NYSE:RGC) for 53,000 shares. LLC now owns 434,500 shares of the company's stock worth $8,890,000 after buying an additional 85,200 shares in the last quarter.

Regal Entertainment Group announced that its Board of Directors has approved a share buyback program on Thursday, August 31st that permits the company to buyback $50.00 million in shares. Voya Investment Management LLC now owns 4,322,636 shares of the company's stock valued at $88,441,000 after buying an additional 870,550 shares during the period.

Several analysts recently weighed in on the company. PNC Financial Services Group Inc.'s holdings in Regal Entertainment Group were worth $957,000 as of its most recent SEC filing. The stock presently has an average rating of Hold and an average target price of $22.92.

Recently, In a research report issued on 18 October, Regal Entertainment (NYSE:RGC) shares have had their Buy Rating reiterated by equity analysts at B. Riley, who now has a $24 price target on company.

Based on the latest notes released to investors, 3 analysts have issued a rating of "buy", 5 analysts "outperform", 5 analysts "hold", 2 analysts "underperform" and 0 analysts "sell". Hilliard Lyons upgraded the stock to "Long-Term Buy" rating in Wednesday, August 26 report.

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Regal Entertainment Group is a leading motion picture exhibitor operating the largest theatre circuit in the United States.



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