Susquehanna Increases Madison Square Garden (NYSE:MSGS) Price Target to $429.00

Madison Square Garden (NYSE:MSGS) had its price objective raised by analysts at Susquehanna from $404.00 to $429.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective indicates a potential upside of 16.91% from the stock’s current price.

A number of other research analysts have also recently issued reports on MSGS. JPMorgan Chase & Co. raised their price target on shares of Madison Square Garden from $240.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Weiss Ratings raised shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, March 27th. Guggenheim upped their target price on Madison Square Garden from $401.00 to $422.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Seaport Research Partners lifted their price target on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Citigroup boosted their price target on Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $347.20.

Madison Square Garden Stock Up 0.2%

MSGS opened at $366.95 on Thursday. The company has a market cap of $8.84 billion, a P/E ratio of -394.03 and a beta of 0.59. The firm’s 50-day moving average price is $332.89 and its 200-day moving average price is $290.54. Madison Square Garden has a 52-week low of $186.00 and a 52-week high of $370.00.

Madison Square Garden (NYSE:MSGS) last released its earnings results on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company had revenue of $432.20 million for the quarter, compared to the consensus estimate of $429.66 million. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.59) EPS. On average, research analysts anticipate that Madison Square Garden will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Madison Square Garden by 67.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 699,378 shares of the company’s stock worth $180,895,000 after acquiring an additional 282,318 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Madison Square Garden by 8.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 648,515 shares of the company’s stock valued at $167,739,000 after purchasing an additional 49,412 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Madison Square Garden by 1.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 613,391 shares of the company’s stock worth $158,654,000 after purchasing an additional 6,873 shares during the period. State Street Corp raised its holdings in Madison Square Garden by 3.0% in the 4th quarter. State Street Corp now owns 538,404 shares of the company’s stock worth $139,258,000 after purchasing an additional 15,656 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Madison Square Garden by 0.4% during the third quarter. Victory Capital Management Inc. now owns 455,042 shares of the company’s stock worth $103,295,000 after purchasing an additional 1,688 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

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.