Published: Tue, December 05, 2017
Finance | By Loren Pratt

Cineworld agrees £2.7bn deal to buy USA cinema chain Regal

MKM Partners reiterated a "buy" rating and set a $20.00 price objective on shares of Regal Entertainment Group in a report on Monday, September 18th. Paradigm Capital Management Inc.

Regal Entertainment Group (NYSE:RGC) last announced its earnings results on Wednesday, April 26th. IFP Advisors Inc boosted its stake in Regal Entertainment Group by 164.3% during the 2nd quarter. Martingale Asset Management L P increased its holdings in Regal Entertainment Group by 19.0% in the second quarter. The stock has fallen 19% since news emerged about the talks. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.04 by $0.03. The difference between the expected and actual EPS was $0.02/share, which represents an Earnings surprise of 40%. The Manufacturers Life Insurance Company grew its holdings in Regal Entertainment Group by 8.3% in the 2nd quarter. 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. Edge Advisors LLC now owns 174,421 shares of the company's stock valued at $2,789,000 after buying an additional 23,174 shares during the last quarter. Institutional investors and hedge funds own 65.33% of the company's stock.

Billionaire Philip Anschutz's Anschutz Corp. has agreed to provide its written consent to back the deal, the only Regal shareholder action required to approve the transaction, Cineworld said. The return on equity ratio or ROE stands at 13.4 percent while most common profitability ratio return on investment (ROI) was 5 percent.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. The institutional investor owned 148,531 shares of the company's stock at the end of the first quarter. At present, 0 analysts call it Sell, while 4 think it is Hold. Regal Entertainment Group's payout ratio is 101.15%. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued. Following the sale, the executive vice president now owns 212,715 shares of the company's stock, valued at approximately $4,786,087.50.

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Regal runs one of the largest theatre circuits in the country from corporate offices in Knoxville. As of December 31, 2016, the Company operated 7,267 screens in 561 theatres in 42 states along with Guam, Saipan, American Samoa and the District of Columbia.

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