Manchester United Ltd. (MANU) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Manchester United Ltd. (NYSE:MANU) posted its quarterly earnings results on Thursday. The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02, Bloomberg Earnings reports. Manchester United had a return on equity of 4.36% and a net margin of 2.51%. The firm had revenue of $175.90 million during the quarter, compared to analysts’ expectations of $160.47 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The company’s revenue was up 30.8% on a year-over-year basis.
Shares of Manchester United (NYSE:MANU) opened at 17.45 on Friday. The company has a 50 day moving average price of $16.79 and a 200 day moving average price of $16.64. Manchester United has a one year low of $14.10 and a one year high of $18.30. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 158.64 and a beta of 0.54.
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Several research analysts have recently weighed in on MANU shares. Zacks Investment Research upgraded Manchester United from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Jefferies Group LLC restated a “buy” rating and issued a $19.00 price target on shares of Manchester United in a research note on Wednesday, August 16th. Finally, BidaskClub upgraded Manchester United from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $19.85.
An institutional investor recently raised its position in Manchester United stock. State Street Corp increased its position in Manchester United Ltd. (NYSE:MANU) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,138 shares of the company’s stock after acquiring an additional 395 shares during the period. State Street Corp owned approximately 0.11% of Manchester United worth $701,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 72.26% of the company’s stock.
Manchester United Company Profile
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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