Madison Square Garden (NYSE:MSGS) Issues Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Madison Square Garden (NYSE:MSGS) released its quarterly earnings data on Friday. The company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.20), FiscalAI reports. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The company had revenue of $45.49 million during the quarter, compared to analysts’ expectations of $40.67 million.

Madison Square Garden Stock Performance

Shares of NYSE:MSGS opened at $387.25 on Friday. The company has a 50 day moving average price of $396.32 and a two-hundred day moving average price of $361.33. Madison Square Garden has a 52 week low of $207.90 and a 52 week high of $438.93. The company has a market capitalization of $9.32 billion, a PE ratio of 1,290.87 and a beta of 0.62.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MSGS. Guggenheim lifted their target price on shares of Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Wall Street Zen raised Madison Square Garden from a “sell” rating to a “hold” rating in a research note on Sunday, August 23rd. Susquehanna upped their price target on Madison Square Garden from $430.00 to $477.00 and gave the stock a “positive” rating in a report on Friday, August 14th. Weiss Ratings upgraded Madison Square Garden from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Finally, Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Madison Square Garden has a consensus rating of “Moderate Buy” and an average price target of $471.20.

About Madison Square Garden

Madison Square Garden Sports Corp. (NYSE: MSGS) is a sports and entertainment company that owns and operates professional sports franchises. Its principal assets include the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League. The company also owns the NBA G League’s Westchester Knicks and operates team-related businesses involving ticketing, sponsorships, media rights, merchandising and licensing.

Through its teams and related commercial activities, Madison Square Garden Sports serves fans primarily in the New York metropolitan area while reaching national and international audiences through league broadcasts, digital media, live events and branded merchandise.