Madison Square Garden (NYSE:MSGS) Price Target Raised to $220.00 at Morgan Stanley

Madison Square Garden (NYSE:MSGS) had its price objective boosted by Morgan Stanley from $215.00 to $220.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Guggenheim restated a “buy” rating and set a $314.00 target price on shares of Madison Square Garden in a research note on Tuesday, May 6th. Susquehanna assumed coverage on shares of Madison Square Garden in a research note on Monday, April 28th. They set a “positive” rating and a $254.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of Madison Square Garden from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $253.60.

Madison Square Garden Price Performance

Shares of MSGS stock opened at $194.77 on Wednesday. Madison Square Garden has a 1 year low of $173.26 and a 1 year high of $237.99. The firm has a fifty day moving average price of $201.22 and a 200-day moving average price of $198.22. The company has a market cap of $4.68 billion, a price-to-earnings ratio of -211.71 and a beta of 0.79.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.35. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The firm had revenue of $203.96 million during the quarter, compared to the consensus estimate of $151.00 million. During the same quarter in the previous year, the firm posted $1.06 EPS. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities research analysts expect that Madison Square Garden will post 0.73 EPS for the current year.

Institutional Trading of Madison Square Garden

Hedge funds have recently bought and sold shares of the stock. Putney Financial Group LLC purchased a new stake in Madison Square Garden in the 4th quarter worth $28,000. Fifth Third Bancorp lifted its stake in Madison Square Garden by 59.5% in the 2nd quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock worth $39,000 after purchasing an additional 69 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Madison Square Garden in the 4th quarter worth $43,000. Covestor Ltd lifted its stake in Madison Square Garden by 35.5% in the 1st quarter. Covestor Ltd now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 109 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in Madison Square Garden in the 4th quarter worth $92,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

About Madison Square Garden

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.