Madison Square Garden (NYSE:MSGS) Posts Earnings Results, Misses Estimates By $0.20 EPS

Madison Square Garden (NYSE:MSGS) released its quarterly earnings results on Friday. The company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.20), FiscalAI reports. Madison Square Garden had a negative return on equity of 3.47% and a net margin of 0.67%. The business had revenue of $45.49 million during the quarter, compared to the consensus estimate of $40.67 million.

Madison Square Garden Price Performance

MSGS traded up $2.86 during trading hours on Friday, reaching $387.25. The company’s stock had a trading volume of 261,295 shares, compared to its average volume of 384,217. The business’s 50-day moving average is $396.46 and its 200-day moving average is $360.82. The stock has a market cap of $9.32 billion, a PE ratio of 1,290.87 and a beta of 0.62. Madison Square Garden has a fifty-two week low of $207.90 and a fifty-two week high of $438.93.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MSGS shares. Guggenheim lifted their target price on Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a report on Friday, August 14th. 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 research note on Wednesday, July 15th. JPMorgan Chase & Co. raised their price objective on Madison Square Garden from $450.00 to $485.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Susquehanna increased their price objective on shares of Madison Square Garden from $430.00 to $477.00 and gave the company a “positive” rating in a research note on Friday, August 14th. Finally, Weiss Ratings raised shares of Madison Square Garden from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Madison Square Garden currently has a consensus rating of “Moderate Buy” and a consensus target price of $471.20.

About Madison Square Garden

Madison Square Garden Sports Corp. (NYSE: MSGS) is a sports and entertainment company that owns and operates professional sports franchises. Its principal assets include the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League. The company also owns the NBA G League’s Westchester Knicks and operates team-related businesses involving ticketing, sponsorships, media rights, merchandising and licensing.

Through its teams and related commercial activities, Madison Square Garden Sports serves fans primarily in the New York metropolitan area while reaching national and international audiences through league broadcasts, digital media, live events and branded merchandise.