The Madison Square Garden Company (NYSE:MSGS) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts give Madison Square Garden a consensus “Hold” rating: Five analysts recommend holding the stock, while four rate it a buy. The average 12-month price target is $471.20.
• Recent analyst actions were mixed, with Guggenheim raising its target to $584 and maintaining a buy rating, while Wall Street Zen downgraded the stock to sell.
• Madison Square Garden reported quarterly revenue of $278.75 million, up 36.6% year over year, and earnings of $1.16 per share, beating estimates of $0.64. Institutional investors own approximately 68.94% of the company.

The Madison Square Garden Company (NYSE:MSGS - Get Free Report) has been given a consensus recommendation of "Hold" by the nine research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $471.20.

MSGS has been the topic of several analyst reports. Wall Street Zen lowered shares of Madison Square Garden from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Seaport Research Partners increased their price objective on Madison Square Garden from $430.00 to $435.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Susquehanna raised their price objective on Madison Square Garden from $430.00 to $477.00 and gave the stock a "positive" rating in a research report on Friday, August 14th. Citigroup boosted their target price on Madison Square Garden from $355.00 to $360.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 13th. Finally, Guggenheim upped their target price on Madison Square Garden from $522.00 to $584.00 and gave the company a "buy" rating in a research report on Friday, August 14th.

Institutional Investors Weigh In On Madison Square Garden

Large investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new position in shares of Madison Square Garden in the 4th quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd grew its position in Madison Square Garden by 67.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company's stock worth $32,000 after purchasing an additional 49 shares during the last quarter. SJS Investment Consulting Inc. grew its position in Madison Square Garden by 488.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 100 shares of the company's stock worth $32,000 after purchasing an additional 83 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Madison Square Garden by 1,150.0% in the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company's stock worth $32,000 after buying an additional 115 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in shares of Madison Square Garden by 33.1% in the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company's stock worth $40,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company's stock.

Madison Square Garden Stock Performance

NYSE:MSGS opened at $402.68 on Thursday. The company's 50-day simple moving average is $391.03 and its 200-day simple moving average is $350.53. Madison Square Garden has a fifty-two week low of $193.87 and a fifty-two week high of $438.93. The stock has a market capitalization of $9.70 billion, a P/E ratio of 1,342.31 and a beta of 0.62.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.64 by $0.52. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The firm had revenue of $278.75 million during the quarter, compared to analyst estimates of $227.67 million. During the same quarter in the previous year, the business posted ($0.07) EPS. Madison Square Garden's revenue was up 36.6% on a year-over-year basis. On average, research analysts forecast that Madison Square Garden will post -0.74 EPS for the current year.

Madison Square Garden Company Profile

Madison Square Garden Sports Corp NYSE: MSGS is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA's New York Knicks, the NHL's New York Rangers and the WNBA's New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.

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