Madison Square Garden (MSG) Releases Earnings Results, Beats Estimates By $0.06 EPS
Madison Square Garden (NYSE:MSG) released its quarterly earnings data on Thursday. The company reported ($1.94) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.00) by $0.06, MarketWatch Earnings reports. Madison Square Garden had a net margin of 6.68% and a return on equity of 0.07%. The firm had revenue of $318.00 million for the quarter, compared to the consensus estimate of $293.32 million. During the same period last year, the firm earned ($3.58) earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis.
NYSE:MSG opened at $298.17 on Friday. Madison Square Garden has a 52 week low of $205.22 and a 52 week high of $330.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market cap of $7.56 billion, a P/E ratio of -268.62, a PEG ratio of 14.62 and a beta of 0.44.
A number of equities analysts have recently issued reports on MSG shares. Morgan Stanley increased their price objective on shares of Madison Square Garden from $245.00 to $260.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 2nd. TheStreet downgraded shares of Madison Square Garden from a “b-” rating to a “c-” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Madison Square Garden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 8th. Jefferies Financial Group upgraded shares of Madison Square Garden from a “hold” rating to a “buy” rating and increased their price objective for the company from $233.00 to $350.00 in a research note on Thursday, June 28th. Finally, ValuEngine upgraded shares of Madison Square Garden from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 28th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $294.20.
The Madison Square Garden Company, through its subsidiaries, engages in sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises, as well as promotes, produces, and/or presents a range of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.
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