Entertaiment

Regal Entertainment Group (RGC) Shares Surge on Cineworld Deal

Regal Entertainment Group (RGC) Shares Surge on Cineworld Deal

Many analysts are providing their Estimated Earnings analysis for Regal Entertainment Group and for the current quarter 15 analysts have projected that the stock could give an Average Earnings estimate of $0.41/share. They noted that the move was a valuation call.

There's a big merger in the movie theater business with word that British company Cineworld is buying Regal Entertainment for $3.6 billion. For the next 5 years, Regal Entertainment Group is expecting Growth of 10% per annum, whereas in the past 5 years the growth was -0.94% per annum. Wedbush reiterated a "buy" rating and set a $25.00 target price on shares of Regal Entertainment Group in a report on Monday, February 6th. This is contrary to shares in Regal, which have increased since about 13 percent since talks were first revealed. Credit Suisse Group AG downgraded Regal Entertainment Group from a "neutral" rating to an "underperform" rating and set a $20.00 target price on the stock.in a report on Tuesday, January 31st.

Regal Entertainment Group (RGC) will report its next earnings on Oct 24 AMC.

The deal for $23 per share comes one week after the two companies confirmed reports they were holding takeover talks that jolted stocks of cinema operators. Regal Entertainment Group has a twelve month low of $13.90 and a twelve month high of $23.56. The firm has a market capitalization of $3,218.81, a PE ratio of 23.30, a PEG ratio of 2.15 and a beta of 1.13.

Regal Entertainment Group (NYSE:RGC) last announced its earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.04 by $0.03. Regal Entertainment Group had a net margin of 4.41% and a negative return on equity of 16.36%. It reported revenue of 798 million pounds, or about $1.1 billion, in its 2016 financial year. During the same period a year ago, the firm earned $0.29 earnings per share. Investors of record on Monday, June 5th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Thursday, June 1st. Regal Entertainment Group's payout ratio is 101.15%.




The transaction was approved unanimously by Cineworld's and Regal's board of directors. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Other large investors also recently made changes to their positions in the company.

WARNING: "Regal Entertainment Group (RGC) Cut to Market Perform at Barrington Research" was posted by The Lincolnian Online and is owned by of The Lincolnian Online. Hamlin Capital Management LLC now owns 4,335,507 shares of the company's stock worth $69,368,000 after purchasing an additional 60,489 shares during the last quarter. NY grew its stake in Regal Entertainment Group by 15.8% in the third quarter.

The company had seen its current volume reaching at 5.93 million shares in the last trade. Neuberger Berman Group LLC raised its stake in Regal Entertainment Group by 20.9% during the 3rd quarter.

Cineworld will fund the acquisition of Regal through approximately $4 billion of new debt facilities and an approximately $2.3 billion equity raise by way of a rights issue, including a commitment for GCH, Cineworld's 28% shareholder, to fully subscribe to its pro-rata portion of the rights issue.


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