Madison Square Garden Co (NYSE:MSG) – Investment analysts at Imperial Capital boosted their Q3 2019 earnings per share (EPS) estimates for shares of Madison Square Garden in a research note issued on Monday, November 12th. Imperial Capital analyst D. Miller now anticipates that the company will post earnings of $1.62 per share for the quarter, up from their previous estimate of $1.54. Imperial Capital currently has a “Outperform” rating and a $372.00 target price on the stock. Imperial Capital also issued estimates for Madison Square Garden’s Q2 2020 earnings at $4.31 EPS.

Madison Square Garden (NYSE:MSG) last issued its earnings results on Thursday, November 1st. The company reported ($1.36) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.13) by $0.77. The business had revenue of $218.14 million during the quarter, compared to the consensus estimate of $211.48 million. Madison Square Garden had a return on equity of 0.27% and a net margin of 7.86%. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.47) earnings per share.

A number of other brokerages also recently weighed in on MSG. Morgan Stanley lifted their target price on Madison Square Garden from $260.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Guggenheim raised their price objective on Madison Square Garden to $350.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Zacks Investment Research raised Madison Square Garden from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Finally, Macquarie reissued a “buy” rating and issued a $356.00 price objective on shares of Madison Square Garden in a research note on Tuesday, October 30th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $344.33.

Shares of MSG stock opened at $262.66 on Tuesday. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 44.22, a price-to-earnings-growth ratio of 17.88 and a beta of 0.70. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Madison Square Garden has a fifty-two week low of $205.22 and a fifty-two week high of $330.00.

A number of institutional investors have recently made changes to their positions in MSG. Partner Fund Management L.P. acquired a new stake in Madison Square Garden in the second quarter valued at approximately $48,929,000. Wells Fargo & Company MN grew its stake in Madison Square Garden by 130.3% in the third quarter. Wells Fargo & Company MN now owns 155,066 shares of the company’s stock valued at $48,896,000 after acquiring an additional 87,727 shares during the period. Acadian Asset Management LLC grew its stake in Madison Square Garden by 2,065.7% in the third quarter. Acadian Asset Management LLC now owns 75,021 shares of the company’s stock valued at $23,657,000 after acquiring an additional 71,557 shares during the period. Scout Investments Inc. acquired a new stake in Madison Square Garden in the third quarter valued at approximately $18,377,000. Finally, Renaissance Technologies LLC grew its stake in Madison Square Garden by 13.2% in the second quarter. Renaissance Technologies LLC now owns 436,199 shares of the company’s stock valued at $135,305,000 after acquiring an additional 50,999 shares during the period. 71.06% of the stock is owned by hedge funds and other institutional investors.

About Madison Square Garden

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

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

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