Marcus Corp. (MCS) to Issue Quarterly Dividend of $0.11 on December 15th
Marcus Corp. (NYSE:MCS) announced a quarterly dividend on Wednesday, November 16th. Stockholders of record on Monday, November 28th will be given a dividend of 0.1125 per share on Thursday, December 15th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Wednesday, November 23rd.
Shares of Marcus Corp. (NYSE:MCS) opened at 28.45 on Friday. The stock has a 50 day moving average price of $25.89 and a 200-day moving average price of $22.73. Marcus Corp. has a 1-year low of $17.44 and a 1-year high of $29.10. The stock has a market capitalization of $786.10 million, a PE ratio of 17.12 and a beta of 0.39.
Marcus Corp. (NYSE:MCS) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.09. Marcus Corp. had a return on equity of 9.20% and a net margin of 6.55%. The company earned $144.70 million during the quarter, compared to analysts’ expectations of $526.63 million. The company’s revenue was up 8.1% on a year-over-year basis. On average, analysts forecast that Marcus Corp. will post $1.32 earnings per share for the current year.
A number of equities analysts recently issued reports on MCS shares. Zacks Investment Research upgraded Marcus Corp. from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Wednesday, September 28th. Wedbush reaffirmed an “outperform” rating on shares of Marcus Corp. in a research report on Wednesday. Benchmark Co. lifted their target price on Marcus Corp. from $26.11 to $28.19 and gave the company a “buy” rating in a research report on Monday, September 26th. Finally, B. Riley reaffirmed a “buy” rating and set a $31.00 target price on shares of Marcus Corp. in a research report on Wednesday, October 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Marcus Corp. presently has a consensus rating of “Buy” and an average price target of $29.55.
In other news, Director Philip L. Milstein sold 4,000 shares of the business’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $24.29, for a total value 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 filing with the SEC, which is available at this hyperlink. 33.75% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its position in Marcus Corp. by 42.1% in the third quarter. Teachers Advisors LLC now owns 46,005 shares of the company’s stock valued at $1,152,000 after buying an additional 13,621 shares during the last quarter. BlackRock Advisors LLC raised its position in Marcus Corp. by 10.7% in the third quarter. BlackRock Advisors LLC now owns 10,188 shares of the company’s stock valued at $255,000 after buying an additional 981 shares during the last quarter. Arizona State Retirement System bought a new position in Marcus Corp. during the second quarter valued at approximately $206,000. AQR Capital Management LLC raised its position in Marcus Corp. by 6.0% in the second quarter. AQR Capital Management LLC now owns 27,342 shares of the company’s stock valued at $577,000 after buying an additional 1,556 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in Marcus Corp. by 5.9% in the second quarter. Panagora Asset Management Inc. now owns 150,217 shares of the company’s stock valued at $3,170,000 after buying an additional 8,335 shares during the last quarter. 55.67% 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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