Marcus Corp. (MCS) Lowered to “Hold” at Zacks Investment Research
Marcus Corp. (NYSE:MCS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “The Marcus Corporation engages in the lodging and entertainment industries. It operates through two segments: Movie Theatres, and Hotels and Resorts. The Company’s movie theatre division owns or manages screens at locations in several states, as well as a family entertainment center. Marcus’ lodging division owns or manages hotels and resorts in several states, as well as a vacation club. It also provides hospitality management services, including check-in, housekeeping, and maintenance for a vacation ownership development. The Marcus Corporation is headquartered in Milwaukee, Wisconsin. “
A number of other research analysts also recently issued reports on MCS. B. Riley reissued a “buy” rating and set a $25.50 price objective on shares of Marcus Corp. in a research report on Thursday, August 4th. Benchmark Co. boosted their price objective on shares of Marcus Corp. from $25.24 to $26.11 and gave the company a “buy” rating in a research report on Friday, July 29th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $29.30.
Marcus Corp. (NYSE:MCS) opened at 25.16 on Wednesday. Marcus Corp. has a 52-week low of $17.44 and a 52-week high of $25.49. The company has a market capitalization of $693.38 million, a price-to-earnings ratio of 16.36 and a beta of 0.66. The company’s 50 day moving average is $23.83 and its 200-day moving average is $21.21.
Marcus Corp. (NYSE:MCS) last issued its earnings results on Thursday, July 28th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Marcus Corp. had a net margin of 6.55% and a return on equity of 9.45%. The company had revenue of $134 million for the quarter, compared to the consensus estimate of $129.43 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities analysts anticipate that Marcus Corp. will post $1.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th were given a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, August 23rd. Marcus Corp.’s payout ratio is currently 36.00%.
In other news, CFO Douglas A. Neis sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $22.97, for a total value of $57,425.00. Following the sale, the chief financial officer now directly owns 51,002 shares of the company’s stock, valued at approximately $1,171,515.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Philip L. Milstein sold 4,000 shares of the company’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $24.29, for a total transaction of $97,160.00. Following the completion of the sale, the director now directly owns 80,213 shares in the company, valued at $1,948,373.77. The disclosure for this sale can be found here. Company insiders own 33.75% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in Marcus Corp. by 114.1% in the second quarter. BNP Paribas Arbitrage SA now owns 5,818 shares of the company’s stock worth $123,000 after buying an additional 3,100 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Marcus Corp. during the first quarter worth $174,000. Arizona State Retirement System acquired a new stake in Marcus Corp. during the second quarter worth $206,000. BlackRock Inc. increased its stake in Marcus Corp. by 615.1% in the second quarter. BlackRock Inc. now owns 10,090 shares of the company’s stock worth $213,000 after buying an additional 8,679 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Marcus Corp. during the second quarter worth $251,000. 55.93% of the stock is currently owned by hedge funds and other institutional investors.
About Marcus Corp.
The Marcus Corporation owns and operates movie theatres, and hotels and resorts. The Company operates through two business segments: movie theatres, and hotels and resorts. Its theatre operations include around 55 movie theatres with around 681 screens throughout Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio, including two movie theatres with 11 screens in Wisconsin and Nebraska owned by third parties and managed by it.
Receive News & Stock Ratings for Marcus Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marcus Corp. and related stocks with our FREE daily email newsletter.