Madison Square Garden Sports (NYSE:MSGS) Announces Quarterly Earnings Results, Misses Estimates By $2.07 EPS

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) posted its earnings results on Friday. The company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07), RTT News reports. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The firm had revenue of $424.20 million for the quarter, compared to the consensus estimate of $436.84 million. During the same period last year, the company posted $1.57 EPS. The business's revenue was down 1.3% on a year-over-year basis.

Madison Square Garden Sports Price Performance

MSGS stock opened at $187.79 on Friday. The firm has a 50 day simple moving average of $192.36 and a two-hundred day simple moving average of $210.66. The stock has a market cap of $4.51 billion, a PE ratio of 79.24 and a beta of 0.81. Madison Square Garden Sports has a one year low of $173.26 and a one year high of $237.99.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $189.92, for a total value of $6,044,204.00. Following the completion of the sale, the insider now owns 5,097 shares in the company, valued at $968,022.24. The trade was a 86.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 22.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MSGS. Susquehanna initiated coverage on Madison Square Garden Sports in a research report on Monday, April 28th. They issued a "positive" rating and a $254.00 price objective on the stock. Macquarie raised their price target on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, February 25th.

Madison Square Garden Sports Company Profile

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.

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