Madison Square Garden Sports (NYSE:MSGS) Announces Quarterly Earnings Results, Misses Estimates By $0.34 EPS

Madison Square Garden Sports (NYSE:MSGS – Get Rating) released its quarterly earnings data on Thursday. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.34), MarketWatch Earnings reports. Madison Square Garden Sports had a negative return on equity of 24.26% and a net margin of 8.54%. The firm had revenue of $337.80 million for the quarter, compared to the consensus estimate of $332.95 million. During the same period in the previous year, the business earned $0.22 EPS. The firm’s revenue was up 84.6% compared to the same quarter last year.

MSGS traded down $5.58 during trading on Friday, hitting $162.77. The company had a trading volume of 129,008 shares, compared to its average volume of 82,664. The company has a market capitalization of $3.93 billion, a PE ratio of 54.26 and a beta of 0.92. Madison Square Garden Sports has a one year low of $152.42 and a one year high of $203.37. The firm’s 50-day moving average price is $170.57 and its 200 day moving average price is $173.73.

MSGS has been the subject of several recent analyst reports. Zacks Investment Research upgraded Madison Square Garden Sports from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th. TheStreet upgraded Madison Square Garden Sports from a “d” rating to a “c-” rating in a report on Thursday, February 3rd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $211.50.

Several institutional investors and hedge funds have recently modified their holdings of MSGS. Morgan Stanley grew its stake in shares of Madison Square Garden Sports by 86.2% during the 2nd quarter. Morgan Stanley now owns 398,321 shares of the company’s stock worth $68,739,000 after acquiring an additional 184,430 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Madison Square Garden Sports by 16.6% during the third quarter. BNP Paribas Arbitrage SA now owns 3,348 shares of the company’s stock worth $623,000 after acquiring an additional 476 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Madison Square Garden Sports by 50.3% during the fourth quarter. JPMorgan Chase & Co. now owns 33,935 shares of the company’s stock worth $5,895,000 after acquiring an additional 11,352 shares in the last quarter. Barclays PLC raised its holdings in Madison Square Garden Sports by 193.2% during the fourth quarter. Barclays PLC now owns 44,171 shares of the company’s stock worth $7,674,000 after acquiring an additional 29,106 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in Madison Square Garden Sports by 3.3% during the fourth quarter. LPL Financial LLC now owns 2,757 shares of the company’s stock worth $479,000 after acquiring an additional 89 shares in the last quarter. 67.12% of the stock is owned by institutional investors.

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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