Shares of Madison Square Garden Co (NYSE:MSG) have been assigned a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $333.14.
MSG has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on shares of Madison Square Garden from $260.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Imperial Capital assumed coverage on shares of Madison Square Garden in a research report on Tuesday, August 21st. They issued an “outperform” rating and a $372.00 target price for the company. Guggenheim increased their target price on shares of Madison Square Garden to $350.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Zacks Investment Research upgraded shares of Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Finally, Macquarie reiterated a “buy” rating and issued a $356.00 target price on shares of Madison Square Garden in a research report on Tuesday, October 30th.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. grew its position in Madison Square Garden by 33.3% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 77,618 shares of the company’s stock valued at $24,475,000 after buying an additional 19,383 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of Madison Square Garden during the 3rd quarter valued at about $694,000. WINTON GROUP Ltd boosted its position in shares of Madison Square Garden by 22.2% during the 3rd quarter. WINTON GROUP Ltd now owns 2,887 shares of the company’s stock valued at $910,000 after purchasing an additional 524 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Madison Square Garden by 130.3% during the 3rd quarter. Wells Fargo & Company MN now owns 155,066 shares of the company’s stock valued at $48,896,000 after purchasing an additional 87,727 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Madison Square Garden by 477.6% during the 3rd quarter. Comerica Bank now owns 4,211 shares of the company’s stock valued at $1,186,000 after purchasing an additional 3,482 shares in the last quarter. Hedge funds and other institutional investors own 70.40% of the company’s stock.
Shares of MSG stock traded up $10.31 during trading hours on Monday, reaching $272.40. The stock had a trading volume of 6,314 shares, compared to its average volume of 336,198. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Madison Square Garden has a twelve month low of $205.22 and a twelve month high of $330.00. The stock has a market cap of $6.20 billion, a PE ratio of 45.80, a price-to-earnings-growth ratio of 11.43 and a beta of 0.70.
Madison Square Garden (NYSE:MSG) last released its quarterly earnings data on Thursday, November 1st. The company reported ($1.36) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.13) by $0.77. Madison Square Garden had a net margin of 7.86% and a return on equity of 0.27%. The business had revenue of $218.14 million for the quarter, compared to analysts’ expectations of $211.48 million. During the same quarter last year, the company earned ($0.47) EPS. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. Equities analysts forecast that Madison Square Garden will post 0.89 EPS for the current fiscal year.
About Madison Square Garden
The Madison Square Garden Company, together with its subsidiaries, engages in live 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; and promotes, produces, and/or presents an array 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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