Cineworld buying Regal movie chain in global expansion

Cineworld buying Regal movie chain in global expansion

Cineworld buying Regal movie chain in global expansion

Ticket sales in the United States and Canada are down 4 percent from the comparable time a year ago, according to ComScore.

Session activity on Regal Entertainment Group (NYSE:RGC) stock is placing it on today's most active list. Shares in the group have risen more than 13 per cent since news of merger talks first emerged. The portion of a company's profit allocated to each outstanding share of common stock was $2.29 a share in the trailing twelve months. The offer price represents a premium of 43.2% over Regal's 30-day unaffected weighted average share price of $16.06. 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. Epoch Investment Partners Inc. now owns 7,261,026 shares of the company's stock worth $148,561,000 after buying an additional 103,100 shares during the period.

Shares of Regal Entertainment Group (NYSE:RGC) opened at 20.62 on Friday. Year-to-date it plunged -0.49%. 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.

United Kingdom vehicle sales plunge on diesel slump
Diesel registrations fell -30.6% in the month and are now tracking at -16.1% in the year-to-date. The Ford Fiesta remains the biggest selling model ahead of the VW Golf and Ford Focus.

CNX Resources Corporation (CNX) remained unsuccessful in beating the consensus-estimated $0.02 as it actually earned -$0.15 per share in its last reported financial results. The business had revenue of $821.20 million for the quarter, compared to the consensus estimate of $808.18 million. The company had revenue of $716.00 million for the quarter, compared to analysts' expectations of $701.66 million. Regal Entertainment Group's revenue for the quarter was up 4.3% compared to the same quarter a year ago. Analysts had predicted $0.05. The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Regal Entertainment Group's payout ratio is 81.48%.

Other equities analysts have also issued reports about the stock. Credit Suisse Group AG downgraded Regal Entertainment Group from a "neutral" rating to an "underperform" rating and set a $20.00 target price on the a report on Tuesday, January 31st. 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock.

WARNING: "Regal Entertainment Group (RGC) Cut to Market Perform at Barrington Research" was posted by The Lincolnian Online and is owned by of The Lincolnian Online.

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