The Madison Square Garden Company (NYSE:MSGS) Receives $471.20 Consensus PT from Brokerages

Shares of The Madison Square Garden Company (NYSE:MSGS) have been given an average rating of “Hold” by the nine analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $471.20.

A number of analysts have weighed in on MSGS shares. Guggenheim boosted their price target on Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Susquehanna increased their price objective on Madison Square Garden from $430.00 to $477.00 and gave the company a “positive” rating in a report on Friday, August 14th. JPMorgan Chase & Co. raised their price objective on Madison Square Garden from $450.00 to $485.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Zacks Research upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Finally, Seaport Research Partners upped their target price on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th.

Institutional Trading of Madison Square Garden

Institutional investors and hedge funds have recently modified their holdings of the company. Odyssean LLC boosted its holdings in shares of Madison Square Garden by 64.4% during the 2nd quarter. Odyssean LLC now owns 7,728 shares of the company’s stock worth $3,105,000 after buying an additional 3,028 shares during the period. Syon Capital LLC grew its stake in Madison Square Garden by 9.9% in the 2nd quarter. Syon Capital LLC now owns 1,775 shares of the company’s stock valued at $713,000 after buying an additional 160 shares during the last quarter. AXQ Capital LP bought a new position in Madison Square Garden in the 2nd quarter worth $2,638,000. Nykredit A S bought a new position in Madison Square Garden in the 2nd quarter worth $339,000. Finally, BTG Pactual Asset Management US LLC acquired a new position in Madison Square Garden during the 2nd quarter worth $423,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Trading Up 2.2%

MSGS stock opened at $407.48 on Thursday. The firm has a market cap of $9.81 billion, a PE ratio of 1,358.31 and a beta of 0.62. Madison Square Garden has a 1 year low of $193.87 and a 1 year high of $438.93. The company has a fifty day simple moving average of $391.61 and a 200 day simple moving average of $351.72.

Madison Square Garden (NYSE:MSGS) last posted its earnings results on Wednesday, August 12th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.64 by $0.52. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The firm had revenue of $278.75 million for the quarter, compared to the consensus estimate of $227.67 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The business’s quarterly revenue was up 36.6% on a year-over-year basis. As a group, analysts forecast that Madison Square Garden will post -0.74 EPS for the current fiscal year.

About Madison Square Garden

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.