Shares of The Madison Square Garden Company (NYSE:MSG) have earned an average rating of “Hold” from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $209.71.

Several brokerages have recently commented on MSG. Zacks Investment Research downgraded shares of The Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BTIG Research set a $260.00 price objective on shares of The Madison Square Garden and gave the company a “buy” rating in a research note on Monday, September 11th. Jefferies Group LLC upped their price objective on shares of The Madison Square Garden from $185.00 to $200.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $245.00 price objective (up from $215.00) on shares of The Madison Square Garden in a research note on Tuesday, July 25th.

Shares of The Madison Square Garden (MSG) traded down 0.65% on Friday, reaching $214.10. The company had a trading volume of 143,969 shares. The Madison Square Garden has a one year low of $160.96 and a one year high of $226.95. The company’s 50-day moving average is $216.35 and its 200-day moving average is $203.65. The company’s market capitalization is $4.07 billion.

The Madison Square Garden (NYSE:MSG) last posted its quarterly earnings results on Thursday, August 17th. The company reported ($3.58) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($2.48). The business had revenue of $305.60 million during the quarter, compared to the consensus estimate of $279.19 million. The Madison Square Garden had a negative return on equity of 2.43% and a negative net margin of 5.52%. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.39) earnings per share. Equities research analysts predict that The Madison Square Garden will post $0.76 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The Madison Square Garden by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 712 shares of the company’s stock worth $140,000 after purchasing an additional 58 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of The Madison Square Garden by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock valued at $148,000 after buying an additional 40 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of The Madison Square Garden during the second quarter valued at approximately $176,000. South State Corp purchased a new stake in shares of The Madison Square Garden during the second quarter valued at approximately $203,000. Finally, Wittenberg Investment Management Inc. purchased a new stake in shares of The Madison Square Garden during the second quarter valued at approximately $207,000. Institutional investors and hedge funds own 70.83% of the company’s stock.

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The Madison Square Garden Company Profile

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

Analyst Recommendations for The Madison Square Garden (NYSE:MSG)

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