Wall Street analysts expect Madison Square Garden Sports Corp. (NYSE:MSGS – Get Rating) to post sales of $327.33 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Madison Square Garden Sports’ earnings, with estimates ranging from $326.95 million to $327.70 million. Madison Square Garden Sports posted sales of $183.01 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 78.9%. The business is expected to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Madison Square Garden Sports will report full year sales of $722.74 million for the current financial year, with estimates ranging from $706.16 million to $755.56 million. For the next year, analysts expect that the firm will report sales of $785.63 million, with estimates ranging from $768.60 million to $814.79 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Madison Square Garden Sports.
Madison Square Garden Sports (NYSE:MSGS – Get Rating) last released its quarterly earnings results on Thursday, February 3rd. The company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The company had revenue of $289.60 million for the quarter, compared to analyst estimates of $295.61 million. Madison Square Garden Sports had a negative return on equity of 24.26% and a net margin of 8.54%. Madison Square Garden Sports’s revenue was up 905.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.68) earnings per share.
Several institutional investors and hedge funds have recently modified their holdings of MSGS. Morgan Stanley increased its stake in shares of Madison Square Garden Sports by 86.2% in the 2nd quarter. Morgan Stanley now owns 398,321 shares of the company’s stock valued at $68,739,000 after purchasing an additional 184,430 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in Madison Square Garden Sports during the 3rd quarter worth $200,000. Victory Capital Management Inc. grew its position in Madison Square Garden Sports by 49.0% during the 3rd quarter. Victory Capital Management Inc. now owns 43,925 shares of the company’s stock worth $8,168,000 after acquiring an additional 14,455 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Madison Square Garden Sports by 64.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,697 shares of the company’s stock worth $501,000 after acquiring an additional 1,059 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Madison Square Garden Sports by 3.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 6,794 shares of the company’s stock worth $1,263,000 after acquiring an additional 229 shares during the last quarter. Institutional investors own 72.55% of the company’s stock.
NYSE MSGS opened at $166.03 on Friday. The firm has a market cap of $4.00 billion, a P/E ratio of 74.79 and a beta of 0.91. The stock’s 50-day moving average is $172.03 and its 200-day moving average is $174.86. Madison Square Garden Sports has a one year low of $152.42 and a one year high of $203.37.
About Madison Square Garden Sports (Get Rating)
Madison Square Garden Sports Corp. operates as a professional sports company. The company owns and operates a portfolio of assets consists of the New York Knickerbockers of the National Basketball Association NBA and the New York Rangers of the National Hockey League NHL. Its other professional franchises include two development league teams, the Hartford Wolf Pack of the American Hockey League (AHL) and the Westchester Knicks of the NBA G League (NBAGL).
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