Cineworld agrees £2.7bn deal to buy U.S. cinema chain Regal

UK's Cineworld targets US expansion with $3.6 billion deal to buy Regal Entertainment

Workers repair a sign at a Cineworld cinema in Bradford northern England. Image source Reuters

State Board of Administration of Florida Retirement System maintained its stake in shares of Regal Entertainment Group (NYSE:RGC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission.

The Anschutz Corporation, the US-based media and entertainment group, which has 67 per cent of the voting power in Regal, has also agreed to the deal. NY increased its holdings in Regal Entertainment Group by 15.8% in the third quarter. At the time of writing, the First Call consensus price target for the company is $20.67.

The approach by Cineworld was considered well-timed as shares in the USA company have plunged more than 20 percent over the a year ago on concerns over stagnant admissions at theatres. The Return on Equity (ROE) value stands at -16.4%.

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

CNX Resources Corporation (NYSE:CNX) recent rally took place on significantly more volume which surged almost 4.6 million contracts on 04-Dec-17 versus its daily average of 3.94 million. During the same period past year, the firm earned $0.29 earnings per share. The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. BidaskClub cut shares of Regal Entertainment Group from a sell rating to a strong sell rating in a report on Thursday, August 10th. This represents a $0.88 annualized dividend and a yield of 4.27%. The ex-dividend date is Friday, December 1st. Regal Entertainment Group's payout ratio is now 101.15%. The stock is trading for about -18.8% less than its 52-week high. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued. Morgan Stanley upgraded Regal Entertainment Group from an "underweight" rating to an "equal weight" rating and set a $17.00 price target on the stock in a research report on Thursday, October 5th. 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. If you are reading this report on another publication, it was illegally copied and reposted in violation of global trademark and copyright law. The move is a logical one for the company, with the U.S. having the largest box office takings globally - something that it will be able to take advantage of using Regal's 7,315 screens and 561 theatres across the US.

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