Marcus (NYSE:MCS) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• Marcus shares crossed above their 200-day moving average, reaching $30.22 and last trading near $29.73, compared with a 200-day average of $20.14.
• Analysts became more bullish, with Benchmark raising its price target to $33 and MarketBeat reporting a consensus rating of “Moderate Buy” and an average target of $32.25.
• Marcus exceeded quarterly earnings and revenue expectations, while increasing its quarterly dividend from $0.08 to $0.09 per share, representing a 1.2% annualized yield.

Marcus Corporation (The) (NYSE:MCS - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $20.14 and traded as high as $30.22. Marcus shares last traded at $29.7260, with a volume of 343,914 shares traded.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Benchmark raised their price objective on Marcus from $22.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Weiss Ratings upgraded Marcus from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 13th. Barrington Research set a $33.00 target price on Marcus in a report on Monday, August 3rd. Zacks Research upgraded Marcus from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen raised Marcus from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Marcus has an average rating of "Moderate Buy" and a consensus price target of $32.25.

Marcus Stock Down 0.7%

The firm's fifty day simple moving average is $25.05 and its 200-day simple moving average is $20.14. The company has a market cap of $916.45 million, a PE ratio of 41.87 and a beta of 0.51. 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 issued its quarterly earnings data on Thursday, July 30th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.16. Marcus had a net margin of 2.87% and a return on equity of 2.67%. The business had revenue of $231.74 million during the quarter, compared to analysts' expectations of $217.72 million. As a group, equities research analysts expect that Marcus Corporation will post 0.81 earnings per share for the current fiscal year.

Marcus Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This is a positive change from Marcus's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.2%. Marcus's dividend payout ratio (DPR) is 45.07%.

Hedge Funds Weigh In On Marcus

A number of institutional investors have recently made changes to their positions in MCS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Marcus by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,849 shares of the company's stock valued at $231,000 after acquiring an additional 624 shares during the last quarter. Millennium Management LLC raised its stake in Marcus by 11.1% in the 1st quarter. Millennium Management LLC now owns 392,634 shares of the company's stock valued at $6,553,000 after purchasing an additional 39,118 shares during the last quarter. Empowered Funds LLC raised its stake in Marcus by 2.1% in the 1st quarter. Empowered Funds LLC now owns 172,745 shares of the company's stock valued at $2,883,000 after purchasing an additional 3,562 shares during the last quarter. Creative Planning lifted its holdings in Marcus by 50.6% in the 2nd quarter. Creative Planning now owns 15,270 shares of the company's stock valued at $257,000 after purchasing an additional 5,129 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted 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 valued at $4,908,000 after purchasing an additional 8,898 shares in the last quarter. 81.57% of the stock is owned by institutional investors and hedge funds.

About Marcus

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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