Madison Square Garden (NYSE:MSG) PT Raised to $360.00 at Imperial Capital

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Madison Square Garden (NYSE:MSG) had its price target increased by investment analysts at Imperial Capital from $357.00 to $360.00 in a report issued on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the stock. Imperial Capital’s price target would suggest a potential upside of 30.54% from the company’s current price.

MSG has been the topic of several other research reports. Morgan Stanley dropped their price target on Madison Square Garden from $340.00 to $320.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. ValuEngine lowered Madison Square Garden from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Guggenheim set a $350.00 target price on Madison Square Garden and gave the stock a “buy” rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Madison Square Garden presently has an average rating of “Buy” and a consensus price target of $343.75.

NYSE:MSG opened at $275.77 on Wednesday. The company has a 50-day moving average of $272.49 and a 200-day moving average of $277.86. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 574.52 and a beta of 0.56. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.10. Madison Square Garden has a twelve month low of $240.33 and a twelve month high of $315.95.

Madison Square Garden (NYSE:MSG) last released its earnings results on Friday, November 8th. The company reported ($3.36) EPS for the quarter, missing analysts’ consensus estimates of ($2.29) by ($1.07). Madison Square Garden had a negative return on equity of 1.38% and a negative net margin of 2.23%. The business had revenue of $214.78 million during the quarter, compared to the consensus estimate of $227.52 million. During the same quarter in the previous year, the firm earned ($1.36) earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, research analysts forecast that Madison Square Garden will post -0.8 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of MSG. Vanguard Group Inc. increased its position in shares of Madison Square Garden by 0.3% in the second quarter. Vanguard Group Inc. now owns 1,602,586 shares of the company’s stock worth $448,627,000 after acquiring an additional 4,972 shares in the last quarter. BlackRock Inc. lifted its position in shares of Madison Square Garden by 8.4% in the 2nd quarter. BlackRock Inc. now owns 1,044,764 shares of the company’s stock valued at $292,473,000 after acquiring an additional 80,714 shares in the last quarter. Atalan Capital Partners LP lifted its position in shares of Madison Square Garden by 33.3% in the 2nd quarter. Atalan Capital Partners LP now owns 319,900 shares of the company’s stock valued at $89,553,000 after acquiring an additional 79,900 shares in the last quarter. State Street Corp boosted its stake in Madison Square Garden by 4.5% in the 3rd quarter. State Street Corp now owns 244,210 shares of the company’s stock worth $64,354,000 after purchasing an additional 10,537 shares during the period. Finally, UBS Group AG boosted its stake in Madison Square Garden by 19.9% in the 2nd quarter. UBS Group AG now owns 200,268 shares of the company’s stock worth $56,063,000 after purchasing an additional 33,288 shares during the period. 70.48% of the stock is owned by 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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