Marcus Corporation (The) (NYSE:MCS) Raises Dividend to $0.09 Per Share

Marcus Corporation (The) (NYSE:MCS) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Tuesday, August 25th will be given a dividend of 0.09 per share on Tuesday, September 15th. This represents a c) annualized dividend and a 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 raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Marcus has a dividend payout ratio of 47.8% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

MCS stock opened at $31.01 on Wednesday. The company has a 50-day simple moving average of $23.01 and a 200 day simple moving average of $19.13. The company has a market capitalization 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 quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.34. Marcus has a fifty-two week low of $12.85 and a fifty-two week high of $32.42.

Marcus (NYSE:MCS) last released its earnings results on Thursday, July 30th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.35 by $0.16. Marcus had a net margin of 2.87% and a return on equity of 2.67%. The firm had revenue of $231.74 million for the quarter, compared to analysts’ expectations of $217.72 million. Sell-side analysts predict that Marcus will post 0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marcus

Several large investors have recently made changes to their positions in the business. Saber Capital Managment LLC acquired a new position in shares of Marcus in the 4th quarter worth approximately $7,836,000. Pacific Ridge Capital Partners LLC acquired a new stake in Marcus during the fourth quarter valued at approximately $2,594,000. Bastion Asset Management Inc. boosted its holdings in Marcus by 70.1% during the fourth quarter. Bastion Asset Management Inc. now owns 374,612 shares of the company’s stock worth $5,716,000 after buying an additional 154,439 shares in the last quarter. Orbis Allan Gray Ltd boosted its holdings in Marcus by 7.9% during the fourth quarter. Orbis Allan Gray Ltd now owns 1,915,765 shares of the company’s stock worth $29,714,000 after buying an additional 141,064 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in Marcus by 332.2% in the second quarter. Squarepoint Ops LLC now owns 162,193 shares of the company’s stock worth $2,735,000 after buying an additional 124,664 shares during the last quarter. Institutional investors own 81.57% of the company’s stock.

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.