Analysts predict that Regal Entertainment Group will post $1.25 EPS for the current fiscal year. This represents a $0.88 annualized dividend and a yield of 4.27%. They noted that the move was a valuation call. NY increased its holdings in Regal Entertainment Group by 15.8% in the third quarter.
The approach by Cineworld was considered well-timed as shares in the US company have plunged more than 20 percent over the past year on concerns over stagnant admissions at theatres.
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 Entertainment Group's payout ratio is now 101.15%. BidaskClub cut shares of Regal Entertainment Group from a sell rating to a strong sell rating in a report on Thursday, August 10th.
The Relative Volume of the company is 2.07 and Average Volume (3 months) is 4.92 million.
It means Cineworld Group PLC will acquire Regal, a leading motion picture exhibitor.
Session activity on Regal Entertainment Group (NYSE:RGC) stock is placing it on today's most active list. The stock is trading for about -18.8% less than its 52-week high. This buyback authorization allows the company to purchase up to 2.2% of its stock through open market purchases. Analysts giving the company a rating of 3 would be indicating a Hold recommendation. The stock now has a consensus rating of "Hold" and an average target price of $21.48. The portion of a company's profit allocated to each outstanding share of common stock was $2.29 a share in the trailing twelve months. The combination is also an attempt to meet the challenge of AMC, which has been spending to improving its cinemas - including the Odeon chain in the United Kingdom - since it was acquired by Wanda for $2.6bn in 2012. Hedge funds and other institutional investors own 85.33% of the company's stock. Finally, Credit Suisse Group dropped their price target on Regal Entertainment Group from $17.00 to $13.00 and set an "underperform" rating on the stock in a research report on Thursday, September 28th.
TRADEMARK VIOLATION WARNING: This report was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal.
Regal Entertainment Group is an operator of theatre circuits in the United States.
Cineworld has offered $23 a share for Regal, the second-largest cinema chain in the US, as announced last week when it confirmed that the two companies were in talks.