Marcus Corp. (MCS) Rating Increased to Buy at Zacks Investment Research
Marcus Corp. (NYSE:MCS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $28.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 11.29% from the company’s current price.
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. “
Other equities research analysts also recently issued reports about the stock. Benchmark Co. upped their price objective on shares of Marcus Corp. from $26.11 to $28.19 and gave the stock a “buy” rating in a research report on Monday, September 26th. B. Riley reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Marcus Corp. in a research report on Tuesday, August 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $29.30.
Marcus Corp. (NYSE:MCS) opened at 25.16 on Friday. Marcus Corp. has a one year low of $17.44 and a one year high of $25.63. The stock’s 50 day moving average is $24.05 and its 200 day moving average is $21.39. The company has a market capitalization of $693.38 million, a PE ratio of 16.36 and a beta of 0.65.
Marcus Corp. (NYSE:MCS) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business earned $134 million during the quarter, compared to the consensus estimate of $129.43 million. During the same period in the prior year, the firm posted $0.32 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that Marcus Corp. will post $1.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders 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 dividend yield of 1.79%. The ex-dividend date was Tuesday, August 23rd. Marcus Corp.’s dividend payout ratio is currently 36.00%.
In other news, Director Philip L. Milstein sold 4,000 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $24.29, for a total transaction of $97,160.00. Following the completion of the transaction, the director now directly owns 80,213 shares of the company’s stock, valued at approximately $1,948,373.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Douglas A. Neis sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $22.97, for a total transaction of $57,425.00. Following the transaction, the chief financial officer now directly owns 51,002 shares of the company’s stock, valued at $1,171,515.94. The disclosure for this sale can be found here. Insiders own 33.75% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCS. BNP Paribas Arbitrage SA increased its position 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 shares of Marcus Corp. during the first quarter worth approximately $174,000. Arizona State Retirement System acquired a new stake in shares of Marcus Corp. during the second quarter worth approximately $206,000. BlackRock Inc. boosted its stake in shares of 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 during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Marcus Corp. during the second quarter worth approximately $251,000. 55.93% of the stock is owned by hedge funds and other institutional investors.
Marcus Corp. Company Profile
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.
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