The Madison Square Garden Company (NYSE:MSGS) Given Average Rating of “Hold” by Brokerages

Shares of The Madison Square Garden Company (NYSE:MSGS) have been given a consensus recommendation of “Hold” by the nine analysts that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $356.80.

Several analysts have commented on MSGS shares. Susquehanna increased their price target on shares of Madison Square Garden from $404.00 to $429.00 and gave the company a “positive” rating in a research report on Thursday, May 28th. Wall Street Zen lowered shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Seaport Research Partners increased their price target on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Citigroup increased their price target on shares of Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 27th.

Institutional Trading of Madison Square Garden

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake 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 last quarter. Gabelli Funds LLC grew its stake in shares of Madison Square Garden by 0.9% during the fourth quarter. Gabelli Funds LLC now owns 394,292 shares of the company’s stock worth $101,984,000 after acquiring an additional 3,607 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Madison Square Garden by 30.6% during the third quarter. Envestnet Asset Management Inc. now owns 15,776 shares of the company’s stock worth $3,581,000 after acquiring an additional 3,700 shares during the last quarter. Citigroup Inc. grew its stake in shares of Madison Square Garden by 294.7% during the third quarter. Citigroup Inc. now owns 39,718 shares of the company’s stock worth $9,016,000 after acquiring an additional 29,656 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Madison Square Garden by 1,394.6% during the fourth quarter. M&T Bank Corp now owns 16,396 shares of the company’s stock worth $4,241,000 after acquiring an additional 15,299 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Price Performance

MSGS stock opened at $383.52 on Friday. The business has a 50-day moving average price of $349.12 and a 200 day moving average price of $303.87. The company has a market capitalization of $9.24 billion, a P/E ratio of -412.38 and a beta of 0.61. Madison Square Garden has a 1-year low of $186.00 and a 1-year high of $397.00.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of $0.56 by ($1.39). The company had revenue of $432.20 million during the quarter, compared to analysts’ expectations of $429.66 million. Madison Square Garden’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.59) EPS. On average, analysts anticipate that Madison Square Garden will post -0.5 earnings per share for the current fiscal year.

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.