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Manchester United (MANU) Moves 6.7% Higher: Will This Strength Last?
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Manchester United (MANU - Free Report) shares ended the last trading session 6.7% higher at $25.62. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.5% gain over the past four weeks.
Shares of Manchester United appreciated on the back of increased bidding offers for the football club takeover. Per the Bloomberg report, Qatari consortium is expected to raise its initial debt-free offer from £4.5 billion to $5.5 billion. According to The Financial Times, Sir Jim Ratcliffe is likely to revise its offer to more than $5 Billion (including debt component). With a tentative deadline on Mar 23, the deals are subject to approval by the owners The Glazer family.
This soccer club is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of -116.7%. Revenues are expected to be $170.8 million, down 31.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Manchester United, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MANU going forward to see if this recent jump can turn into more strength down the road.
Manchester United is a member of the Zacks Leisure and Recreation Services industry. One other stock in the same industry, Madison Square Garden Entertainment (MSGE - Free Report) , finished the last trading session 4.3% lower at $52.71. MSGE has returned -7.8% over the past month.
For Madison Square Garden Entertainment, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.39. This represents a change of -34.5% from what the company reported a year ago. Madison Square Garden Entertainment currently has a Zacks Rank of #1 (Strong Buy).
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Manchester United (MANU) Moves 6.7% Higher: Will This Strength Last?
Manchester United (MANU - Free Report) shares ended the last trading session 6.7% higher at $25.62. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.5% gain over the past four weeks.
Shares of Manchester United appreciated on the back of increased bidding offers for the football club takeover. Per the Bloomberg report, Qatari consortium is expected to raise its initial debt-free offer from £4.5 billion to $5.5 billion. According to The Financial Times, Sir Jim Ratcliffe is likely to revise its offer to more than $5 Billion (including debt component). With a tentative deadline on Mar 23, the deals are subject to approval by the owners The Glazer family.
This soccer club is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of -116.7%. Revenues are expected to be $170.8 million, down 31.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Manchester United, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MANU going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Manchester United is a member of the Zacks Leisure and Recreation Services industry. One other stock in the same industry, Madison Square Garden Entertainment (MSGE - Free Report) , finished the last trading session 4.3% lower at $52.71. MSGE has returned -7.8% over the past month.
For Madison Square Garden Entertainment, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.39. This represents a change of -34.5% from what the company reported a year ago. Madison Square Garden Entertainment currently has a Zacks Rank of #1 (Strong Buy).