MSG Knickerbockers (NYSE:MSGK) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of MSG Knickerbockers (NYSE:MSGK) from a hold rating to a strong sell rating in a research report released on Saturday,Wall Street Zen reports.

Several other research firms also recently commented on MSGK. Guggenheim reduced their price target on shares of MSG Knickerbockers from $584.00 to $445.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. Weiss Ratings assumed coverage on shares of MSG Knickerbockers in a report on Wednesday, October 28th. They set a “hold (c)” rating for the company. Wolfe Research upgraded shares of MSG Knickerbockers from a “peer perform” rating to an “outperform” rating in a research note on Wednesday, November 4th. Morgan Stanley dropped their target price on shares of MSG Knickerbockers from $450.00 to $375.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 10th. Finally, Zacks Research downgraded shares of MSG Knickerbockers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 27th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MSG Knickerbockers has an average rating of “Hold” and a consensus target price of $410.00.

MSG Knickerbockers Stock Down 0.3%

Shares of MSG Knickerbockers stock traded down $0.98 during trading hours on Friday, reaching $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 one year low of $210.90 and a one year high of $438.93. The company has a market cap of $7.56 billion, a PE ratio of -506.35 and a beta of 0.63.

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

MSG Knickerbockers Company Profile

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.