The Madison Square Garden Company (NYSE:MSGS) Receives Consensus Rating of “Hold” from Brokerages

Shares of The Madison Square Garden Company (NYSE:MSGS) have been given a consensus recommendation of “Hold” by the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $261.3333.

A number of brokerages have issued reports on MSGS. Guggenheim reissued a “buy” rating on shares of Madison Square Garden in a research report on Thursday. Zacks Research upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Citigroup increased their target price on Madison Square Garden from $285.00 to $290.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Wolfe Research downgraded Madison Square Garden from an “outperform” rating to a “hold” rating in a research report on Monday, December 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Madison Square Garden from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd.

Madison Square Garden Price Performance

Shares of MSGS stock opened at $274.75 on Friday. Madison Square Garden has a 1-year low of $173.26 and a 1-year high of $298.97. The firm has a market cap of $6.60 billion, a PE ratio of -280.36 and a beta of 0.61. The company has a 50-day moving average of $259.44 and a two-hundred day moving average of $228.58.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The firm had revenue of $403.42 million for the quarter, compared to analyst estimates of $394.58 million. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. Sell-side analysts anticipate that Madison Square Garden will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Madison Square Garden

Several institutional investors have recently modified their holdings of MSGS. Norges Bank acquired a new stake in shares of Madison Square Garden in the second quarter valued at $39,215,000. Bollard Group LLC acquired a new stake in Madison Square Garden in the 2nd quarter valued at about $25,283,000. Scopus Asset Management L.P. acquired a new stake in Madison Square Garden in the 2nd quarter valued at about $14,787,000. SG Americas Securities LLC boosted its stake in shares of Madison Square Garden by 1,021.4% in the 2nd quarter. SG Americas Securities LLC now owns 48,333 shares of the company’s stock valued at $10,099,000 after buying an additional 44,023 shares during the period. Finally, Bank of Nova Scotia grew its position in shares of Madison Square Garden by 215.0% during the second quarter. Bank of Nova Scotia now owns 56,400 shares of the company’s stock worth $11,785,000 after buying an additional 38,497 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Company Profile

Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA’s New York Knicks, the NHL’s New York Rangers and the WNBA’s New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.