Thursday, October 29, 2020

The Marcus Corporation [MCS] is -69.00% lower this YTD. Is it still time to buy?

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The Marcus Corporation [NYSE: MCS] gained 9.57% or 0.86 points to close at $9.85 with a heavy trading volume of 4755501 shares. The company report on September 18, 2020 that The Marcus Corporation Announces Pricing of $87 Million Convertible Senior Notes Offering.

The Marcus Corporation (NYSE: MCS) (the “Company”) announced today that it priced $87 million aggregate principal amount of its 5.00% Convertible Senior Notes due 2025 (the “Notes”) in a private offering (the “Offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company has also granted the initial purchasers of the Notes an option to purchase, within a thirteen-day period beginning on, and including, the date the Company first issues the Notes, up to an additional approximately $13 million aggregate principal amount of the Notes. The Offering is expected to close on September 22, 2020, subject to customary closing conditions.

The Notes will be senior unsecured obligations of the Company and will bear interest at a rate of 5.00% per annum, payable semiannually in arrears on March 15 and September 15 of each year, beginning on March 15, 2021. The Notes will mature on September 15, 2025, unless earlier repurchased or converted, and the Company will not have the right to redeem the Notes prior to maturity. The initial conversion rate will be 90.8038 shares of the Company’s common stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $11.01 per share of common stock) and is subject to certain customary adjustments under the terms of the Notes. The initial conversion price of the Notes represents a premium of approximately 22.5% to the $8.99 last reported sale price of the Company’s common stock on The New York Stock Exchange on September 17, 2020. Prior to March 15, 2025, the Notes will be convertible at the option of the holders only during certain periods and upon satisfaction of certain conditions. On or after March 15, 2025, the Notes will be convertible at the option of the holders at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. Upon conversion, the Notes may be settled, at the Company’s election, in cash, shares of the Company’s common stock or a combination thereof.

It opened the trading session at $9.05, the shares rose to $9.895 and dropped to $8.95, the range by which the price of stock traded the whole day. The daily chart for MCS points out that the company has recorded -8.03% loss over the past six months. However, it is still -41.73% lower than its most recent low trading price.

If we look at the average trading volume of 405.69K shares, MCS reached to a volume of 4755501 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about The Marcus Corporation [MCS]:

B. Riley FBR have made an estimate for The Marcus Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 06, 2020. While these analysts kept the previous recommendation, The Benchmark Company raised their target price from $15 to $21. The new note on the price target was released on June 08, 2020, representing the official price target for The Marcus Corporation stock. On March 27, 2020, analysts decreased their price target for MCS shares from 37 to 20.

The Average True Range (ATR) for The Marcus Corporation is set at 1.09, with the Price to Sales ratio for MCS stock in the period of the last 12 months amounting to 0.48. The Price to Book ratio for the last quarter was 0.53, with the Price to Cash per share for the same quarter was set at 2.81.

Trading performance analysis for MCS stock

The Marcus Corporation [MCS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -25.66. With this latest performance, MCS shares dropped by -26.93% in over the last four-week period, additionally sinking by -8.03% over the last 6 months – not to mention a drop of -72.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MCS stock in for the last two-week period is set at 29.17, with the RSI for the last a single of trading hit 25.03, and the three-weeks RSI is set at 34.27 for The Marcus Corporation [MCS]. The present Moving Average for the last 50 days of trading for this stock 14.22, while it was recorded at 11.90 for the last single week of trading, and 19.07 for the last 200 days.

The Marcus Corporation [MCS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and The Marcus Corporation [MCS] shares currently have an operating margin of +8.54 and a Gross Margin at +31.33. The Marcus Corporation’s Net Margin is presently recorded at +5.12.

Return on Total Capital for MCS is now 7.52, given the latest momentum, and Return on Invested Capital for the company is 4.61. Return on Equity for this stock inclined to 7.56, with Return on Assets sitting at 3.58. When it comes to the capital structure of this company, The Marcus Corporation [MCS] has a Total Debt to Total Equity ratio set at 78.07. Additionally, MCS Total Debt to Total Capital is recorded at 43.84, with Total Debt to Total Assets ending up at 35.69. Long-Term Debt to Equity for the company is recorded at 73.92, with the Long-Term Debt to Total Capital now at 41.51.

Reflecting on the efficiency of the workforce at the company, The Marcus Corporation [MCS] managed to generate an average of $4,002 per employee. Receivables Turnover for the company is 24.49 with a Total Asset Turnover recorded at a value of 0.70.The Marcus Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

The Marcus Corporation [MCS]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, The Marcus Corporation posted 0.46/share EPS, while the average EPS was predicted by analysts to be reported at 0.55/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -16.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MCS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Marcus Corporation go to 15.00%.

An analysis of insider ownership at The Marcus Corporation [MCS]

There are presently around $191 million, or 85.40% of MCS stock, in the hands of institutional investors. The top three institutional holders of MCS stocks are: BLACKROCK INC. with ownership of 3,569,402, which is approximately -1.723% of the company’s market cap and around 3.10% of the total institutional ownership; DIMENSIONAL FUND ADVISORS LP, holding 1,668,895 shares of the stock with an approximate value of $16.44 million in MCS stocks shares; and VANGUARD GROUP INC, currently with $15.03 million in MCS stock with ownership of nearly -0.197% of the company’s market capitalization.

Positions in The Marcus Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 70 institutional holders increased their position in The Marcus Corporation [NYSE:MCS] by around 1,901,743 shares. Additionally, 70 investors decreased positions by around 2,851,194 shares, while 25 investors held positions by with 14,655,520 shares. The mentioned changes placed institutional holdings at 19,408,457 shares, according to the latest SEC report filing. MCS stock had 19 new institutional investments in for a total of 454,243 shares, while 27 institutional investors sold positions of 1,637,555 shares during the same period.

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