Cineworld announce deal to buy Regal Entertainment, shares fall

Posted December 06, 2017

The stock has a market capitalization of $3,173.27, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.13. Currently, 355.1 million total shares are owned by the public and among those 320.11 million shares have been available to trade. The volume of RGC witnessed a shift from 5.93 million shares, based on a 50-day average, to 5 million shares. Analysts reported that the Price Target for Regal Entertainment Group might touch $24.75 high while the Average Price Target and Low price Target is $21.44 and $17 respectively.

The UK cinema group will pay $23 a share for Regal. They noted that the move was a valuation call. The business had revenue of $821.20 million for the quarter, compared to the consensus estimate of $808.18 million.

The U.S. experienced its lowest box office earnings in more than two decades, but annual takings have still managed to surpass $11 billion for the last two years.

Regal's profit dropped to $11 million in the quarter ended September 30, down 73 percent from the comparable quarter a year ago.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. 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. The ex-dividend date is Thursday, June 1st. Regal Entertainment Group's payout ratio is now 101.15%. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

CNX Resources Corporation is maintained at an average hold rating by 9 stock analysts, and there are at least 3.05% of shares outstanding that are now legally short sold. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company's stock. Regal Entertainment Group has an average rating of "Hold" and an average price target of $26.21. 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.

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