MANU - Manchester United: More Reliance On 'Off-Game' Performance Could Hamper Growth Potential
Manchester United (MANU) recently reported earnings for Q3 2019. The company recorded year-over-year improvement in both top-line revenues and bottom-line earnings, despite having a ‘devastated’ season in the PL (Premier League) and UCL (UEFA Champions League).
While being faced with numerous challenges on the operational level, MANU is trying to secure business growth through ‘off-game’ revenue streams. The stock looks technically fit to witness some gains at this point (emanating largely from the healthy Q3 financial results). Nevertheless, the company’s EPS does not justify its high P/E ratio of ~150x. In terms of