Wall Street brokerages expect The Madison Square Garden Company (NYSE:MSG) to announce sales of $518.29 million for the current quarter, Zacks reports. Two analysts have provided estimates for The Madison Square Garden’s earnings, with the lowest sales estimate coming in at $511.90 million and the highest estimate coming in at $524.68 million. The Madison Square Garden reported sales of $445.15 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.4%. The firm is scheduled to issue its next earnings results on Friday, February 2nd.

On average, analysts expect that The Madison Square Garden will report full-year sales of $518.29 million for the current financial year, with estimates ranging from $1.50 billion to $1.53 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.58 billion per share, with estimates ranging from $1.56 billion to $1.60 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow The Madison Square Garden.

The Madison Square Garden (NYSE:MSG) last issued its quarterly earnings data on Friday, November 3rd. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.18. The Madison Square Garden had a negative net margin of 4.00% and a negative return on equity of 1.75%. The company had revenue of $245.04 million for the quarter, compared to analysts’ expectations of $237.06 million. During the same quarter in the previous year, the firm posted ($1.19) earnings per share. The Madison Square Garden’s revenue for the quarter was up 34.9% on a year-over-year basis.

Several brokerages recently weighed in on MSG. Zacks Investment Research cut shares of The Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Thursday. Loop Capital boosted their price objective on shares of The Madison Square Garden from $266.00 to $268.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Jefferies Group LLC reissued a “hold” rating and issued a $200.00 price objective on shares of The Madison Square Garden in a research note on Tuesday, October 24th. BTIG Research set a $260.00 price objective on shares of The Madison Square Garden and gave the stock a “buy” rating in a research note on Monday, September 11th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $245.00 price objective (up previously from $215.00) on shares of The Madison Square Garden in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $217.78.

Institutional investors and hedge funds have recently modified their holdings of the business. Quinn Opportunity Partners LLC boosted its position in The Madison Square Garden by 119.3% during the second quarter. Quinn Opportunity Partners LLC now owns 17,540 shares of the company’s stock valued at $3,454,000 after acquiring an additional 9,540 shares during the last quarter. First Trust Advisors LP boosted its position in The Madison Square Garden by 77.2% during the second quarter. First Trust Advisors LP now owns 28,852 shares of the company’s stock valued at $5,681,000 after acquiring an additional 12,573 shares during the last quarter. Chicago Equity Partners LLC bought a new stake in The Madison Square Garden during the second quarter valued at $1,410,000. Cowen Inc. bought a new stake in The Madison Square Garden during the second quarter valued at $1,119,000. Finally, GAM Holding AG boosted its position in The Madison Square Garden by 77.5% during the second quarter. GAM Holding AG now owns 13,658 shares of the company’s stock valued at $2,689,000 after acquiring an additional 5,964 shares during the last quarter. 70.96% of the stock is currently owned by institutional investors and hedge funds.

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Shares of The Madison Square Garden (NYSE MSG) traded down $0.06 during trading on Friday, hitting $229.63. 96,000 shares of the company traded hands, compared to its average volume of 236,784. The company has a current ratio of 1.92, a quick ratio of 1.90 and a debt-to-equity ratio of 0.04. The Madison Square Garden has a one year low of $166.86 and a one year high of $231.44.

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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