Cineworld to buy Regal Entertainment Group for $3.6 billion

The latest Star Wars installment The Last Jedi is set to boost cinema takings over Christmas
Credit Lucasfilm Ltd

State Board of Administration of Florida Retirement System owned about 0.10% of Regal Entertainment Group worth $3,354,000 at the end of the most recent quarter.

Shares in Cineworld dropped more than three per cent in early trading but had recovered later in the morning, trading down 1.1 per cent at 540p. For the past 5 years, the company's revenue has grown 3.6%, while the company's earnings per share has grown 31.7%. Edge Advisors LLC increased its holdings in Regal Entertainment Group by 15.3% in the third quarter.

A number of key analysts, polled by FactSet, shared their views about the current stock momentum. Bronfman E.L. Rothschild L.P. boosted its stake in Regal Entertainment Group by 169.5% during the 2nd quarter. This buyback authorization allows the company to purchase up to 2.2% of its stock through open market purchases. Hedge funds and other institutional investors own 85.33% of the company's stock. The firm's 50-day moving average price is $21.44 and its 200 day moving average price is $21.92. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters' 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%. During the same quarter in the previous year, the company earned $0.27 EPS.

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Regal's profit dropped to $11 million during the three months that ended September 30, down 73% from the same quarter past year. 1 analysts call it Underweight, while 6 think it is Overweight. At present, 0 analysts call it Sell, while 4 think it is Hold. Regal Entertainment Group's dividend payout ratio (DPR) is presently 101.15%. RGC has been the topic of several analyst reports. Finally, Loop Capital decreased their target price on Regal Entertainment Group from $25.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, October 23rd. The stock tapped a 52-week high of US$23.56 while the mean 12-month price target for the shares is US$19.44. BidaskClub cut shares of Regal Entertainment Group from a sell rating to a strong sell rating in a report on Thursday, August 10th. The company now has a consensus rating of "Hold" and an average price target of $21.48. The stock has fallen 19% since news emerged about the talks. The disclosure for this sale can be found here.

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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