Brokerages Set The Madison Square Garden Company (NYSE:MSGS) Price Target at $260.50

The Madison Square Garden Company (NYSE:MSGS) has been given a consensus recommendation of “Hold” by the ten brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $261.3333.

A number of equities research analysts have recently commented on MSGS shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday. Wolfe Research downgraded Madison Square Garden from an “outperform” rating to a “hold” rating in a research note on Monday, December 15th. Zacks Research upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Citigroup boosted their target price on Madison Square Garden from $285.00 to $290.00 and gave the company a “buy” rating in a report on Tuesday. Finally, BTIG Research initiated coverage on Madison Square Garden in a report on Tuesday, October 7th. They set a “neutral” rating for the company.

Institutional Trading of Madison Square Garden

Several hedge funds and other institutional investors have recently made changes to their positions in MSGS. Norges Bank purchased a new position in Madison Square Garden during the second quarter worth about $39,215,000. Bollard Group LLC acquired a new position in Madison Square Garden during the 2nd quarter worth approximately $25,283,000. Scopus Asset Management L.P. acquired a new position in Madison Square Garden during the 2nd quarter worth approximately $14,787,000. Nuveen LLC purchased a new position in shares of Madison Square Garden during the 1st quarter worth approximately $8,585,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Madison Square Garden by 1,021.4% in the 2nd quarter. SG Americas Securities LLC now owns 48,333 shares of the company’s stock valued at $10,099,000 after buying an additional 44,023 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Up 3.6%

MSGS opened at $246.90 on Friday. Madison Square Garden has a 52 week low of $173.26 and a 52 week high of $247.52. The business’s 50 day moving average is $223.91 and its two-hundred day moving average is $211.43. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of -251.94 and a beta of 0.66.

Madison Square Garden (NYSE:MSGS) last announced its earnings results on Friday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.67. The business had revenue of $39.45 million for the quarter, compared to analyst estimates of $41.41 million. Madison Square Garden had a negative net margin of 2.31% and a negative return on equity of 1.76%. The company’s revenue for the quarter was down 26.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.31) earnings per share. Equities analysts expect that Madison Square Garden will post 0.73 EPS for the current fiscal 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.