Madison Square Garden Co (MSG) Receives $333.14 Consensus Target Price from Analysts

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Shares of Madison Square Garden Co (NYSE:MSG) have earned a consensus rating of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $344.00.

MSG has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on Madison Square Garden from $315.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 31st. Zacks Investment Research raised Madison Square Garden from a “hold” rating to a “buy” rating and set a $316.00 price objective on the stock in a research report on Wednesday, October 24th. Imperial Capital initiated coverage on Madison Square Garden in a research report on Tuesday, August 21st. They set an “outperform” rating and a $372.00 price objective on the stock. Guggenheim increased their target price on Madison Square Garden to $350.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. Finally, Macquarie reissued a “buy” rating and issued a $356.00 target price on shares of Madison Square Garden in a report on Tuesday, October 30th.

Shares of Madison Square Garden stock traded down $1.46 during trading hours on Monday, reaching $271.04. 255,978 shares of the company were exchanged, compared to its average volume of 346,197. Madison Square Garden has a 1 year low of $205.22 and a 1 year high of $330.00. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $6.57 billion, a P/E ratio of 45.63, a P/E/G ratio of 14.64 and a beta of 0.70.

Madison Square Garden (NYSE:MSG) last posted its quarterly earnings data on Thursday, November 1st. The company reported ($1.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.13) by $0.77. Madison Square Garden had a return on equity of 0.27% and a net margin of 7.86%. The business had revenue of $218.14 million for the quarter, compared to analyst estimates of $211.48 million. During the same quarter in the prior year, the company earned ($0.47) earnings per share. The company’s revenue was down 11.0% on a year-over-year basis. Sell-side analysts predict that Madison Square Garden will post 0.74 earnings per share for the current year.

A number of large investors have recently bought and sold shares of MSG. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Madison Square Garden during the second quarter worth about $118,000. Sageworth Trust Co grew its holdings in shares of Madison Square Garden by 1,257.5% during the third quarter. Sageworth Trust Co now owns 543 shares of the company’s stock worth $171,000 after purchasing an additional 503 shares during the last quarter. Massey Quick Simon & CO. LLC purchased a new position in shares of Madison Square Garden during the second quarter worth about $206,000. Investment House LLC purchased a new position in shares of Madison Square Garden during the second quarter worth about $225,000. Finally, CIBC World Markets Inc. purchased a new position in shares of Madison Square Garden during the first quarter worth about $231,000. 70.40% of the stock is currently owned by hedge funds and other institutional investors.

About Madison Square Garden

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

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Analyst Recommendations for Madison Square Garden (NYSE:MSG)

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