MSG Knickerbockers (NYSE:MSGK) Releases Quarterly Earnings Results, Misses Estimates By $0.11 EPS

MSG Knickerbockers (NYSE:MSGK) issued its quarterly earnings data on Friday. The company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.18) by ($0.11), Zacks reports. MSG Knickerbockers had a net margin of 0.67% and a negative return on equity of 3.47%. The business had revenue of $45.49 million during the quarter, compared to analyst estimates of $39.78 million. The company’s revenue was up 15.2% on a year-over-year basis.

MSG Knickerbockers Price Performance

MSG Knickerbockers stock opened at $310.21 on Friday. MSG Knickerbockers has a one year low of $210.90 and a one year high of $438.93. The stock has a market cap of $7.47 billion, a PE ratio of -500.33 and a beta of 0.63.

Trending Headlines about MSG Knickerbockers

Here are the key news stories impacting MSG Knickerbockers this week:

• Positive Sentiment: Revenue was $45.5 million, above FactSet’s $39.3 million estimate, and increased 15.2% year over year. The company also reported a narrower operating loss. Revenue estimate report
• Positive Sentiment: Wolfe Research raised its rating on MSGK to Outperform, a potentially supportive analyst signal. Wolfe Research rating report
• Neutral Sentiment: The quarter ended September 30, and its consolidated results include the Rangers business; MSGK completed the Rangers spin-off on October 26. This makes the reported quarter less directly comparable with future results. Company earnings release
• Negative Sentiment: MSGK reported a loss of $1.29 per share, missing the $1.18 loss analysts expected. The loss was also wider than the $0.37 per-share loss a year earlier, which could outweigh the revenue beat for investors. Zacks earnings report

Analyst Ratings Changes

Several analysts have commented on MSGK shares. Guggenheim dropped their target price on shares of MSG Knickerbockers from $584.00 to $445.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Zacks Research cut shares of MSG Knickerbockers from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. Weiss Ratings began coverage on shares of MSG Knickerbockers in a research report on Wednesday, October 28th. They set a “hold (c)” rating for the company. Finally, Wolfe Research raised shares of MSG Knickerbockers from a “peer perform” rating to an “outperform” rating in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $445.00.

MSG Knickerbockers Company Profile

MSG Knickerbockers, Inc is the corporate entity associated with the New York Knicks, the National Basketball Association (NBA) franchise based at Madison Square Garden in New York City. The organization’s primary activities include operating and managing the professional basketball team, organizing games and related events, and developing commercial opportunities connected with the Knicks brand.

The Knicks generate business through ticket sales, premium seating, sponsorships, media and broadcasting arrangements, merchandising, licensing, and other fan-focused products and services.