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British movie theater chain agrees to buy Regal for $3.6 billion
06 December 2017, 01:04 | Jan Cross
US cinema operator Regal Entertainment Group to be bought by UK's Cineworld Group
Amy Miles, the Regal chief executive, said the offer represented "a meaningful premium on Regal's unaffected share price" and provided "compelling value for our stockholders". They are projecting Next Quarter growth of -31.2%.
Cineworld CEO Mooky Greidinger said that the company expects to bring Regal's profit margins closer to Cineworld, the latter of which has a 22% margin, while Regal has slightly less than a 20% profit margin. 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. Alliancebernstein L.P. boosted its stake in shares of Regal Entertainment Group by 11.6% during the 2nd quarter.
Regal Entertainment Group has a beta of 0.98, offering the possibility of a higher rate of return, but also posing more risk.
The approach by Cineworld was considered well-timed as shares in the USA company have plunged more than 20 percent over the previous year on concerns over stagnant admissions at theatres. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The company has a debt-to-equity ratio of -2.84, a quick ratio of 0.78 and a current ratio of 0.84. The volume of RGC witnessed a shift from 5.93 million shares, based on a 50-day average, to 5 million shares. Revenue, on the other hand, scored -27.69% growth from the previous quarter, coming up with $626.15 million. During the same period a year ago, the firm earned $0.29 earnings per share. Investors of record on Monday, June 5th will be paid a dividend of $0.22 per share. A rating of 4 or 5 would represent a Sell recommendation. The ex-dividend date is Thursday, June 1st. Regal Entertainment Group's payout ratio is 81.48%.
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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. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued. California State Teachers Retirement System now owns 175,987 shares of the company's stock valued at $3,828,000 after buying an additional 1,700 shares during the last quarter.
When it comes to the Analysis of a Stock, Price Target plays a vital role. Finally, Royal Bank of Canada increased its holdings in Regal Entertainment Group by 17.2% in the second quarter.
Cineworld has offered $23 a share for Regal, the second-largest cinema chain in the USA, as announced last week when it confirmed that the two companies were in talks.
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