The Madison Square Garden Co. (MSG) Shares Gap Up to $175.42
The Madison Square Garden Co. (NYSE:MSG) shares gapped up before the market opened on Monday . The stock had previously closed at $174.78, but opened at $175.42. The Madison Square Garden shares last traded at $177.98, with a volume of 44,292 shares.
Several research firms have weighed in on MSG. FBN Securities began coverage on shares of The Madison Square Garden in a report on Wednesday, May 4th. They set an “outperform” rating and a $240.77 price objective on the stock. Zacks Investment Research downgraded shares of The Madison Square Garden from a “hold” rating to a “sell” rating in a report on Thursday, May 12th. Albert Fried & Company restated a “market perform” rating on shares of The Madison Square Garden in a report on Monday, May 2nd. Finally, Pacific Crest restated an “equal weight” rating on shares of The Madison Square Garden in a report on Friday, April 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The Madison Square Garden has an average rating of “Hold” and a consensus target price of $123.71.
The company’s market capitalization is $4.37 billion. The firm’s 50-day moving average is $171.21 and its 200-day moving average is $161.67.
The Madison Square Garden (NYSE:MSG) last released its quarterly earnings results on Friday, May 6th. The company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($0.35) by $2.12. The company had revenue of $336.30 million for the quarter, compared to analyst estimates of $325.40 million. During the same quarter in the prior year, the business posted $0.51 EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts forecast that The Madison Square Garden Co. will post ($1.80) EPS for the current year.
The Madison Square Garden Company, formerly MSG Spinco, Inc, is engaged in sports and entertainment business. The Company operates through two segments: MSG Sports and MSG Entertainment. MSG Sports segment includes sports business, which owns and operates the sports franchises, such as the New York Knicks (the Knicks) of the National Basketball Association (the NBA) and the New York Rangers (the Rangers) of the National Hockey League (the NHL).
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