Manchester United Ltd. (MANU) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Manchester United Ltd. (NYSE:MANU) from a strong sell rating to a hold rating in a report published on Saturday morning.
According to Zacks, “Manchester United PLC operates a professional sports team. The Company manages the soccer team and all affiliated club activities of the Manchester United Football Club that includes the media network, foundation, fan zone, news and sports features, and team merchandise. Manchester United PLC is based in Manchester, United Kingdom. “
A number of other equities analysts have also weighed in on MANU. Jefferies Group LLC reiterated a buy rating and issued a $19.00 price target on shares of Manchester United in a research report on Wednesday, August 16th. BidaskClub lowered shares of Manchester United from a buy rating to a hold rating in a research report on Monday, July 31st. Finally, Deutsche Bank AG reiterated a buy rating and issued a $20.00 price target (up from $19.00) on shares of Manchester United in a research report on Monday, September 25th.
Manchester United (MANU) traded up $0.55 on Friday, hitting $19.55. 70,616 shares of the company’s stock were exchanged, compared to its average volume of 59,528. The company has a market capitalization of $785.81, a price-to-earnings ratio of 63.06, a P/E/G ratio of 15.62 and a beta of 0.57. Manchester United has a fifty-two week low of $14.10 and a fifty-two week high of $19.88. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.04.
Manchester United (NYSE:MANU) last posted its quarterly earnings results on Thursday, November 16th. The company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. The business had revenue of $141.00 million during the quarter, compared to analyst estimates of $133.94 million. Manchester United had a net margin of 7.67% and a return on equity of 8.77%. Manchester United’s revenue was up 17.3% on a year-over-year basis. equities research analysts expect that Manchester United will post 0.05 EPS for the current year.
The business also recently announced a dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, November 30th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, November 29th. Manchester United’s dividend payout ratio is 51.43%.
Several large investors have recently modified their holdings of MANU. Morgan Stanley boosted its position in shares of Manchester United by 1.1% during the first quarter. Morgan Stanley now owns 177,295 shares of the company’s stock worth $2,997,000 after acquiring an additional 1,868 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Manchester United by 2.1% during the first quarter. Renaissance Technologies LLC now owns 390,700 shares of the company’s stock worth $6,603,000 after acquiring an additional 8,000 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Manchester United by 19.6% during the first quarter. Bank of America Corp DE now owns 26,160 shares of the company’s stock worth $442,000 after acquiring an additional 4,290 shares during the last quarter. K.J. Harrison & Partners Inc boosted its position in shares of Manchester United by 87.3% during the second quarter. K.J. Harrison & Partners Inc now owns 51,010 shares of the company’s stock worth $829,000 after acquiring an additional 23,781 shares during the last quarter. Finally, Clark Estates Inc. NY boosted its position in shares of Manchester United by 3.0% during the second quarter. Clark Estates Inc. NY now owns 79,298 shares of the company’s stock worth $1,289,000 after acquiring an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 90.57% of the company’s stock.
About Manchester United
Manchester United plc is engaged in the operation of a professional football club together with related and ancillary activities. Its football operations primarily comprise various activities, such as its first team, reserve team, youth academy, global scouting networks and other operations, such as its sport science, medical and fitness operations at the Aon Training Complex.
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