Brokerages Set The Madison Square Garden Company (NYSE:MSGS) Target Price at $471.20

Shares of The Madison Square Garden Company (NYSE:MSGS) have been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $471.20.

MSGS has been the topic of a number of analyst reports. Susquehanna increased their price target on Madison Square Garden from $430.00 to $477.00 and gave the stock a “positive” rating in a research report on Friday, August 14th. Seaport Research Partners lifted their price objective on Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Zacks Research upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. increased their target price on Madison Square Garden from $450.00 to $485.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Finally, Wall Street Zen upgraded Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Sunday.

Madison Square Garden Stock Down 2.2%

Shares of Madison Square Garden stock opened at $398.12 on Thursday. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 1,327.11 and a beta of 0.62. Madison Square Garden has a twelve month low of $193.87 and a twelve month high of $438.93. The company has a 50-day simple moving average of $393.45 and a two-hundred day simple moving average of $354.74.

Madison Square Garden (NYSE:MSGS) last announced its earnings results on Wednesday, August 12th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.64 by $0.52. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The company had revenue of $278.75 million for the quarter, compared to analysts’ expectations of $227.67 million. During the same period last year, the firm earned ($0.07) earnings per share. The business’s revenue for the quarter was up 36.6% on a year-over-year basis. On average, sell-side analysts anticipate that Madison Square Garden will post -0.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Madison Square Garden

Several hedge funds have recently bought and sold shares of MSGS. Versant Capital Management Inc increased its holdings in Madison Square Garden by 2.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,214 shares of the company’s stock worth $488,000 after purchasing an additional 31 shares in the last quarter. DGS Capital Management LLC lifted its holdings in shares of Madison Square Garden by 4.8% in the first quarter. DGS Capital Management LLC now owns 832 shares of the company’s stock valued at $267,000 after purchasing an additional 38 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Madison Square Garden by 33.1% in the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after purchasing an additional 39 shares in the last quarter. Allworth Financial LP boosted its position in shares of Madison Square Garden by 26.5% during the fourth quarter. Allworth Financial LP now owns 196 shares of the company’s stock valued at $51,000 after buying an additional 41 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Madison Square Garden by 35.0% during the first quarter. EverSource Wealth Advisors LLC now owns 162 shares of the company’s stock valued at $52,000 after buying an additional 42 shares during the last quarter. 68.94% of the stock is owned by institutional investors.

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.