The Madison Square Garden Company (NYSE:MSGS) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of The Madison Square Garden Company (NYSE:MSGS) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $471.20.

A number of brokerages have issued reports on MSGS. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. JPMorgan Chase & Co. upped their price objective on shares of Madison Square Garden from $450.00 to $485.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Weiss Ratings raised shares of Madison Square Garden from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Wall Street Zen upgraded shares of Madison Square Garden from a “sell” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, Guggenheim increased their price target on shares of Madison Square Garden from $522.00 to $584.00 and gave the company a “buy” rating in a research note on Friday, August 14th.

Institutional Trading of Madison Square Garden

Several institutional investors have recently made changes to their positions in the company. SJS Investment Consulting Inc. raised its position in Madison Square Garden by 488.2% in the first quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock valued at $32,000 after purchasing an additional 83 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Madison Square Garden by 67.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock worth $32,000 after purchasing an additional 49 shares during the last quarter. GHP Investment Advisors Inc. acquired a new stake in shares of Madison Square Garden during the 1st quarter worth about $51,000. EverSource Wealth Advisors LLC increased its position in shares of Madison Square Garden by 35.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 162 shares of the company’s stock worth $52,000 after purchasing an additional 42 shares during the last quarter. Finally, Robotti Robert purchased a new stake in Madison Square Garden in the 2nd quarter valued at about $201,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Price Performance

MSGS stock opened at $404.21 on Friday. The business has a 50 day simple moving average of $398.88 and a 200-day simple moving average of $375.66. The firm has a market capitalization of $9.73 billion, a PE ratio of 1,347.43 and a beta of 0.62. Madison Square Garden has a 1 year low of $207.90 and a 1 year high of $438.93.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings results on Thursday, August 13th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.64 by $0.52. Madison Square Garden had a negative return on equity of 3.47% and a net margin of 0.67%. The firm had revenue of $278.75 million during the quarter, compared to analysts’ expectations of $227.67 million. During the same quarter last year, the firm earned ($0.07) earnings per share. The business’s revenue for the quarter was up 36.6% on a year-over-year basis. On average, equities research analysts expect that Madison Square Garden will post -1.13 EPS for the current year.

About Madison Square Garden

Madison Square Garden Sports Corp. (NYSE:MSGS) is a professional sports and entertainment company based in New York. Its principal assets are the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League.

The company also owns and operates related sports properties, including the NBA G League’s Westchester Knicks, the American Hockey League’s Hartford Wolf Pack and the NBA 2K League’s Knicks Gaming. Its business activities include team operations, ticket sales, sponsorships, licensing, merchandise and other commercial rights associated with its sports franchises.

Madison Square Garden Sports primarily serves fans and commercial partners in the New York metropolitan area while its teams compete in national leagues with audiences throughout the United States and internationally.