Regal Entertainment Group (rgc) to Issue Quarterly Dividend of $0.22 on December 15th
Regal Entertainment Group (NYSE:rgc) announced a quarterly dividend on Friday, October 28th. Stockholders of record on Monday, December 5th will be paid a dividend of 0.22 per share on Thursday, December 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Thursday, December 1st.
Shares of Regal Entertainment Group (NYSE:RGC) opened at 23.24 on Wednesday. The stock has a 50 day moving average of $22.77 and a 200 day moving average of $21.88. The stock has a market cap of $3.63 billion, a P/E ratio of 21.28 and a beta of 0.92. Regal Entertainment Group has a one year low of $16.50 and a one year high of $24.79.
Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $811.50 million for the quarter, compared to analysts’ expectations of $787.99 million. Regal Entertainment Group had a net margin of 5.31% and a negative return on equity of 20.69%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. Equities analysts expect that Regal Entertainment Group will post $1.06 EPS for the current fiscal year.
RGC has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Regal Entertainment Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. B. Riley raised shares of Regal Entertainment Group from a “neutral” rating to a “buy” rating and set a $24.75 price target on the stock in a report on Monday, October 31st. Wedbush reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Regal Entertainment Group in a report on Monday, October 24th. Loop Capital reaffirmed a “hold” rating and issued a $22.00 price target on shares of Regal Entertainment Group in a report on Monday, September 26th. Finally, Goldman Sachs Group Inc. raised shares of Regal Entertainment Group from a “neutral” rating to a “conviction-buy” rating and set a $47.00 price target on the stock in a report on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.66.
In other news, insider Gregory W. Dunn sold 30,765 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $21.75, for a total transaction of $669,138.75. Following the completion of the transaction, the insider now owns 74,151 shares in the company, valued at approximately $1,612,784.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Philip F. Anschutz sold 13,000,000 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $22.95, for a total transaction of $298,350,000.00. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Morgan Stanley raised its position in Regal Entertainment Group by 48.7% in the third quarter. Morgan Stanley now owns 202,481 shares of the company’s stock valued at $4,404,000 after buying an additional 66,359 shares during the period. Principal Financial Group Inc. raised its position in Regal Entertainment Group by 20.2% in the third quarter. Principal Financial Group Inc. now owns 50,028 shares of the company’s stock valued at $1,088,000 after buying an additional 8,414 shares during the period. Northern Trust Corp raised its position in Regal Entertainment Group by 5.0% in the third quarter. Northern Trust Corp now owns 867,149 shares of the company’s stock valued at $18,861,000 after buying an additional 41,310 shares during the period. BlackRock Group LTD raised its position in Regal Entertainment Group by 5.7% in the third quarter. BlackRock Group LTD now owns 59,682 shares of the company’s stock valued at $1,298,000 after buying an additional 3,245 shares during the period. Finally, BlackRock Fund Advisors raised its position in Regal Entertainment Group by 5.9% in the third quarter. BlackRock Fund Advisors now owns 806,845 shares of the company’s stock valued at $17,549,000 after buying an additional 44,901 shares during the period. Institutional investors own 65.46% of the company’s stock.
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Regal Entertainment Group Company Profile
Regal Entertainment Group (Regal) operates a theatre circuit in the United States. The Company operates in the segment of theatre exhibition operations. It develops, acquires and operates multi-screen theatres in mid-sized metropolitan markets and suburban growth areas of metropolitan markets throughout the United States.
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