The Madison Square Garden (NYSE:MSG) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of The Madison Square Garden (NYSE:MSG) from a buy rating to a hold rating in a research note published on Tuesday, January 9th.

According to Zacks, “The Madison Square Garden Company is involved in the sports, entertainment and media industries. The company’s business segment consists of MSG Sports, MSG Media and MSG Entertainment. MSG Sports is involved in live sporting events. MSG Sports owns and operates sports franchises include the New York Knicks, the New York Rangers, the New York Liberty, the Westchester Knicks and the Hartford Wolf Pack. MSG Media is involved in production and content development for multiple distribution platforms. MSG Entertainment creates, produces and presents live productions, hosts live entertainment events. The Madison Square Garden Company is based in New York, United States. “

MSG has been the topic of a number of other research reports. BTIG Research set a $260.00 price target on The Madison Square Garden and gave the company a buy rating in a research note on Monday, September 11th. ValuEngine downgraded The Madison Square Garden from a hold rating to a sell rating in a research note on Friday, December 1st. Loop Capital increased their price target on The Madison Square Garden from $266.00 to $268.00 and gave the company a buy rating in a research note on Monday, November 6th. Morgan Stanley downgraded The Madison Square Garden from an overweight rating to an equal weight rating and raised their price objective for the stock from $218.50 to $245.00 in a research note on Tuesday, December 5th. Finally, Jefferies Group reaffirmed a hold rating and set a $200.00 price objective on shares of The Madison Square Garden in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The Madison Square Garden has a consensus rating of Hold and an average price target of $219.00.

Shares of The Madison Square Garden (MSG) traded up $1.56 on Tuesday, reaching $212.00. The company’s stock had a trading volume of 103,183 shares, compared to its average volume of 95,509. The company has a market cap of $4,957.76, a price-to-earnings ratio of -88.33 and a beta of 1.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.92 and a quick ratio of 1.92. The Madison Square Garden has a 52-week low of $166.86 and a 52-week high of $231.44.

The Madison Square Garden (NYSE:MSG) last announced its quarterly earnings data on Friday, November 3rd. The company reported ($0.47) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.18. The firm had revenue of $245.04 million for the quarter, compared to analyst estimates of $237.06 million. The Madison Square Garden had a negative return on equity of 1.75% and a negative net margin of 4.00%. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same period last year, the company earned ($1.19) EPS. equities analysts forecast that The Madison Square Garden will post 0.66 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MSG. Schwab Charles Investment Management Inc. grew its holdings in shares of The Madison Square Garden by 1.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 64,782 shares of the company’s stock valued at $12,756,000 after acquiring an additional 1,189 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of The Madison Square Garden by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 6,826 shares of the company’s stock valued at $1,344,000 after acquiring an additional 245 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of The Madison Square Garden by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 13,535 shares of the company’s stock valued at $2,665,000 after acquiring an additional 1,046 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of The Madison Square Garden by 5.6% in the 2nd quarter. Prudential Financial Inc. now owns 1,326 shares of the company’s stock valued at $261,000 after acquiring an additional 70 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of The Madison Square Garden by 11.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 28,853 shares of the company’s stock valued at $5,681,000 after acquiring an additional 2,890 shares in the last quarter. 71.26% of the stock is currently owned by hedge funds and other institutional investors.

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The Madison Square Garden Company Profile

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

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Analyst Recommendations for The Madison Square Garden (NYSE:MSG)

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