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

The Madison Square Garden Company (NYSE:MSGS) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $261.3333.

MSGS has been the subject of several research reports. BTIG Research assumed coverage on shares of Madison Square Garden in a report on Tuesday, October 7th. They set a “neutral” rating for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Madison Square Garden in a research note on Monday, December 29th. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. JPMorgan Chase & Co. lifted their price objective on Madison Square Garden from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Finally, Wolfe Research cut Madison Square Garden from an “outperform” rating to a “hold” rating in a research report on Monday, December 15th.

Hedge Funds Weigh In On Madison Square Garden

A number of institutional investors and hedge funds have recently made changes to their positions in MSGS. M&T Bank Corp grew its position in Madison Square Garden by 15.1% during the fourth quarter. M&T Bank Corp now owns 1,263 shares of the company’s stock valued at $327,000 after buying an additional 166 shares during the period. Camelot Portfolios LLC purchased a new position in shares of Madison Square Garden during the 4th quarter worth $129,000. Pictet Asset Management Holding SA grew its position in shares of Madison Square Garden by 11.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,230 shares of the company’s stock valued at $577,000 after acquiring an additional 230 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Madison Square Garden by 16.2% in the 4th quarter. Sanctuary Advisors LLC now owns 1,099 shares of the company’s stock worth $284,000 after purchasing an additional 153 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in Madison Square Garden by 33.1% in the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Price Performance

Shares of NYSE:MSGS opened at $283.93 on Friday. Madison Square Garden has a 1 year low of $173.26 and a 1 year high of $293.35. The company has a market cap of $6.82 billion, a P/E ratio of -289.72 and a beta of 0.63. The stock’s fifty day moving average price is $254.74 and its 200-day moving average price is $226.67.

Madison Square Garden (NYSE:MSGS) last issued its earnings results on Friday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.67. The business had revenue of $39.45 million during the quarter, compared to analysts’ expectations of $41.41 million. Madison Square Garden’s quarterly revenue was down 26.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.31) EPS. On average, sell-side analysts anticipate that Madison Square Garden will post 0.73 earnings per share for the current 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.