Analysts Set The Madison Square Garden Company (NYSE:MSGS) Target Price at $471.20

Shares of The Madison Square Garden Company (NYSE:MSGS) have been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $471.20.

Several equities research analysts have recently weighed in on MSGS shares. Wall Street Zen upgraded Madison Square Garden from a “sell” rating to a “hold” rating in a report on Sunday, August 23rd. JPMorgan Chase & Co. boosted their price objective on Madison Square Garden from $450.00 to $485.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Guggenheim upped their price objective on Madison Square Garden from $522.00 to $584.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Morgan Stanley raised Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 price objective on the stock in a research report on Wednesday, July 15th. Finally, Seaport Research Partners increased their target price on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th.

Madison Square Garden Trading Up 0.1%

Shares of NYSE:MSGS opened at $393.61 on Monday. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 1,312.09 and a beta of 0.60. Madison Square Garden has a 12 month low of $207.90 and a 12 month high of $438.93. The firm’s 50-day moving average is $395.14 and its 200 day moving average is $364.12.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.52. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The business had revenue of $278.75 million during the quarter, compared to the consensus estimate of $227.67 million. During the same quarter last year, the firm earned ($0.07) earnings per share. The firm’s quarterly revenue was up 36.6% compared to the same quarter last year. As a group, equities analysts forecast that Madison Square Garden will post -0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MSGS. Sequoia Financial Advisors LLC purchased a new stake in Madison Square Garden in the 2nd quarter valued at about $215,000. Engineers Gate Manager LP purchased a new position in shares of Madison Square Garden during the second quarter worth approximately $4,331,000. NorthRock Partners LLC purchased a new position in shares of Madison Square Garden during the second quarter worth approximately $239,000. Integrated Wealth Concepts LLC bought a new stake in shares of Madison Square Garden during the second quarter valued at approximately $218,000. Finally, NewEdge Advisors LLC raised its stake in shares of Madison Square Garden by 15.2% during the second quarter. NewEdge Advisors LLC now owns 2,531 shares of the company’s stock valued at $1,017,000 after acquiring an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

About Madison Square Garden

Madison Square Garden Sports Corp. is a professional sports and entertainment company headquartered in New York. The company owns and operates the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League. Through these franchises, it manages team operations, ticketing, sponsorships, media rights, merchandising and other commercial activities connected with professional sports.

Madison Square Garden Sports also owns the Hartford Wolf Pack, a minor-league hockey team affiliated with the Rangers, and has been involved in esports through Knicks Gaming, its NBA 2K League team.