The Madison Square Garden Company (NYSE:MSGS) Given Average Recommendation of "Moderate Buy" by 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 received a consensus recommendation of "Moderate Buy" from the five ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $253.60.

Separately, Morgan Stanley increased their price objective on shares of 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 Price Performance

Shares of MSGS traded up $0.07 during trading hours on Thursday, hitting $196.16. 157,689 shares of the stock were exchanged, compared to its average volume of 216,822. Madison Square Garden has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The business has a 50-day moving average of $201.55 and a 200-day moving average of $196.24. The firm has a market capitalization of $4.71 billion, a P/E ratio of -213.22 and a beta of 0.78.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $203.96 million during the quarter, compared to analysts' expectations of $151.00 million. During the same period in the prior year, the company posted $1.06 earnings per share. Madison Square Garden's revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, analysts forecast that Madison Square Garden will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Madison Square Garden

Large investors have recently bought and sold shares of the stock. Putney Financial Group LLC acquired a new stake in Madison Square Garden in the fourth quarter worth $28,000. Fifth Third Bancorp grew its holdings in shares of Madison Square Garden by 59.5% during the second quarter. Fifth Third Bancorp now owns 185 shares of the company's stock valued at $39,000 after buying an additional 69 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Madison Square Garden during the fourth quarter valued at about $43,000. Tower Research Capital LLC TRC grew its holdings 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 buying an additional 304 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Madison Square Garden by 35.5% during the first quarter. Covestor Ltd now owns 416 shares of the company's stock valued at $81,000 after buying an additional 109 shares during the last quarter. 68.94% of the stock is currently 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.