The Madison Square Garden Company (NYSE:MSGS - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $191.11, but opened at $201.34. Madison Square Garden shares last traded at $199.97, with a volume of 61,804 shares.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on MSGS. Guggenheim restated a "buy" rating and set a $314.00 price target on shares of Madison Square Garden in a research note on Tuesday, May 6th. Macquarie raised their price target on shares of Madison Square Garden from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th. Susquehanna initiated coverage on shares of Madison Square Garden in a research note on Monday, April 28th. They set a "positive" rating and a $254.00 price objective for the company. Morgan Stanley cut their target price on Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their price target on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $252.60.
Read Our Latest Report on Madison Square Garden
Madison Square Garden Stock Performance
The firm's 50 day simple moving average is $191.29 and its 200 day simple moving average is $203.25. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 965.93 and a beta of 0.77.
Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). The business had revenue of $424.20 million for the quarter, compared to analyst estimates of $436.84 million. Madison Square Garden had a net margin of 0.45% and a negative return on equity of 1.76%. The company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 earnings per share. As a group, sell-side analysts forecast that The Madison Square Garden Company will post 0.73 earnings per share for the current year.
Institutional Trading of Madison Square Garden
Hedge funds have recently modified their holdings of the stock. Bayforest Capital Ltd acquired a new position in Madison Square Garden in the first quarter valued at approximately $566,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Madison Square Garden by 13.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,822 shares of the company's stock valued at $9,701,000 after purchasing an additional 5,896 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Madison Square Garden by 10.8% in the 1st quarter. Empowered Funds LLC now owns 2,055 shares of the company's stock valued at $400,000 after purchasing an additional 200 shares during the period. United Services Automobile Association purchased a new stake in Madison Square Garden during the first quarter worth $210,000. Finally, Clearline Capital LP grew its position in Madison Square Garden by 3.6% during the first quarter. Clearline Capital LP now owns 97,691 shares of the company's stock valued at $19,022,000 after buying an additional 3,400 shares during the period. Hedge funds and other institutional investors own 68.94% of the company's stock.
Madison Square Garden Company Profile
(
Get Free Report)
Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.
See Also
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