The Madison Square Garden Company (NYSE:MSGS) Stock Has Consensus Price Target of $471.20

The Madison Square Garden Company (NYSE:MSGS) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $471.20.

MSGS has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Madison Square Garden from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Guggenheim lifted their price target on Madison Square Garden from $522.00 to $584.00 and gave the company a “buy” rating in a report on Friday, August 14th. Morgan Stanley upgraded Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 price objective for the company in a research report on Wednesday, July 15th. Wall Street Zen raised Madison Square Garden from a “sell” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, Susquehanna increased their price objective on Madison Square Garden from $430.00 to $477.00 and gave the stock a “positive” rating in a report on Friday, August 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MSGS. Maryland State Retirement & Pension System raised its stake in shares of Madison Square Garden by 34.5% in the 3rd quarter. Maryland State Retirement & Pension System now owns 4,697 shares of the company’s stock worth $1,903,000 after buying an additional 1,204 shares in the last quarter. AlphaCore Capital LLC boosted its stake in Madison Square Garden by 53.0% during the third quarter. AlphaCore Capital LLC now owns 1,019 shares of the company’s stock valued at $413,000 after buying an additional 353 shares in the last quarter. CenterBook Partners LP bought a new position in Madison Square Garden during the third quarter valued at about $918,000. Heritage Family Offices LLP bought a new position in Madison Square Garden during the third quarter valued at about $128,000. Finally, Kestra Advisory Services LLC grew its holdings in Madison Square Garden by 7.3% during the third quarter. Kestra Advisory Services LLC now owns 751 shares of the company’s stock worth $304,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

Shares of MSGS opened at $387.25 on Tuesday. The firm has a fifty day moving average of $396.46 and a 200-day moving average of $360.82. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 1,290.87 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 released its quarterly earnings data on Thursday, August 13th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.52. The business had revenue of $278.75 million for the quarter, compared to analysts’ expectations of $227.67 million. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The company’s revenue for the quarter was up 36.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. Analysts predict that Madison Square Garden will post -1.13 EPS for the current year.

Madison Square Garden Company Profile

Madison Square Garden Sports Corp. (NYSE: MSGS) is a sports and entertainment company that owns and operates professional sports franchises. Its principal assets include the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League. The company also owns the NBA G League’s Westchester Knicks and operates team-related businesses involving ticketing, sponsorships, media rights, merchandising and licensing.

Through its teams and related commercial activities, Madison Square Garden Sports serves fans primarily in the New York metropolitan area while reaching national and international audiences through league broadcasts, digital media, live events and branded merchandise.