Regal Entertainment shares hit 52-week high


Shares of movie theater operator Regal Entertainment Group hit a 52-week high today — $21.08.
The Knoxville based company has seen its stock price climb slowly but steadily over the last 12 months. Since Jan. 1, shares have gained more than 8 percent.
In early afternoon trading, the price had slipped back from the 52-week high, trading at $21.02, up 11 cents from Tuesday’s closing price.
At least one analyst thinks Regal, the largest movie theater operator in the country, could see its shares hit $23 by the end of this year.
Writing for the financial website Seeking Alpha, research analyst Gary Bourgeault says:
“If it is able to sustainably trade above $20.00 per share, I believe the company will be rewarded by investors. With the summer season upon us, and the holiday season to follow, I see the share price of Regal breaking the $23.00 mark by the end of 2014, as blockbusters like The Hunger Games and The Hobbit are released, along with the ongoing benefit of an increase in adjusted EBITDA to $137 million in the first quarter, with expectations that should continue to grow through the end of the year.”
Click here for Bourgeault’s full report.