Manchester United PLC (MANU) Expected to Post Quarterly Sales of $214.60 Million

Equities analysts expect Manchester United PLC (NYSE:MANU) to post $214.60 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Manchester United’s earnings, with the highest sales estimate coming in at $240.64 million and the lowest estimate coming in at $188.56 million. Manchester United posted sales of $217.63 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.4%. The firm is scheduled to issue its next earnings report on Thursday, February 14th.

On average, analysts expect that Manchester United will report full year sales of $749.92 million for the current year, with estimates ranging from $712.64 million to $787.20 million. For the next financial year, analysts anticipate that the company will post sales of $762.63 million, with estimates ranging from $719.51 million to $819.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Manchester United.

Manchester United (NYSE:MANU) last issued its earnings results on Thursday, November 15th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.15. Manchester United had a positive return on equity of 3.43% and a negative net margin of 6.61%. The firm had revenue of $175.92 million for the quarter, compared to analysts’ expectations of $170.12 million.

A number of brokerages have issued reports on MANU. Zacks Investment Research upgraded Manchester United from a “strong sell” rating to a “hold” rating in a report on Saturday, November 17th. Bank of America raised their target price on Manchester United from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, September 27th. Finally, Jefferies Financial Group raised their target price on Manchester United to $26.00 and gave the stock a “buy” rating in a report on Monday, October 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $23.75.

MANU traded down $0.01 during midday trading on Friday, reaching $18.60. 100 shares of the company were exchanged, compared to its average volume of 43,758. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. Manchester United has a one year low of $18.12 and a one year high of $27.70. The stock has a market cap of $748.02 million, a P/E ratio of 134.14, a price-to-earnings-growth ratio of 4.81 and a beta of 0.79.

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, November 30th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, November 29th. Manchester United’s dividend payout ratio (DPR) is currently 128.57%.

Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC raised its position in shares of Manchester United by 117.2% during the second quarter. Acadian Asset Management LLC now owns 10,262 shares of the company’s stock worth $212,000 after purchasing an additional 5,538 shares during the period. Morgan Stanley raised its position in shares of Manchester United by 5.5% during the third quarter. Morgan Stanley now owns 191,553 shares of the company’s stock worth $4,310,000 after purchasing an additional 9,966 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Manchester United during the second quarter worth about $242,000. JPMorgan Chase & Co. raised its position in shares of Manchester United by 34,225.0% during the third quarter. JPMorgan Chase & Co. now owns 13,730 shares of the company’s stock worth $309,000 after purchasing an additional 13,690 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Manchester United during the first quarter worth about $317,000. Hedge funds and other institutional investors own 84.66% of the company’s stock.

Manchester United Company Profile

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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Earnings History and Estimates for Manchester United (NYSE:MANU)

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