Regal Entertainment to be acquired by Cineworld Group

06 December, 2017, 01:02 | Author: Terri Saunders

The stock has a market capitalization of $3.22 billion, a P/E ratio of 18.09 and a beta of 0.92. Analysts are turning out to be more optimistic than before, with 3 of analysts who cover CNX Resources Corporation (NYSE:CNX) advice adding it to buy candidate list. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.04.

On a similar note, analysts expect EPS of $0.41 in December 2017 quarter and $0.25 in March 2018 quarter, representing 24.24% and -21.88% growth, respectively. Revenue, on the other hand, scored -27.69% growth from the previous quarter, coming up with $626.15 million. The stock's last price was higher from the average trading price of 50 days recorded at $63.95 while enlarging the period to 200 trading days, the average price was $59.89.

This company shares (CNX) so far managed to recover 33.87% since collapsing to its 52-week low. 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.

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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. But since then, those gains have faded by -0.4%.

The investigation concerns whether the Regal board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Regal shares of common stock. The current consensus recommendation provided by covering analysts is 2.30. If the published price targets set by Regal Entertainment Group analysts have any power to influence the stock's share price, the highest price target set for RGC is $24.75.

The UK cinema group will pay $23 a share for Regal. Following the completion of the sale, the insider now owns 67,052 shares in the company, valued at approximately $1,485,201.80. At the close of regular trading, its last week's stock price volatility was 6.08% which for the month reaches 8.39%. Finally, Credit Suisse Group decreased their price objective on shares of Regal Entertainment Group from $17.00 to $13.00 and set an underperform rating for the company in a report on Thursday, September 28th. At one point in the past year, the shares traded as low as $13.90 but has recovered 49.14% since then.


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