Macquarie upgraded shares of Madison Square Garden (NYSE:MSG) from a neutral rating to an outperform rating in a research report released on Friday, Marketbeat reports.
MSG has been the subject of a number of other reports. Zacks Investment Research cut shares of Madison Square Garden from a strong-buy rating to a hold rating in a report on Tuesday, May 8th. TheStreet cut shares of Madison Square Garden from a b- rating to a c- rating in a report on Wednesday, May 2nd. Morgan Stanley upped their target price on shares of Madison Square Garden from $245.00 to $260.00 and gave the company an equal weight rating in a report on Wednesday, May 2nd. Jefferies Financial Group raised shares of Madison Square Garden from a hold rating to a buy rating and upped their target price for the company from $233.00 to $350.00 in a report on Thursday, June 28th. Finally, ValuEngine raised shares of Madison Square Garden from a buy rating to a strong-buy rating in a report on Thursday, June 28th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Madison Square Garden currently has an average rating of Buy and a consensus target price of $283.20.
Shares of Madison Square Garden stock opened at $321.37 on Friday. The company has a market cap of $7.34 billion, a P/E ratio of -289.52, a P/E/G ratio of 8.68 and a beta of 0.46. Madison Square Garden has a twelve month low of $189.96 and a twelve month high of $323.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.85 and a current ratio of 1.85.
Madison Square Garden (NYSE:MSG) last announced its earnings results on Wednesday, May 2nd. The company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.63. Madison Square Garden had a net margin of 6.68% and a return on equity of 0.07%. The business had revenue of $459.60 million during the quarter, compared to analysts’ expectations of $446.89 million. During the same period in the prior year, the company earned ($0.74) earnings per share. The firm’s revenue was up 19.1% on a year-over-year basis. research analysts anticipate that Madison Square Garden will post 1.39 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. purchased a new stake in Madison Square Garden during the first quarter valued at approximately $190,000. Griffin Asset Management Inc. purchased a new stake in shares of Madison Square Garden in the first quarter worth $204,000. Levin Capital Strategies L.P. purchased a new stake in shares of Madison Square Garden in the first quarter worth $208,000. CIBC World Markets Inc. purchased a new stake in shares of Madison Square Garden in the first quarter worth $231,000. Finally, Chicago Equity Partners LLC purchased a new stake in shares of Madison Square Garden in the first quarter worth $238,000. 71.02% of the stock is owned by institutional investors and hedge funds.
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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