MSG Knickerbockers (NYSE:MSGK) Stock Rating Upgraded by Zacks Research

MSG Knickerbockers (NYSE:MSGK) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks reports.

A number of other research firms also recently weighed in on MSGK. Wall Street Zen downgraded shares of MSG Knickerbockers from a “hold” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings assumed coverage on MSG Knickerbockers in a research note on Wednesday, October 28th. They issued a “hold (c)” rating for the company. Guggenheim reduced their price target on MSG Knickerbockers from $584.00 to $445.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. Wolfe Research raised MSG Knickerbockers from a “peer perform” rating to an “outperform” rating in a research report on Wednesday, November 4th. Finally, Morgan Stanley cut their target price on MSG Knickerbockers from $450.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, November 10th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $410.00.

MSG Knickerbockers Stock Down 0.3%

MSG Knickerbockers stock traded down $0.98 during midday trading on Thursday, hitting $313.94. The company’s stock had a trading volume of 267,038 shares, compared to its average volume of 359,870. MSG Knickerbockers has a 1-year low of $210.90 and a 1-year high of $438.93. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of -506.35 and a beta of 0.63.

MSG Knickerbockers (NYSE:MSGK) last posted its quarterly earnings data on Friday, November 6th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.11). MSG Knickerbockers had a negative net margin of 1.26% and a negative return on equity of 3.47%. The business had revenue of $45.49 million during the quarter, compared to the consensus estimate of $39.78 million. MSG Knickerbockers’s quarterly revenue was up 15.2% on a year-over-year basis. On average, sell-side analysts anticipate that MSG Knickerbockers will post 0.27 earnings per share for the current fiscal year.

About MSG Knickerbockers

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.