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Main » Cineworld clinches $3.6bn reverse takeover of Regal

Cineworld clinches $3.6bn reverse takeover of Regal

06 December 2017

RGC's mean recommendation on Reuter's scale slipped from 2.33 thirty days ago to 2.15 now, which indicates a hold consensus from the analyst community. They noted that the move was a valuation call. Alliancebernstein L.P. boosted its stake in shares of Regal Entertainment Group by 11.6% during the 2nd quarter. The difference between the expected and actual EPS was $0.02/share, which represents an Earnings surprise of 40%. Regal Entertainment Group's payout ratio is now 101.15%.

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.

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.

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".


Cineworld, Britain's biggest cinema operator, would pay $23 a share for Regal, which runs 561 theater locations, including five in the Baltimore region. The combination is also an attempt to meet the challenge of AMC, which has been spending to improving its cinemas - including the Odeon chain in the United Kingdom - since it was acquired by Wanda for $2.6bn in 2012. 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. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued. The stock now has a consensus rating of "Hold" and an average target price of $21.48.

Company shares have been seen trading -3.74% off of the 52 week high and 63.17% away from the 52 week low. Royal Bank of Canada now owns 724,860 shares of the company's stock valued at $14,831,000 after buying an additional 106,214 shares during the last quarter. Institutional investors and hedge funds own 65.33% of the company's stock. 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.

TRADEMARK VIOLATION WARNING: This report was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal.

Regal is three times larger than Cineworld by market value and the combined company would have about 9,542 screens, with 7,315 screens in the United States. The Company manages its business under theatre exhibition operations segment.

Cineworld clinches $3.6bn reverse takeover of Regal