Madison Square Garden Sports (NYSE:MSGS) Issues Earnings Results

Madison Square Garden Sports (NYSE:MSGS) released its quarterly earnings results on Tuesday. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.25), Zacks reports. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The firm had revenue of $357.80 million for the quarter, compared to analysts’ expectations of $352.68 million. During the same period in the previous year, the company posted $0.59 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year.

Madison Square Garden Sports Price Performance

Shares of NYSE:MSGS opened at $210.60 on Wednesday. The business’s 50-day moving average is $222.97 and its 200 day moving average is $214.96. Madison Square Garden Sports has a 1 year low of $178.35 and a 1 year high of $237.99. The firm has a market capitalization of $5.04 billion, a P/E ratio of 72.37 and a beta of 0.91.

Analyst Upgrades and Downgrades

Separately, Macquarie raised their target price on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th.

Madison Square Garden Sports Company Profile

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.