MSG Knickerbockers (NYSE:MSGK) Stock Gets Price Target Cut from Morgan Stanley

MSG Knickerbockers (NYSE:MSGK) had its target price reduced by Morgan Stanley from $450.00 to $375.00 in a research note issued to investors on Tuesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on MSGK. Zacks Research cut MSG Knickerbockers from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. Wolfe Research upgraded shares of MSG Knickerbockers from a “peer perform” rating to an “outperform” rating in a report on Wednesday, November 4th. Guggenheim reduced their price target on shares of MSG Knickerbockers from $584.00 to $445.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. Finally, Weiss Ratings assumed coverage on shares of MSG Knickerbockers in a research note on Wednesday, October 28th. They set a “hold (c)” rating for the company. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $410.00.

MSG Knickerbockers Stock Down 2.4%

MSGK stock opened at $314.95 on Tuesday. MSG Knickerbockers has a 12-month low of $210.90 and a 12-month high of $438.93.

MSG Knickerbockers (NYSE:MSGK) last released its quarterly earnings data on Friday, November 6th. The company reported ($1.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.11). The firm had revenue of $45.49 million during the quarter, compared to analysts’ expectations of $39.78 million. MSG Knickerbockers had a negative return on equity of 3.47% and a negative net margin of 1.26%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. Equities research analysts forecast that MSG Knickerbockers will post -0.58 EPS for the current fiscal year.

MSG Knickerbockers Company Profile

MSG Knickerbockers, Inc. is the corporate entity associated with the New York Knicks, the National Basketball Association (NBA) franchise based at Madison Square Garden in New York City. The organization’s primary activities include operating and managing the professional basketball team, organizing games and related events, and developing commercial opportunities connected with the Knicks brand. The Knicks generate business through ticket sales, premium seating, sponsorships, media and broadcasting arrangements, merchandising, licensing, and other fan-focused products and services.