NEW YORK (TheStreet) -- Shares of Regal Entertainment Group (RGC) are sliding 2.11% to $23.18 in mid-morning trading today after the movie theater company reported worse-than-expected second quarter results after yesterday's market close.
Regal Entertainment posted earnings of 23 cents per share, falling short of analysts projected 24 cents per share. Revenue came in at $785.9 million, missing analysts estimates of $794.74 million.
"In a challenging second quarter box office environment, we were pleased that our ongoing seating and concession initiatives had a positive impact on our operating metrics including new record highs in both average ticket price and concession sales per patron," said Regal Entertainment CEO Amy Miles in a statement.
Last year, the company posted earnings of 38 cents per share on revenue of $862.8 million.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate REGAL ENTERTAINMENT GROUP as a Hold with a ratings score of C+. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we find that the company's profit margins have been poor overall.
You can view the full analysis from the report here: RGC