Brokerages Set The Madison Square Garden Company (NYSE:MSGS) Target Price at $261.33

Shares of The Madison Square Garden Company (NYSE:MSGS) have been assigned a consensus rating of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $261.3333.

MSGS has been the subject of several research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday, December 29th. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Wolfe Research downgraded Madison Square Garden from an “outperform” rating to a “hold” rating in a research report on Monday, December 15th. Citigroup boosted their price target on shares of Madison Square Garden from $285.00 to $290.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Madison Square Garden from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd.

Madison Square Garden Trading Up 0.6%

Shares of MSGS opened at $265.32 on Wednesday. The business’s 50 day moving average is $234.52 and its 200 day moving average is $218.53. Madison Square Garden has a 12-month low of $173.26 and a 12-month high of $267.28. The company has a market capitalization of $6.37 billion, a PE ratio of -270.73 and a beta of 0.63.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Friday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.67. The company had revenue of $39.45 million for the quarter, compared to the consensus estimate of $41.41 million. During the same quarter in the previous year, the business earned ($0.31) EPS. The company’s quarterly revenue was down 26.0% on a year-over-year basis. Equities research analysts predict that Madison Square Garden will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On Madison Square Garden

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in Madison Square Garden by 27.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,397 shares of the company’s stock worth $353,000 after purchasing an additional 301 shares during the period. Park Avenue Securities LLC boosted its position in Madison Square Garden by 29.4% in the 4th quarter. Park Avenue Securities LLC now owns 9,588 shares of the company’s stock valued at $2,480,000 after buying an additional 2,176 shares during the period. GAMMA Investing LLC grew its stake in Madison Square Garden by 15.9% in the 4th quarter. GAMMA Investing LLC now owns 1,120 shares of the company’s stock worth $290,000 after acquiring an additional 154 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Madison Square Garden by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 117,905 shares of the company’s stock worth $26,764,000 after acquiring an additional 12,412 shares during the period. Finally, Boyar Asset Management Inc. raised its stake in shares of Madison Square Garden by 2.9% during the third quarter. Boyar Asset Management Inc. now owns 21,228 shares of the company’s stock valued at $4,819,000 after acquiring an additional 589 shares in the last quarter. Hedge funds and other 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.