Manchester United’s (MANU) Buy Rating Reiterated at Deutsche Bank AG
Manchester United Ltd. (NYSE:MANU)‘s stock had its “buy” rating restated by investment analysts at Deutsche Bank AG in a report released on Monday. They presently have a $20.00 price objective on the stock, up from their previous price objective of $19.00. Deutsche Bank AG’s target price points to a potential upside of 15.61% from the stock’s previous close.
Other analysts also recently issued reports about the company. BidaskClub upgraded Manchester United from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and set a $19.00 target price on shares of Manchester United in a research report on Friday, July 14th. Finally, Zacks Investment Research upgraded Manchester United from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $20.60.
Manchester United (NYSE:MANU) last released its earnings results on Thursday, September 21st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Manchester United had a return on equity of 7.50% and a net margin of 6.74%. The business had revenue of $175.90 million during the quarter, compared to the consensus estimate of $160.47 million. During the same period last year, the company earned $0.05 earnings per share. The business’s revenue for the quarter was up 30.8% compared to the same quarter last year.
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Several hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC bought a new stake in shares of Manchester United in the second quarter valued at about $19,144,000. Renaissance Technologies LLC raised its holdings in shares of Manchester United by 2.1% in the first quarter. Renaissance Technologies LLC now owns 390,700 shares of the company’s stock valued at $6,603,000 after acquiring an additional 8,000 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Manchester United by 6.1% in the second quarter. Alliancebernstein L.P. now owns 333,050 shares of the company’s stock valued at $5,412,000 after acquiring an additional 19,290 shares in the last quarter. Morgan Stanley raised its holdings in shares of Manchester United by 1.1% in the first quarter. Morgan Stanley now owns 177,295 shares of the company’s stock valued at $2,997,000 after acquiring an additional 1,868 shares in the last quarter. Finally, Norman Fields Gottscho Capital Management LLC raised its holdings in shares of Manchester United by 9.7% in the second quarter. Norman Fields Gottscho Capital Management LLC now owns 177,150 shares of the company’s stock valued at $2,879,000 after acquiring an additional 15,625 shares in the last quarter. Hedge funds and other institutional investors own 72.26% of the company’s stock.
Manchester United Company Profile
Manchester United plc is engaged in the operation of a professional football club together with related and ancillary activities. Its football operations primarily comprise various activities, such as its first team, reserve team, youth academy, global scouting networks and other operations, such as its sport science, medical and fitness operations at the Aon Training Complex.
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