The Madison Square Garden Company (NYSE:MSGS) Receives $253.60 Consensus Price Target from Analysts

Key Points

• The Madison Square Garden Company has received a consensus recommendation of "Moderate Buy" from analysts, with an average price objective of $253.60.
• In its latest quarterly earnings report, Madison Square Garden surpassed estimates with earnings per share of ($0.07) and revenue of $203.96 million, though revenue was down 10.3% year-over-year.
• Institutional investors own 68.94% of Madison Square Garden's stock, reflecting robust interest among large holders.

The Madison Square Garden Company (NYSE:MSGS - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $258.8333.

Several research analysts have commented on the company. Citigroup assumed coverage on Madison Square Garden in a research report on Tuesday. They issued a "buy" rating and a $285.00 price target on the stock. Morgan Stanley lifted their price target on Madison Square Garden from $215.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 13th.

Madison Square Garden Stock Up 3.3%

NYSE MSGS traded up $6.63 during trading on Thursday, hitting $209.62. The company's stock had a trading volume of 127,276 shares, compared to its average volume of 157,096. The firm has a 50 day moving average price of $201.42 and a 200 day moving average price of $196.17. The firm has a market cap of $5.03 billion, a P/E ratio of -227.55 and a beta of 0.78. Madison Square Garden has a 52 week low of $173.26 and a 52 week high of $237.99.

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

Institutional Trading of Madison Square Garden

A number of institutional investors and hedge funds have recently modified their holdings of the company. Orion Porfolio Solutions LLC increased its position in shares of Madison Square Garden by 4.2% during the second quarter. Orion Porfolio Solutions LLC now owns 9,603 shares of the company's stock valued at $2,006,000 after purchasing an additional 390 shares during the period. Caxton Associates LLP bought a new stake in shares of Madison Square Garden during the second quarter valued at approximately $212,000. Public Sector Pension Investment Board increased its position in shares of Madison Square Garden by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 57,099 shares of the company's stock valued at $11,931,000 after purchasing an additional 4,021 shares during the period. Winslow Asset Management Inc. increased its position in shares of Madison Square Garden by 18.8% during the second quarter. Winslow Asset Management Inc. now owns 1,578 shares of the company's stock valued at $330,000 after purchasing an additional 250 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Madison Square Garden by 313.4% during the second quarter. Tower Research Capital LLC TRC now owns 401 shares of the company's stock valued at $84,000 after purchasing an additional 304 shares during the period. 68.94% of the stock is currently owned by institutional investors.

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.