Zacks: Analysts Anticipate Madison Square Garden Sports Corp. (NYSE:MSGS) Will Post Earnings of $0.63 Per Share

Wall Street brokerages forecast that Madison Square Garden Sports Corp. (NYSE:MSGS) will post earnings per share (EPS) of $0.63 for the current quarter, according to Zacks. Two analysts have provided estimates for Madison Square Garden Sports’ earnings. The lowest EPS estimate is $0.35 and the highest is $0.91. Madison Square Garden Sports posted earnings of ($1.68) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 137.5%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 2nd.

On average, analysts expect that Madison Square Garden Sports will report full-year earnings of $0.67 per share for the current year, with EPS estimates ranging from $0.59 to $0.74. For the next financial year, analysts expect that the business will post earnings of $1.58 per share, with EPS estimates ranging from $0.79 to $2.36. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Madison Square Garden Sports.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings data on Wednesday, November 10th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.12) by $0.44. The company had revenue of $18.79 million during the quarter, compared to analyst estimates of $23.77 million. During the same quarter in the prior year, the company earned ($1.18) EPS.

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Madison Square Garden Sports from $190.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, November 1st. Morgan Stanley cut shares of Madison Square Garden Sports from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $230.00 to $200.00 in a report on Wednesday, December 15th. Finally, Zacks Investment Research cut shares of Madison Square Garden Sports from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Madison Square Garden Sports presently has a consensus rating of “Buy” and a consensus price target of $210.20.

NYSE MSGS opened at $167.40 on Friday. Madison Square Garden Sports has a 1 year low of $152.42 and a 1 year high of $207.09. The company has a market capitalization of $4.04 billion, a PE ratio of -1,521.68 and a beta of 0.93. The company has a fifty day moving average of $174.95 and a two-hundred day moving average of $175.87.

Several hedge funds and other institutional investors have recently bought and sold shares of MSGS. Advisor Group Holdings Inc. lifted its position in Madison Square Garden Sports by 7.0% in the 2nd quarter. Advisor Group Holdings Inc. now owns 1,595 shares of the company’s stock valued at $275,000 after purchasing an additional 105 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Madison Square Garden Sports by 1.6% in the 2nd quarter. HighTower Advisors LLC now owns 9,832 shares of the company’s stock worth $1,696,000 after purchasing an additional 153 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of Madison Square Garden Sports by 47.2% in the 2nd quarter. WINTON GROUP Ltd now owns 5,370 shares of the company’s stock worth $927,000 after purchasing an additional 1,721 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Madison Square Garden Sports by 67.3% in the second quarter. Rockefeller Capital Management L.P. now owns 368 shares of the company’s stock worth $63,000 after acquiring an additional 148 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Madison Square Garden Sports by 35.8% in the second quarter. Principal Financial Group Inc. now owns 1,730 shares of the company’s stock worth $299,000 after acquiring an additional 456 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

About Madison Square Garden Sports

Madison Square Garden Sports Corp. is a professional sports company. It owns and operates a portfolio of assets featuring some of the teams in all of sports, including the New York Knickerbockers (the Knicks) of the National Basketball Association (NBA) and the New York Rangers (the Rangers) of the National Hockey League (NHL).

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Earnings History and Estimates for Madison Square Garden Sports (NYSE:MSGS)

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