The Madison Square Garden Company (NYSE:MSGS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of The Madison Square Garden Company (NYSE:MSGS) have received a consensus rating of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $253.60.

Separately, Morgan Stanley raised their price target on shares of Madison Square Garden from $215.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 13th.

Hedge Funds Weigh In On Madison Square Garden

Hedge funds have recently modified their holdings of the company. Putney Financial Group LLC purchased a new stake in shares of Madison Square Garden during the 4th quarter worth approximately $28,000. Fifth Third Bancorp increased its stake in shares of Madison Square Garden by 59.5% during the 2nd quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock worth $39,000 after purchasing an additional 69 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Madison Square Garden during the 4th quarter worth approximately $43,000. Covestor Ltd increased its stake in shares of Madison Square Garden by 35.5% during the 1st quarter. Covestor Ltd now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 109 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Madison Square Garden by 313.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 401 shares of the company’s stock worth $84,000 after purchasing an additional 304 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Trading Up 3.6%

Shares of Madison Square Garden stock opened at $203.04 on Thursday. The business has a 50-day moving average price of $201.42 and a two-hundred day moving average price of $196.17. Madison Square Garden has a 1-year low of $173.26 and a 1-year high of $237.99. The company has a market cap of $4.87 billion, a P/E ratio of -220.69 and a beta of 0.78.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.35. The company had revenue of $203.96 million for the quarter, compared to analysts’ expectations of $151.00 million. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. Equities research analysts forecast that Madison Square Garden will post 0.73 EPS for the current fiscal year.

About Madison Square Garden

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.