Brokerages expect that The Madison Square Garden Company (NYSE:MSG) will report earnings of ($0.33) per share for the current quarter, according to Zacks. Two analysts have provided estimates for The Madison Square Garden’s earnings, with the lowest EPS estimate coming in at ($0.41) and the highest estimate coming in at ($0.25). The Madison Square Garden reported earnings per share of ($0.74) during the same quarter last year, which would suggest a positive year over year growth rate of 55.4%. The firm is scheduled to announce its next earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that The Madison Square Garden will report full-year earnings of $0.67 per share for the current fiscal year, with EPS estimates ranging from $0.26 to $1.07. For the next year, analysts expect that the business will post earnings of $0.98 per share, with EPS estimates ranging from $0.33 to $1.49. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow The Madison Square Garden.
The Madison Square Garden (NYSE:MSG) last issued its quarterly earnings data on Friday, February 2nd. The company reported $3.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $1.32. The Madison Square Garden had a negative return on equity of 1.00% and a net margin of 5.21%. The company had revenue of $536.30 million for the quarter, compared to analysts’ expectations of $523.45 million. During the same period in the previous year, the firm posted $2.39 earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis.
Several equities research analysts have weighed in on the company. ValuEngine raised The Madison Square Garden from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research raised The Madison Square Garden from a “hold” rating to a “strong-buy” rating and set a $278.00 price objective on the stock in a research note on Tuesday. Finally, TheStreet raised The Madison Square Garden from a “c” rating to a “b” rating in a research note 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 stock. The Madison Square Garden has an average rating of “Buy” and a consensus target price of $229.00.
NYSE MSG traded down $1.51 during trading hours on Friday, hitting $242.67. 90,286 shares of the company were exchanged, compared to its average volume of 201,181. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.93. The Madison Square Garden has a 52 week low of $189.96 and a 52 week high of $254.50.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of The Madison Square Garden by 78.9% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 592 shares of the company’s stock valued at $127,000 after buying an additional 261 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of The Madison Square Garden during the fourth quarter valued at approximately $127,000. The Manufacturers Life Insurance Company grew its stake in shares of The Madison Square Garden by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock valued at $148,000 after buying an additional 40 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of The Madison Square Garden by 44.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the company’s stock valued at $237,000 after buying an additional 344 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in shares of The Madison Square Garden during the fourth quarter valued at approximately $332,000. 70.87% of the stock is currently owned by hedge funds and other institutional investors.
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About The Madison Square Garden
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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