Manchester United PLC (MANU) is Initiated by Gabelli & Co to Buy, Price Target at $23.40

Manchester United PLC (MANU) was Initiated by Gabelli & Co to “Buy” and the brokerage firm has set the Price Target at $23.40. Gabelli & Co advised their investors in a research report released on Oct 17, 2016.

On the company’s financial health, Manchester United PLC reported $0.053 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Sep 12, 2016. Analyst had a consensus of $0.06. The company had revenue of $134.50 million for the quarter, compared to analysts expectations of $127.09 million. The company’s revenue was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS.

Manchester United PLC opened for trading at $15.58 and hit $15.98 on the upside on Friday, eventually ending the session at $15.86, with a gain of 2.12% or 0.33 points. The heightened volatility saw the trading volume jump to 33,302 shares. Company has a market cap of $2,601 M.

Manchester United plc formerly Manchester United Ltd. operates a professional sports team. The Company plays spectator sports. It offers its services in commercial broadcasting and matchday sectors. Within the commercial sector it is engaged in sponsorship; retail merchandising apparel and product licensing and mobile and content. It markets and sells sports apparel training and leisure wear and other clothing under the Manchester United brand across the globe. Its broadcasting sector is engaged in the distribution of live football content. Its television channel MUTV delivers Manchester United programming to over 90 countries. Matchday sector includes domestic and European football match day activities from Manchester United games at Old Trafford the Manchester United football stadium along with receipts for domestic cup such as the Football League Cup sponsored by Capital One (the League Cup) and the Emirates FA Cup (the FA Cup) and games not played at Old Trafford.

Manchester United PLC

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