Madison Square Garden Co (MSG) Receives $333.14 Average PT from Brokerages

Shares of Madison Square Garden Co (NYSE:MSG) have been assigned an average recommendation of “Buy” from the eight research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $344.00.

Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Madison Square Garden from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Macquarie reaffirmed a “buy” rating and set a $356.00 price objective on shares of Madison Square Garden in a report on Tuesday, October 30th. Guggenheim lifted their price objective on Madison Square Garden to $350.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. Morgan Stanley lifted their price objective on Madison Square Garden from $260.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, August 1st. Finally, Imperial Capital began coverage on Madison Square Garden in a report on Tuesday, August 21st. They set an “outperform” rating and a $372.00 price objective on the stock.

MSG traded up $0.52 on Monday, hitting $277.95. 1,575 shares of the stock traded hands, compared to its average volume of 349,516. Madison Square Garden has a 52 week low of $205.22 and a 52 week high of $330.00. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 46.79, a P/E/G ratio of 14.49 and a beta of 0.70.

Madison Square Garden (NYSE:MSG) last issued its quarterly earnings results on Thursday, November 1st. The company reported ($1.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.13) by $0.77. Madison Square Garden had a return on equity of 0.27% and a net margin of 7.86%. The firm had revenue of $218.14 million for the quarter, compared to analyst estimates of $211.48 million. During the same period in the previous year, the company posted ($0.47) earnings per share. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. Equities research analysts expect that Madison Square Garden will post 0.74 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Madison Square Garden during the second quarter valued at approximately $118,000. Sageworth Trust Co boosted its holdings in Madison Square Garden by 1,257.5% during the third quarter. Sageworth Trust Co now owns 543 shares of the company’s stock valued at $171,000 after purchasing an additional 503 shares in the last quarter. Massey Quick Simon & CO. LLC acquired a new stake in Madison Square Garden during the second quarter valued at approximately $206,000. Investment House LLC acquired a new stake in Madison Square Garden during the second quarter valued at approximately $225,000. Finally, Comerica Bank acquired a new stake in Madison Square Garden during the second quarter valued at approximately $237,000. 70.40% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Madison Square Garden (NYSE:MSG)

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