Business

Cineworld to buy Regal Entertainment Group for $3.6 billion

Cineworld to buy Regal Entertainment Group for $3.6 billion

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.

Session activity on Regal Entertainment Group (NYSE:RGC) stock is placing it on today's most active list.

Many analysts are providing their Estimated Earnings analysis for Regal Entertainment Group and for the current quarter 15 analysts have projected that the stock could give an Average Earnings estimate of $0.41/share. The company reported the earnings of $0.07/Share in the last quarter where the estimated EPS by analysts was $0.05/share. Vanguard Group Inc. raised its position in shares of Regal Entertainment Group by 3.0% during the second quarter. Global City Holdings B.V. and the trustee of trusts of which Cineworld's chairman, Anthony Bloom, is a potential discretionary beneficiary, collectively owning approximately 28.8% of Cineworld's ordinary shares, have signed irrevocable undertakings to vote in favor of the transaction and rights offering. Regal shares were up 6.1 percent in pre-market trading. For the next 5 years, Regal Entertainment Group is expecting Growth of 10% per annum, whereas in the past 5 years the growth was -0.94% per annum. Institutional investors and hedge funds own 65.33% of the company's stock. Year-to-date it plunged -0.49%. Regal Entertainment Group has a one year low of $13.90 and a one year high of $23.56. The share price has already crossed its 20 days moving average, floating at a distance of 12.15% and sits 11.47% higher versus its 50 days moving average.

Regal Entertainment Group (NYSE:RGC) last announced its earnings results on Wednesday, April 26th. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The company had Year Ago Sales of 812.6 Million. It reported revenue of $3.2 billion in fiscal year 2016. Analysts had predicted $0.05. Investors of record on Monday, June 5th will be paid a dividend of $0.22 per share. BidaskClub cut shares of Regal Entertainment Group from a sell rating to a strong sell rating in a report on Thursday, August 10th.

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Other equities analysts have also issued reports about the stock.

In case of Revenue Estimates, 13 analysts have provided their consensus Average Revenue Estimates for Regal Entertainment Group as 893.19 Million.

It means Cineworld Group PLC will acquire Regal, a leading motion picture exhibitor. Loop Capital reiterated a "hold" rating and set a $22.00 target price on shares of Regal Entertainment Group in a report on Tuesday, February 7th.


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