Cineworld Agrees To Buy Regal Entertainment For $3.6 Bln

US cinema operator Regal Entertainment Group to be bought by UK's Cineworld Group

That compares with the recent volume average of 5 million. RGC has been the topic of several analyst reports.

Cineworld Group on Tuesday announced that it has agreed to buy USA counterpart Regal Entertainment for $3.6 billion, in a deal that would give the British movie theater operator more screens to compete with industry leader AMC Entertainment. Finally, Morgan Stanley boosted their target price on Regal Entertainment Group from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 26th.

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. Regal Entertainment Group has an average rating of Hold and a consensus price target of $21.48.

A number of large investors have recently modified their holdings of RGC. Pacer Advisors Inc. now owns 6,945 shares of the company's stock valued at $151,000 after buying an additional 588 shares during the last quarter. Paradigm Capital Management Inc.

The company had seen its current volume reaching at 5.93 million shares in the last trade. Edge Advisors LLC grew its stake in Regal Entertainment Group by 15.3% in the third quarter. California State Teachers Retirement System increased its stake in shares of Regal Entertainment Group by 1.0% in the third quarter.


Regal's profit dropped to $11 million in the quarter ended September 30, down 73 percent from the comparable quarter previous year. Royal Bank of Canada now owns 724,860 shares of the company's stock worth $14,831,000 after acquiring an additional 106,214 shares during the last quarter.

Investors did not appear to like what they saw as the Cineworld share price was nearly 4% lower in Tuesday morning trading - following losses of up to 20% last week when news of the talks emerged. The company has a debt-to-equity ratio of -2.84, a current ratio of 0.84 and a quick ratio of 0.78. Regal Entertainment Group has a twelve month low of $13.90 and a twelve month high of $23.56. The company's P/E (price to earnings) ratio is 24.7 and Forward P/E ratio of 19.19.

Regal Entertainment Group (NYSE:RGC) last announced its earnings results on Tuesday, October 24th. Regal Entertainment Group had a net margin of 4.41% and a negative return on equity of 16.36%. The company had Year Ago Sales of 812.6 Million. During the same period in the prior year, the company earned $0.29 earnings per share. Investors of record on Monday, December 4th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.27%. Alliancebernstein L.P. raised its stake in Regal Entertainment Group by 11.6% during the 2nd quarter.

The transaction has been approved unanimously by Regal's and Cineworld's boards of cirectors. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Regal Entertainment Group (RGC) will report its next earnings on Oct 24 AMC. If you are reading this report on another publication, it was illegally copied and reposted in violation of worldwide trademark and copyright law.

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