ValuEngine downgraded shares of Madison Square Garden (NYSE:MSG) from a strong-buy rating to a buy rating in a report published on Friday morning, ValuEngine reports.

MSG has been the topic of a number of other research reports. Zacks Investment Research lowered Madison Square Garden from a buy rating to a hold rating in a research note on Wednesday, April 10th. TheStreet lowered Madison Square Garden from a b- rating to a c+ rating in a research report on Tuesday, March 26th. Finally, Imperial Capital cut their price objective on Madison Square Garden from $383.00 to $376.00 and set an outperform rating on the stock in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $352.83.

MSG opened at $281.44 on Friday. The company has a market capitalization of $6.69 billion, a P/E ratio of 47.38 and a beta of 0.60. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.07 and a current ratio of 2.07. Madison Square Garden has a 1-year low of $240.33 and a 1-year high of $330.00.

Madison Square Garden (NYSE:MSG) last released its quarterly earnings results on Wednesday, May 8th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.10. The business had revenue of $517.19 million for the quarter, compared to analysts’ expectations of $525.06 million. Madison Square Garden had a return on equity of 1.48% and a net margin of 2.29%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. As a group, equities research analysts forecast that Madison Square Garden will post 1.25 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. FMR LLC boosted its stake in Madison Square Garden by 8.1% in the first quarter. FMR LLC now owns 1,024 shares of the company’s stock valued at $300,000 after acquiring an additional 77 shares during the period. Cerebellum GP LLC acquired a new position in Madison Square Garden in the first quarter valued at approximately $325,000. Private Advisors LLC boosted its stake in Madison Square Garden by 1.1% in the first quarter. Private Advisors LLC now owns 5,616 shares of the company’s stock valued at $1,646,000 after acquiring an additional 59 shares during the period. Quantinno Capital Management LP acquired a new position in Madison Square Garden in the first quarter valued at approximately $698,000. Finally, Intrepid Capital Management Inc. boosted its stake in Madison Square Garden by 5.5% in the first quarter. Intrepid Capital Management Inc. now owns 25,012 shares of the company’s stock valued at $7,332,000 after acquiring an additional 1,300 shares during the period. Institutional investors own 72.84% of the company’s stock.

Madison Square Garden Company Profile

The Madison Square Garden Company, together with its subsidiaries, engages in live 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; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

See Also: Why investors pay attention to retained earnings

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Madison Square Garden (NYSE:MSG)

Receive News & Ratings for Madison Square Garden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madison Square Garden and related companies with MarketBeat.com's FREE daily email newsletter.