Madison Square Garden (NYSE:MSGS) Issues Earnings Results, Misses Estimates By $0.20 EPS

Madison Square Garden (NYSE:MSGS) released its earnings results on Friday. The company reported ($1.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.20), FiscalAI reports. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The firm had revenue of $45.49 million during the quarter, compared to the consensus estimate of $40.67 million.

Madison Square Garden Price Performance

NYSE MSGS traded up $2.86 during trading on Friday, hitting $387.25. 261,295 shares of the company’s stock traded hands, compared to its average volume of 384,217. The firm has a market cap of $9.32 billion, a P/E ratio of 1,290.87 and a beta of 0.62. The stock has a fifty day moving average of $396.46 and a two-hundred day moving average of $360.82. Madison Square Garden has a 12-month low of $207.90 and a 12-month high of $438.93.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports 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. Guggenheim raised their price objective on Madison Square Garden from $522.00 to $584.00 and gave the company a “buy” rating in a report on Friday, August 14th. JPMorgan Chase & Co. boosted their target price on Madison Square Garden from $450.00 to $485.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Susquehanna boosted their target price on Madison Square Garden from $430.00 to $477.00 and gave the stock a “positive” rating in a research report on Friday, August 14th. Finally, Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $471.20.

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.