The Madison Square Garden (MSG) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of The Madison Square Garden (NYSE:MSG) from a hold rating to a strong-buy rating in a research report released on Thursday. Zacks Investment Research currently has $278.00 price target on the stock.

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. “

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A number of other brokerages have also recently commented on MSG. ValuEngine raised shares of The Madison Square Garden from a hold rating to a buy rating in a report on Monday, April 2nd. TheStreet raised shares of The Madison Square Garden from a c rating to a b rating in a report on Friday, February 2nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $229.00.

MSG stock opened at $245.12 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.93 and a current ratio of 1.93. The Madison Square Garden has a twelve month low of $189.96 and a twelve month high of $254.50. The company has a market cap of $5,773.56, a price-to-earnings ratio of -220.83 and a beta of 0.46.

The Madison Square Garden (NYSE:MSG) last announced its earnings results on Friday, February 2nd. The company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $1.32. The business had revenue of $536.30 million for the quarter, compared to analysts’ expectations of $523.45 million. The Madison Square Garden had a net margin of 5.21% and a negative return on equity of 1.00%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.39 EPS. analysts predict that The Madison Square Garden will post 0.64 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Long Pond Capital LP grew its position in The Madison Square Garden by 90.1% in the 4th quarter. Long Pond Capital LP now owns 599,320 shares of the company’s stock valued at $126,367,000 after buying an additional 284,052 shares during the last quarter. Gruss Capital Management LP grew its position in The Madison Square Garden by 51.8% in the 3rd quarter. Gruss Capital Management LP now owns 349,172 shares of the company’s stock valued at $74,758,000 after buying an additional 119,172 shares during the last quarter. BlackRock Inc. grew its position in The Madison Square Garden by 10.2% in the 4th quarter. BlackRock Inc. now owns 849,590 shares of the company’s stock valued at $179,135,000 after buying an additional 78,984 shares during the last quarter. JPMorgan Chase & Co. grew its position in The Madison Square Garden by 56,934.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 45,057 shares of the company’s stock valued at $9,709,000 after buying an additional 44,978 shares during the last quarter. Finally, Cowen Inc. grew its position in The Madison Square Garden by 545.0% in the 4th quarter. Cowen Inc. now owns 37,950 shares of the company’s stock valued at $8,002,000 after buying an additional 32,066 shares during the last quarter. 70.87% of the stock is currently owned by institutional investors and hedge funds.

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The Madison Square Garden Company Profile

The Madison Square Garden Company, through its subsidiaries, engages in sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises, as well as promotes, produces, and/or presents a range of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

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

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