The Madison Square Garden Company (NYSE:MSGS) Stock Has Average Price Target of $471.20 According to Analysts

The Madison Square Garden Company (NYSE:MSGS) has received an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $471.20.

MSGS has been the topic of several research analyst reports. Weiss Ratings upgraded Madison Square Garden from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 14th. Susquehanna raised their target price on Madison Square Garden from $430.00 to $477.00 and gave the company a “positive” rating in a report on Friday, August 14th. Guggenheim lifted their target price on Madison Square Garden from $522.00 to $584.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Wall Street Zen raised Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Sunday, August 23rd. Finally, Zacks Research upgraded shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th.

Madison Square Garden Stock Performance

NYSE:MSGS opened at $403.26 on Friday. Madison Square Garden has a fifty-two week low of $207.90 and a fifty-two week high of $438.93. The company has a 50 day moving average price of $398.32 and a 200 day moving average price of $374.41. The stock has a market capitalization of $9.71 billion, a P/E ratio of 1,344.23 and a beta of 0.62.

Madison Square Garden (NYSE:MSGS) last announced its earnings results on Thursday, August 13th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.52. Madison Square Garden had a negative return on equity of 3.47% and a net margin of 0.67%. The company had revenue of $278.75 million for the quarter, compared to analyst estimates of $227.67 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The firm’s quarterly revenue was up 36.6% compared to the same quarter last year. Research analysts forecast that Madison Square Garden will post -1.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MSGS. Renaissance Technologies LLC increased its stake in Madison Square Garden by 45.9% during the 1st quarter. Renaissance Technologies LLC now owns 172,000 shares of the company’s stock worth $55,281,000 after buying an additional 54,100 shares during the period. Quantinno Capital Management LP lifted its holdings in Madison Square Garden by 76.5% during the 1st quarter. Quantinno Capital Management LP now owns 104,312 shares of the company’s stock worth $33,526,000 after buying an additional 45,223 shares in the last quarter. KBC Group NV boosted its position in Madison Square Garden by 5,609.4% in the 1st quarter. KBC Group NV now owns 30,488 shares of the company’s stock valued at $9,799,000 after buying an additional 29,954 shares during the period. Edgestream Partners L.P. purchased a new position in Madison Square Garden in the 1st quarter valued at approximately $7,110,000. Finally, Hsbc Holdings PLC purchased a new position in Madison Square Garden in the 4th quarter valued at approximately $5,596,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

About Madison Square Garden

Madison Square Garden Sports Corp. (NYSE:MSGS) is a professional sports and entertainment company based in New York. Its principal assets are the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League.

The company also owns and operates related sports properties, including the NBA G League’s Westchester Knicks, the American Hockey League’s Hartford Wolf Pack and the NBA 2K League’s Knicks Gaming. Its business activities include team operations, ticket sales, sponsorships, licensing, merchandise and other commercial rights associated with its sports franchises.

Madison Square Garden Sports primarily serves fans and commercial partners in the New York metropolitan area while its teams compete in national leagues with audiences throughout the United States and internationally.