REGAL ENTERTAINMENT GROUP (RGC) is expectedto report earnings after the market closes on Tuesday, May 1, 2012, with the conference call immediately afterwards.
RGC is expected to earn $0.14 for its 1st quarter. Top Equity News expects the largest and most geographically diverse theatre circuit in the United States, consisting of 6,587 screens in 523 theatres in 37 states and the District of Columbia to report earnings that will beat Wall Street’s expectations. TEN’s estimate is 18 cents – a 4 cent upside surprise.
Regal Entertainment has beat consensus earnings estimates for five consecutive quarters by at least 20%. With an assist from the huge box office hit, “The Hunger Games”, TEN see RGC making it 10 in a row.
Regal’s stock price has followed its earnings in the last five quarters – top side surprises followed by respectable gains. The returns in order from the most recent are 14.1%, 11.1%, 8.8%, 1.7%, and 9.9%.
As you can see, If Regal repeats its recent history; your portfolio will be anything but hungry.
A recent bullish MACD crossover on RGC stock chart is a good sign heading into Tuesday’s announcement. If Regal does what Top Equity believes they will do on the bottom line, and management provides a sunny outlook, then the stock has room to move to $14.25. That’s a potential gain of 7.5% and in line with RGC’s recent eps profit performance.
UPDATE: Last week’s pick, Commercial Vehicle Group, Inc. (CVGI) moved its earnings announcement to before the market opens Thursday, May 3, 2012. Hopefully, it will be a double-play for Top Equity Readers.
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