Equities research analysts predict that Madison Square Garden Sports Corp. (NYSE:MSGS) will post $152.84 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Madison Square Garden Sports' earnings, with the lowest sales estimate coming in at $140.80 million and the highest estimate coming in at $158.90 million. Madison Square Garden Sports reported sales of $423.96 million in the same quarter last year, which indicates a negative year over year growth rate of 63.9%. The company is scheduled to issue its next quarterly earnings results on Monday, May 10th.
On average, analysts expect that Madison Square Garden Sports will report full-year sales of $367.96 million for the current year, with estimates ranging from $354.50 million to $377.39 million. For the next financial year, analysts forecast that the business will report sales of $747.20 million, with estimates ranging from $725.80 million to $771.90 million. Zacks' sales averages are an average based on a survey of research analysts that that provide coverage for Madison Square Garden Sports.
Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings data on Tuesday, February 2nd. The company reported ($1.68) earnings per share for the quarter, missing the consensus estimate of ($1.46) by ($0.22). The firm had revenue of $28.77 million during the quarter, compared to the consensus estimate of $25.24 million. Madison Square Garden Sports's revenue for the quarter was down 95.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.93 earnings per share.
Several research analysts have recently weighed in on the company. Barclays initiated coverage on Madison Square Garden Sports in a research report on Monday, January 11th. They set an "overweight" rating and a $224.00 price objective for the company. Macquarie upped their target price on Madison Square Garden Sports from $190.00 to $205.00 and gave the stock an "outperform" rating in a report on Thursday, February 4th. Zacks Investment Research lowered Madison Square Garden Sports from a "hold" rating to a "sell" rating in a report on Thursday, February 11th. Finally, Morgan Stanley upped their target price on Madison Square Garden Sports from $210.00 to $220.00 and gave the stock an "overweight" rating in a report on Tuesday, January 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company's stock. The stock presently has a consensus rating of "Buy" and a consensus price target of $205.89.
MSGS stock opened at $176.60 on Wednesday. The stock has a market capitalization of $4.26 billion, a P/E ratio of -32.46 and a beta of 1.00. The business has a 50-day moving average of $188.38 and a 200-day moving average of $180.54. Madison Square Garden Sports has a fifty-two week low of $140.15 and a fifty-two week high of $207.09.
Hedge funds and other institutional investors have recently made changes to their positions in the company. AdvisorNet Financial Inc purchased a new position in shares of Madison Square Garden Sports in the 4th quarter worth approximately $29,000. Alpha Paradigm Partners LLC bought a new stake in shares of Madison Square Garden Sports in the 4th quarter worth approximately $29,000. Private Capital Group LLC bought a new stake in shares of Madison Square Garden Sports in the 4th quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Madison Square Garden Sports in the 4th quarter worth approximately $31,000. Finally, Eudaimonia Partners LLC bought a new stake in shares of Madison Square Garden Sports in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.34% of the company's stock.
Madison Square Garden Sports Company Profile
Madison Square Garden Sports Corp. operates as a professional sports company. Its portfolio of assets include the New York Knickerbockers of the National Basketball Association (NBA), and the New York Rangers of the National Hockey League; two development league teams, including the Hartford Wolf Pack of the American Hockey League, and the Westchester Knicks of the NBA G League; Knicks Gaming, an esports franchise; and esports teams.
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