Regal Entertainment Group (RGC) Shares Surge on Cineworld Deal
06 December, 2017, 01:04 | Author: Lester Mason
It means Cineworld Group PLC will acquire Regal, a leading motion picture exhibitor. As of November 15th, there was short interest totalling 34,536,188 shares, a growth of 28.8% from the October 31st total of 26,821,815 shares.
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The company had seen its current volume reaching at 5.93 million shares in the last trade. Regal Entertainment Group had a net margin of 5.33% and a negative return on equity of 20.07%. Analysts predict that Regal Entertainment Group will post $1.25 EPS for the current fiscal year. The volume of RGC witnessed a shift from 5.93 million shares, based on a 50-day average, to 5 million shares. The company had revenue of $716.00 million for the quarter, compared to analysts' expectations of $701.66 million. They expect this year's earnings to fall -14.41% year-over-year to $0.95, followed by 11.58% growth in the next year to $1.06. Wedbush set a $20.00 price target on Regal Entertainment Group and gave the stock a "buy" rating in a research report on Wednesday, October 25th. The stock's last price was higher from the average trading price of 50 days recorded at $63.95 while enlarging the period to 200 trading days, the average price was $59.89. The ex-dividend date of this dividend is Friday, December 1st. It last reported revenues of $816.8 million and EPS of $0.62 for the August 2017, representing 4% top-line growth and 0.6 EPS growth. Regal Entertainment Group's payout ratio is 81.48%. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued. Nationally recognized Johnson Fistel is investigating whether the proposed deal price represents adequate consideration, especially given one Wall Street analyst has a $24.75 price target on the stock. Finally, Wunderlich reiterated a "buy" rating and set a $31.00 target price on shares of Regal Entertainment Group in a report on Monday, March 20th.
Regal Entertainment Group is an operator of theatre circuits in the United States.
The US has the largest box office takings worldwide and Regal Entertainment Group has 7,315 screens in 561 theatres - the vast majority of them in the US. The Company manages its business under theatre exhibition operations segment.
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