The Madison Square Garden Company (NYSE:MSGS) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• The Madison Square Garden Company (NYSE:MSGS) has received a consensus recommendation of "Moderate Buy" from six brokerages, with one hold rating and five buy ratings.
• Citigroup set a price target of $285.00 after initiating coverage, while Morgan Stanley raised its target from $215.00 to $220.00.
• MSGS reported a quarterly earnings per share of ($0.07), outperforming analysts' expectations by $0.35, with revenue totaling $203.96 million.

The Madison Square Garden Company (NYSE:MSGS - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $258.8333.

MSGS has been the subject of a number of recent research reports. Citigroup initiated coverage on shares of Madison Square Garden in a research note on Tuesday, September 9th. They issued a "buy" rating and a $285.00 price target for the company. Morgan Stanley lifted their price target on shares of Madison Square Garden from $215.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th.

Institutional Trading of Madison Square Garden

Several institutional investors have recently modified their holdings of the stock. Pinnacle Wealth Management Advisory Group LLC grew its position in Madison Square Garden by 1.7% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,663 shares of the company's stock valued at $765,000 after acquiring an additional 60 shares in the last quarter. Westside Investment Management Inc. grew its position in Madison Square Garden by 9.0% in the second quarter. Westside Investment Management Inc. now owns 784 shares of the company's stock valued at $164,000 after acquiring an additional 65 shares in the last quarter. Marest Capital LLC grew its position in Madison Square Garden by 4.1% in the first quarter. Marest Capital LLC now owns 1,751 shares of the company's stock valued at $341,000 after acquiring an additional 69 shares in the last quarter. Fifth Third Bancorp grew its position in Madison Square Garden by 59.5% in the second quarter. Fifth Third Bancorp now owns 185 shares of the company's stock valued at $39,000 after acquiring an additional 69 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. grew its position in Madison Square Garden by 2.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 2,873 shares of the company's stock valued at $559,000 after acquiring an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company's stock.

Madison Square Garden Stock Performance

Shares of MSGS stock opened at $224.10 on Monday. The stock has a market capitalization of $5.38 billion, a P/E ratio of -243.59 and a beta of 0.78. The company has a 50 day moving average price of $203.76 and a 200 day moving average price of $197.89. Madison Square Garden has a fifty-two week low of $173.26 and a fifty-two week high of $237.99.

Madison Square Garden (NYSE:MSGS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.42) by $0.35. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The firm had revenue of $203.96 million during the quarter, compared to analysts' expectations of $151.00 million. During the same quarter in the previous year, the business posted $1.06 earnings per share. The business's quarterly revenue was down 10.3% compared to the same quarter last year. On average, research analysts forecast that Madison Square Garden will post 0.73 EPS for the current fiscal year.

About Madison Square Garden

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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