Equities research analysts predict that The Madison Square Garden Company (NYSE:MSG) will report $277.65 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for The Madison Square Garden’s earnings. The highest sales estimate is $278.30 million and the lowest is $277.00 million. The Madison Square Garden posted sales of $217.76 million during the same quarter last year, which suggests a positive year-over-year growth rate of 27.5%. The firm is expected to announce its next earnings report before the market opens on Thursday, August 17th.

On average, analysts expect that The Madison Square Garden will report full year sales of $277.65 million for the current fiscal year, with estimates ranging from $1.29 billion to $1.33 billion. For the next year, analysts forecast that the business will report sales of $1.51 billion per share, with estimates ranging from $1.48 billion to $1.55 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for The Madison Square Garden.

A number of equities analysts have recently weighed in on MSG shares. BTIG Research reaffirmed a “buy” rating and set a $260.00 price target (up from $240.00) on shares of The Madison Square Garden in a research note on Tuesday, July 25th. Bank of America Corporation started coverage on shares of The Madison Square Garden in a research note on Tuesday, May 2nd. They set a “buy” rating and a $243.00 price target on the stock. Citigroup Inc. lowered their price target on shares of The Madison Square Garden from $102.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, May 8th. Jefferies Group LLC reaffirmed a “hold” rating and set a $185.00 price target on shares of The Madison Square Garden in a research note on Monday, May 15th. Finally, Zacks Investment Research cut shares of The Madison Square Garden from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $204.91.

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Shares of The Madison Square Garden (NYSE MSG) traded down 0.32% during mid-day trading on Thursday, hitting $215.26. 108,850 shares of the stock traded hands. The firm’s 50 day moving average price is $205.32 and its 200 day moving average price is $195.38. The Madison Square Garden has a 12-month low of $160.96 and a 12-month high of $223.06. The firm’s market cap is $5.07 billion.

Large investors have recently modified their holdings of the stock. South State Corp acquired a new stake in shares of The Madison Square Garden during the second quarter worth approximately $203,000. Cowen Inc. acquired a new stake in shares of The Madison Square Garden during the second quarter worth approximately $1,119,000. Columbia Asset Management boosted its stake in shares of The Madison Square Garden by 142.9% in the second quarter. Columbia Asset Management now owns 3,777 shares of the company’s stock worth $743,000 after buying an additional 2,222 shares during the last quarter. Elgethun Capital Management boosted its stake in shares of The Madison Square Garden by 0.9% in the second quarter. Elgethun Capital Management now owns 9,989 shares of the company’s stock worth $1,967,000 after buying an additional 94 shares during the last quarter. Finally, Martingale Asset Management L P boosted its stake in shares of The Madison Square Garden by 37.2% in the second quarter. Martingale Asset Management L P now owns 5,901 shares of the company’s stock worth $1,162,000 after buying an additional 1,600 shares during the last quarter. 85.22% of the stock is currently owned by hedge funds and other institutional investors.

The Madison Square Garden Company Profile

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

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Earnings History and Estimates for The Madison Square Garden (NYSE:MSG)

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