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

The Madison Square Garden Company (NYSE:MSGS) has been given a consensus rating of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $442.40.

Several research analysts recently weighed in on MSGS shares. Citigroup lifted their target price on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Susquehanna upped their price target on shares of Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a report on Tuesday, June 23rd. Wall Street Zen raised shares of Madison Square Garden from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Zacks Research lowered shares of Madison Square Garden from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Finally, Morgan Stanley raised shares of 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 note on Wednesday, July 15th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Amundi lifted its position in shares of Madison Square Garden by 4.7% during the 1st quarter. Amundi now owns 5,643 shares of the company’s stock valued at $1,091,000 after acquiring an additional 252 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Madison Square Garden by 8.0% in the 1st quarter. Millennium Management LLC now owns 27,147 shares of the company’s stock worth $5,286,000 after acquiring an additional 2,006 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Madison Square Garden by 28.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,807 shares of the company’s stock worth $4,830,000 after acquiring an additional 5,452 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Madison Square Garden during the first quarter worth $210,000. Finally, Empowered Funds LLC raised its position in shares of Madison Square Garden by 10.8% during the first quarter. Empowered Funds LLC now owns 2,055 shares of the company’s stock worth $400,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

Shares of NYSE MSGS opened at $398.55 on Friday. The stock has a fifty day moving average price of $382.37 and a two-hundred day moving average price of $337.32. The firm has a market cap of $9.60 billion, a P/E ratio of -428.54 and a beta of 0.61. Madison Square Garden has a 1 year low of $188.60 and a 1 year high of $411.73.

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

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.