Marcus Corporation (The) (NYSE:MCS) to Issue Dividend Increase - $0.09 Per Share

Key Points

• Marcus raised its quarterly dividend 12.5% to $0.09 per share from $0.08. Shareholders of record on August 25 will receive payment on September 15, representing an annualized yield of approximately 1.2%.
• The dividend appears well covered, with a current payout ratio of 47.8%; analysts expect next year’s earnings to support a projected payout ratio of 23.4%.
• Marcus reported quarterly EPS of $0.51, beating estimates of $0.35, while revenue of $231.74 million exceeded expectations of $217.72 million. Institutional investors own approximately 81.57% of the company.

Marcus Corporation (The) (NYSE:MCS - Get Free Report) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Tuesday, August 25th will be paid a dividend of 0.09 per share on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, August 25th. This is a 12.5% increase from Marcus's previous quarterly dividend of $0.08.

Marcus has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 2 years. Marcus has a payout ratio of 47.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Marcus to earn $1.37 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 23.4%.

Marcus Price Performance

Shares of NYSE MCS opened at $31.01 on Wednesday. Marcus has a twelve month low of $12.85 and a twelve month high of $32.42. The firm has a market cap of $953.06 million, a P/E ratio of 43.68, a PEG ratio of 2.92 and a beta of 0.51. The company has a 50 day moving average of $23.01 and a 200 day moving average of $19.13. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.34.

Marcus (NYSE:MCS - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.16. Marcus had a return on equity of 2.67% and a net margin of 2.87%.The business had revenue of $231.74 million for the quarter, compared to analysts' expectations of $217.72 million. As a group, research analysts expect that Marcus will post 0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Marcus

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Marcus by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,849 shares of the company's stock worth $231,000 after buying an additional 624 shares in the last quarter. Millennium Management LLC lifted its position in shares of Marcus by 11.1% during the 1st quarter. Millennium Management LLC now owns 392,634 shares of the company's stock valued at $6,553,000 after buying an additional 39,118 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Marcus by 2.1% during the 1st quarter. Empowered Funds LLC now owns 172,745 shares of the company's stock valued at $2,883,000 after acquiring an additional 3,562 shares during the period. Creative Planning increased its holdings in Marcus by 50.6% in the 2nd quarter. Creative Planning now owns 15,270 shares of the company's stock worth $257,000 after acquiring an additional 5,129 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Marcus by 3.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 291,082 shares of the company's stock worth $4,908,000 after acquiring an additional 8,898 shares in the last quarter. 81.57% of the stock is currently owned by hedge funds and other institutional investors.

Marcus Company Profile

The Marcus Corporation, together with its subsidiaries, owns and operates movie theatres, and hotels and resorts in the United States. It operates a family entertainment center and multiscreen motion picture theatres under the Big Screen Bistro, Big Screen Bistro Express, BistroPlex, and Movie Tavern by Marcus brand names. The company also owns and operates full-service hotels and resorts, as well as manages full-service hotels, resorts, and other properties. In addition, it provides hospitality management services, including check-in, housekeeping, and maintenance for a vacation ownership development; and manages condominium hotels under long-term management contracts.

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