The Madison Square Garden Company (NYSE:MSGS) Receives $442.40 Consensus Target Price from Analysts

Shares of The Madison Square Garden Company (NYSE:MSGS) have been assigned a consensus rating of “Hold” from the nine brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $442.40.

A number of analysts have recently issued reports on MSGS shares. JPMorgan Chase & Co. lifted their price objective on shares of Madison Square Garden from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Madison Square Garden from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Zacks Research cut Madison Square Garden from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Finally, Citigroup lifted their price target on Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th.

Madison Square Garden Stock Performance

MSGS opened at $405.62 on Friday. Madison Square Garden has a 1 year low of $188.60 and a 1 year high of $411.73. The firm has a 50 day moving average price of $384.33 and a 200 day moving average price of $339.26. The company has a market cap of $9.77 billion, a PE ratio of -436.15 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last issued its earnings results on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The firm had revenue of $432.20 million for the quarter, compared to analyst estimates of $429.66 million. During the same quarter in the previous year, the company posted ($0.59) earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that Madison Square Garden will post -0.06 earnings per share for the current year.

Hedge Funds Weigh In On Madison Square Garden

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its position in shares of Madison Square Garden by 29.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 4,892 shares of the company’s stock valued at $1,966,000 after purchasing an additional 1,120 shares in the last quarter. Chemistry Wealth Management LLC purchased a new stake in shares of Madison Square Garden in the second quarter worth approximately $223,000. Valeo Financial Advisors LLC acquired a new stake in shares of Madison Square Garden during the 2nd quarter valued at $226,000. GAMMA Investing LLC boosted its position in Madison Square Garden by 4.7% during the second quarter. GAMMA Investing LLC now owns 1,275 shares of the company’s stock valued at $512,000 after purchasing an additional 57 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Madison Square Garden by 2.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,214 shares of the company’s stock valued at $488,000 after buying an additional 31 shares in the last quarter. 68.94% of the stock is owned by institutional investors.

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.