The Madison Square Garden Company (NYSE:MSGS) Receives Consensus Recommendation of “Hold” from Analysts

The Madison Square Garden Company (NYSE:MSGS) has earned an average rating of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $261.3333.

Several equities research analysts recently weighed in on the company. Wolfe Research downgraded Madison Square Garden from an “outperform” rating to a “hold” rating in a report on Monday, December 15th. JPMorgan Chase & Co. upped their price objective on shares of Madison Square Garden from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Zacks Research raised shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Citigroup boosted their price target on shares of Madison Square Garden from $285.00 to $290.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, BTIG Research initiated coverage on shares of Madison Square Garden in a research report on Tuesday, October 7th. They issued a “neutral” rating for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in Madison Square Garden by 5,450.0% in the third quarter. Farther Finance Advisors LLC now owns 111 shares of the company’s stock valued at $25,000 after acquiring an additional 109 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of Madison Square Garden in the 3rd quarter valued at about $27,000. Accredited Wealth Management LLC grew its position in Madison Square Garden by 524.0% during the third quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock worth $35,000 after buying an additional 131 shares during the period. Fifth Third Bancorp increased its holdings in Madison Square Garden by 59.5% in the second quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock valued at $39,000 after buying an additional 69 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Madison Square Garden during the 3rd quarter valued at approximately $80,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

Shares of NYSE:MSGS opened at $253.80 on Wednesday. Madison Square Garden has a one year low of $173.26 and a one year high of $262.77. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of -258.98 and a beta of 0.63. The company has a 50-day simple moving average of $232.12 and a 200-day simple moving average of $217.38.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings results on Friday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.67. The company had revenue of $39.45 million during the quarter, compared to analyst estimates of $41.41 million. During the same quarter last year, the firm earned ($0.31) EPS. The business’s revenue was down 26.0% on a year-over-year basis. As a group, research analysts forecast that Madison Square Garden will post 0.73 EPS for the current fiscal year.

About Madison Square Garden

Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA’s New York Knicks, the NHL’s New York Rangers and the WNBA’s New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.