Manchester United (NYSE:MANU) Upgraded by Zacks Investment Research to Buy


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Zacks Investment Research upgraded shares of Manchester United (NYSE:MANU) from a hold rating to a buy rating in a report published on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $18.00 target price on the stock.

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. “

Separately, BNP Paribas began coverage on Manchester United in a research report on Friday, November 13th. They set a neutral rating and a $17.00 price objective on the stock.

Shares of NYSE:MANU opened at $16.84 on Thursday. Manchester United has a 1-year low of $12.06 and a 1-year high of $20.45. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.50 and a quick ratio of 0.49. The business has a fifty day moving average price of $16.27 and a 200-day moving average price of $15.29. The company has a market capitalization of $655.73 million, a PE ratio of -39.16 and a beta of 0.89.

Manchester United (NYSE:MANU) last issued its quarterly earnings results on Thursday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.09). Manchester United had a negative net margin of 11.17% and a negative return on equity of 11.89%. The company had revenue of $109.00 million for the quarter, compared to the consensus estimate of $166.55 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. Manchester United’s revenue was down 19.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Manchester United will post 0.04 earnings per share for the current fiscal year.

The firm also recently disclosed a Semi-Annual dividend, which was paid on Thursday, January 7th. Investors of record on Monday, November 30th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, November 27th. This represents a dividend yield of 1.1%. Manchester United’s dividend payout ratio (DPR) is presently -180.00%.

Several institutional investors have recently added to or reduced their stakes in MANU. Schonfeld Strategic Advisors LLC purchased a new position in Manchester United in the third quarter worth about $221,000. Cubist Systematic Strategies LLC purchased a new position in Manchester United in the third quarter worth about $187,000. Sandell Asset Management Corp. boosted its position in Manchester United by 28.0% in the third quarter. Sandell Asset Management Corp. now owns 320,000 shares of the company’s stock worth $4,653,000 after purchasing an additional 70,000 shares during the last quarter. Weld Capital Management LLC boosted its position in Manchester United by 79.9% in the third quarter. Weld Capital Management LLC now owns 20,145 shares of the company’s stock worth $293,000 after purchasing an additional 8,945 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Manchester United by 93.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 120,864 shares of the company’s stock worth $1,757,000 after purchasing an additional 58,519 shares during the last quarter. 79.50% of the stock is currently owned by institutional investors.

About Manchester United

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. The company operates Manchester United Football Club, a professional football club. It develops marketing and sponsorship relationships with international and regional companies to leverage its brand.

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