The Madison Square Garden Company (NYSE:MSGS) Receives Average Recommendation of “Hold” from Analysts

The Madison Square Garden Company (NYSE:MSGS) has received a consensus rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have given 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 $442.40.

MSGS has been the subject of a number of analyst reports. Guggenheim lifted their price target on Madison Square Garden from $470.00 to $522.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Wall Street Zen raised Madison Square Garden from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Seaport Research Partners increased their price objective on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Morgan Stanley upgraded Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 target price on the stock in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lifted their target price on Madison Square Garden from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st.

Hedge Funds Weigh In On Madison Square Garden

Large investors have recently bought and sold shares of the stock. Gabelli Funds LLC lifted its position in shares of Madison Square Garden by 0.9% during the fourth quarter. Gabelli Funds LLC now owns 394,292 shares of the company’s stock valued at $101,984,000 after purchasing an additional 3,607 shares in the last quarter. M&T Bank Corp boosted its holdings in Madison Square Garden by 1,394.6% during the fourth quarter. M&T Bank Corp now owns 16,396 shares of the company’s stock worth $4,241,000 after purchasing an additional 15,299 shares during the last quarter. Assetmark Inc. grew its position in Madison Square Garden by 38.7% in the 4th quarter. Assetmark Inc. now owns 11,794 shares of the company’s stock worth $3,051,000 after purchasing an additional 3,288 shares in the last quarter. Gamco Investors INC. ET AL grew its position 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 in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Madison Square Garden by 46.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 19,162 shares of the company’s stock valued at $4,956,000 after buying an additional 6,041 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Trading Down 2.7%

Madison Square Garden stock opened at $394.28 on Friday. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of -423.95 and a beta of 0.61. The firm’s fifty day moving average price is $385.14 and its two-hundred day moving average price is $339.64. Madison Square Garden has a 1-year low of $188.60 and a 1-year high of $411.73.

Madison Square Garden (NYSE:MSGS) last posted its earnings results on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of $0.56 by ($1.39). The firm had revenue of $432.20 million for the quarter, compared to the consensus estimate of $429.66 million. During the same period in the previous year, the firm posted ($0.59) earnings per share. Madison Square Garden’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts forecast that Madison Square Garden will post -0.06 EPS for the current 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.