Madison Square Garden Sports (NYSE:MSGS) Issues Earnings Results

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) issued its earnings results on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing the consensus estimate 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 company had revenue of $424.20 million during the quarter, compared to the consensus estimate of $436.84 million. During the same quarter in the prior year, the business earned $1.57 EPS. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year.

Madison Square Garden Sports Price Performance

Shares of NYSE:MSGS traded up $1.20 during trading on Friday, hitting $192.11. 75,129 shares of the company's stock were exchanged, compared to its average volume of 113,348. The business's 50-day simple moving average is $191.41 and its 200 day simple moving average is $209.93. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 81.06 and a beta of 0.78. Madison Square Garden Sports has a 52-week low of $173.26 and a 52-week high of $237.99.

Analysts Set New Price Targets

MSGS has been the subject of several research reports. Morgan Stanley cut their target price on Madison Square Garden Sports from $235.00 to $215.00 and set an "equal weight" rating for the company in a research note on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Monday. Susquehanna started coverage on Madison Square Garden Sports in a report on Monday, April 28th. They issued a "positive" rating and a $254.00 price objective for the company. Guggenheim restated a "buy" rating and issued a $314.00 price target on shares of Madison Square Garden Sports in a research note on Tuesday. Finally, Macquarie increased their target price on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $252.60.

Insider Buying and Selling at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company'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 transaction of $6,044,204.00. Following the sale, the insider now directly owns 5,097 shares of the company's stock, valued at $968,022.24. This represents a 86.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.10% of the company's stock.

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.