Manchester United (NYSE:MANU) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Manchester United (NYSE:MANU) from a hold rating to a strong sell rating in a report released on Wednesday morning, Zacks.com reports.

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, TheStreet downgraded shares of Manchester United from a c- rating to a d rating in a report on Monday, June 21st.

NYSE MANU opened at $19.97 on Wednesday. The company has a market cap of $864.44 million, a PE ratio of -133.12 and a beta of 0.95. Manchester United has a 52 week low of $13.28 and a 52 week high of $20.22. The company has a quick ratio of 0.50, a current ratio of 0.51 and a debt-to-equity ratio of 1.23. The firm’s 50-day simple moving average is $16.99 and its two-hundred day simple moving average is $16.50.

Manchester United (NYSE:MANU) last released its quarterly earnings data on Thursday, September 16th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.06). The business had revenue of $94.00 million for the quarter, compared to analysts’ expectations of $104.47 million. Manchester United had a negative net margin of 4.06% and a negative return on equity of 13.77%. Manchester United’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company earned ($0.27) earnings per share. As a group, equities research analysts anticipate that Manchester United will post -0.31 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Manchester United in the first quarter worth about $54,000. New York State Common Retirement Fund purchased a new stake in shares of Manchester United in the first quarter worth about $56,000. Barclays PLC purchased a new stake in shares of Manchester United in the first quarter worth about $87,000. Legal & General Group Plc raised its stake in Manchester United by 83.6% in the second quarter. Legal & General Group Plc now owns 8,626 shares of the company’s stock valued at $131,000 after purchasing an additional 3,929 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Manchester United by 19.7% in the second quarter. Royal Bank of Canada now owns 9,896 shares of the company’s stock valued at $150,000 after purchasing an additional 1,628 shares in the last quarter. 84.16% of the stock is currently owned by hedge funds and other institutional investors.

About Manchester United

Manchester United Plc engages in the operation of a professional football club. It operates through the following principal sectors: Commercial, Broadcasting, and Matchday. The Commercial sector engages in sponsorship, retail, merchandising, apparel and product licensing, and new media and mobile. The Broadcasting sector engages in the distribution and broadcasting of live football content directly and indirectly through increased global exposure for their commercial partners.

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