The Madison Square Garden Company (NYSE:MSGS) Receives Average Rating of "Moderate Buy" from Analysts

The Madison Square Garden Company (NYSE:MSGS - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $252.60.

Several research analysts recently weighed in on MSGS shares. Morgan Stanley dropped their price target 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. Guggenheim reaffirmed a "buy" rating and issued a $314.00 target price on shares of Madison Square Garden in a research report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, Susquehanna assumed coverage on Madison Square Garden in a research report on Monday, April 28th. They issued a "positive" rating and a $254.00 target price on the stock.

Madison Square Garden Stock Performance

Shares of NYSE MSGS traded down $2.00 during trading on Wednesday, reaching $208.42. The stock had a trading volume of 178,460 shares, compared to its average volume of 126,137. Madison Square Garden has a one year low of $173.26 and a one year high of $237.99. The stock has a market cap of $5.00 billion, a PE ratio of 992.52 and a beta of 0.79. The firm's 50 day moving average price is $197.88 and its two-hundred day moving average price is $200.18.

Madison Square Garden (NYSE:MSGS - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($2.07). The business had revenue of $424.20 million during the quarter, compared to the consensus estimate of $436.84 million. Madison Square Garden had a negative return on equity of 1.76% and a net margin of 0.45%. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.57 EPS. On average, research analysts expect that Madison Square Garden will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On Madison Square Garden

A number of hedge funds have recently modified their holdings of MSGS. Advisors Capital Management LLC increased its holdings in Madison Square Garden by 0.5% during the 4th quarter. Advisors Capital Management LLC now owns 10,606 shares of the company's stock valued at $2,394,000 after purchasing an additional 48 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Madison Square Garden by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 8,172 shares of the company's stock valued at $1,844,000 after buying an additional 50 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Madison Square Garden by 9.2% in the 4th quarter. Quadrant Capital Group LLC now owns 650 shares of the company's stock valued at $147,000 after buying an additional 55 shares during the period. NewEdge Advisors LLC increased its stake in shares of Madison Square Garden by 2.2% in the 4th quarter. NewEdge Advisors LLC now owns 2,914 shares of the company's stock valued at $658,000 after buying an additional 62 shares during the period. Finally, Marest Capital LLC increased its stake in shares of Madison Square Garden by 4.1% in the 1st quarter. Marest Capital LLC now owns 1,751 shares of the company's stock valued at $341,000 after buying an additional 69 shares during the period. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden 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.