Analysts Expect Madison Square Garden Co (MSG) Will Post Quarterly Sales of $442.08 Million

Analysts expect that Madison Square Garden Co (NYSE:MSG) will announce sales of $442.08 million for the current quarter, Zacks reports. Two analysts have provided estimates for Madison Square Garden’s earnings, with estimates ranging from $442.00 million to $442.16 million. Madison Square Garden reported sales of $386.03 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.5%. The company is scheduled to report its next earnings report on Thursday, May 3rd.

According to Zacks, analysts expect that Madison Square Garden will report full-year sales of $442.08 million for the current fiscal year, with estimates ranging from $1.52 billion to $1.54 billion. For the next year, analysts anticipate that the firm will post sales of $1.59 billion per share, with estimates ranging from $1.58 billion to $1.61 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Madison Square Garden.

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Madison Square Garden (NYSE:MSG) last issued its quarterly earnings results on Friday, February 2nd. The company reported $3.19 EPS for the quarter, topping the consensus estimate of $1.87 by $1.32. Madison Square Garden had a net margin of 5.21% and a negative return on equity of 1.00%. The business had revenue of $536.30 million for the quarter, compared to analysts’ expectations of $523.45 million. During the same quarter last year, the company posted $2.39 earnings per share. The company’s quarterly revenue was up 20.5% compared to the same quarter last year.

MSG has been the topic of a number of recent research reports. TheStreet raised shares of Madison Square Garden from a “c” rating to a “b” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Madison Square Garden from a “hold” rating to a “buy” rating and set a $235.00 target price on the stock in a report on Thursday, January 4th. Morgan Stanley cut shares of Madison Square Garden from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $218.50 to $245.00 in a report on Tuesday, December 5th. Finally, ValuEngine raised shares of Madison Square Garden from a “sell” rating to a “hold” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Madison Square Garden has a consensus rating of “Hold” and an average target price of $223.63.

Several large investors have recently made changes to their positions in MSG. Long Pond Capital LP increased its stake in shares of Madison Square Garden by 90.1% in the fourth quarter. Long Pond Capital LP now owns 599,320 shares of the company’s stock valued at $126,367,000 after purchasing an additional 284,052 shares during the period. Gruss Capital Management LP increased its stake in shares of Madison Square Garden by 51.8% in the third quarter. Gruss Capital Management LP now owns 349,172 shares of the company’s stock valued at $74,758,000 after purchasing an additional 119,172 shares during the period. BlackRock Inc. increased its stake in shares of Madison Square Garden by 10.2% in the fourth quarter. BlackRock Inc. now owns 849,590 shares of the company’s stock valued at $179,135,000 after purchasing an additional 78,984 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Madison Square Garden by 59.2% in the third quarter. Russell Investments Group Ltd. now owns 195,035 shares of the company’s stock valued at $41,756,000 after purchasing an additional 72,559 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Madison Square Garden by 56,934.2% in the third quarter. JPMorgan Chase & Co. now owns 45,057 shares of the company’s stock valued at $9,709,000 after purchasing an additional 44,978 shares during the period. Institutional investors own 70.88% of the company’s stock.

Shares of Madison Square Garden (NYSE MSG) traded down $3.48 during midday trading on Tuesday, reaching $243.87. 166,306 shares of the company’s stock were exchanged, compared to its average volume of 216,548. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. Madison Square Garden has a 1 year low of $189.96 and a 1 year high of $254.50. The company has a market capitalization of $5,836.92, a PE ratio of 77.51 and a beta of 0.49.

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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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Earnings History and Estimates for Madison Square Garden (NYSE:MSG)

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