Regal Entertainment Group (RGC) Shares Surge on Cineworld Deal

Ivan Schwartz
December 6, 2017

Royal Bank Of Canada upgraded shares of Regal Entertainment Group from a sector perform rating to an outperform rating and increased their price objective for the company from $19.00 to $20.00 in a report on Thursday, October 26th. The company reported the earnings of $0.07/Share in the last quarter where the estimated EPS by analysts was $0.05/share.

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.

The acquisition price of $23 per Regal share values the entire issued and to be issued share capital of Regal at $3.6 billion or about 2.7 billion pounds, with an implied enterprise value of $5.8 billion or 4.3 billion pounds. 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. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Other large investors also recently made changes to their positions in the company. Cineworld shares have fallen about 20 percent in the period.

Cineworld shares opened down 1.1 per cent on Tuesday morning. Finally, Eagle Asset Management Inc. grew its holdings in Regal Entertainment Group by 18.3% during the third quarter. Neuberger Berman Group LLC raised its stake in Regal Entertainment Group by 20.9% during the 3rd quarter.

Oklahoma leading rusher Rodney Anderson accused of rape
The woman said she later recalled incidents she say happened inside her apartment, including forceful contact and biting. Until then, Anderson is prohibited from having any contact with the alleged victim and to stay away from her residence.

Australia, citing concerns over China cracks down on foreign political influence
That Beijing would use seduction, corruption and coercion to promote its interests is neither surprising nor unique. Australia expressed deep concern last month over a crackdown on pro-democracy groups in Cambodia.

LMR Partners LLP Reduces Position in Marathon Petroleum Corporation (NYSE:MPC)
In recent trading day Marathon Oil Corporation ( MRO ) stock showed the move of 1.62% with the closing price of $15.08. The Massachusetts-based State Street Corporation has invested 0% in Lattice Semiconductor Corporation (NASDAQ:LSCC).

Miles continued, "We believe this partnership with Cineworld will enhance Regal's ability to deliver a premium moviegoing experience for customers and further build upon our strategy of introducing innovative concepts and premium amenities created to enhance the value of our theatre assets".

Shares of Paychex, Inc. 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. Following the sale, the executive vice president now owns 212,715 shares of the company's stock, valued at approximately $4,786,087.50.

TRADEMARK VIOLATION WARNING: This report was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another domain, it was illegally copied and republished in violation of global trademark & copyright law.

The Financial Times reported Tuesday that the all-cash buyout would bring the merged company up to a total of 9,500 screens, making it "the world's second largest cinema chain by number of screens behind AMC Theatres, owned by China's Dalian Wanda Group". The Company manages its business under theatre exhibition operations segment.

Other reports by GizPress

Discuss This Article