The Madison Square Garden Company (NYSE:MSGS) Receives $471.20 Average PT from Analysts

The Madison Square Garden Company (NYSE:MSGS) has been given a consensus rating of “Hold” by the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $471.20.

MSGS has been the topic of several research analyst reports. Citigroup boosted their target price on Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Susquehanna raised their price target on Madison Square Garden from $430.00 to $477.00 and gave the stock a “positive” rating in a research note on Friday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of Madison Square Garden from $450.00 to $485.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Seaport Research Partners boosted their price objective on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Finally, Guggenheim upped their price objective on shares of Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a report on Friday, August 14th.

Madison Square Garden Stock Down 0.9%

Shares of MSGS opened at $402.36 on Thursday. The stock has a market capitalization of $9.69 billion, a P/E ratio of 1,341.26 and a beta of 0.62. The firm has a fifty day simple moving average of $392.08 and a two-hundred day simple moving average of $353.03. Madison Square Garden has a twelve month low of $193.87 and a twelve month high of $438.93.

Madison Square Garden (NYSE:MSGS) last posted its earnings results on Wednesday, August 12th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.52. The company had revenue of $278.75 million during the quarter, compared to analyst estimates of $227.67 million. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. Madison Square Garden’s revenue for the quarter was up 36.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) earnings per share. Sell-side analysts expect that Madison Square Garden will post -0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Madison Square Garden

Several hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new position in shares of Madison Square Garden in the 4th quarter worth about $26,000. Caitong International Asset Management Co. Ltd grew its position in Madison Square Garden by 67.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock valued at $32,000 after purchasing an additional 49 shares during the last quarter. SJS Investment Consulting Inc. increased its stake in Madison Square Garden by 488.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock valued at $32,000 after purchasing an additional 83 shares in the last quarter. Global Retirement Partners LLC increased its stake in Madison Square Garden by 1,150.0% during the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in Madison Square Garden by 33.1% in the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after buying an additional 39 shares during the last quarter. Institutional investors 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.