Madison Square Garden (NYSE:MSG) PT Lowered to $362.00 at Imperial Capital

Madison Square Garden (NYSE:MSG) had its price objective reduced by Imperial Capital from $377.00 to $362.00 in a research report sent to investors on Wednesday, AnalystRatings.com reports. Imperial Capital currently has an outperform rating on the stock. Imperial Capital also issued estimates for Madison Square Garden’s Q1 2020 earnings at ($2.24) EPS, Q4 2020 earnings at ($2.14) EPS, Q4 2020 earnings at ($2.09) EPS, FY2020 earnings at $0.82 EPS and Q4 2021 earnings at ($2.25) EPS.

MSG has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Madison Square Garden from a buy rating to a hold rating in a research note on Tuesday, May 14th. Morgan Stanley lifted their price target on shares of Madison Square Garden from $310.00 to $340.00 and gave the company an equal weight rating in a research note on Thursday, April 25th. Finally, ValuEngine raised shares of Madison Square Garden from a buy rating to a strong-buy rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $346.60.

Shares of NYSE MSG opened at $254.45 on Wednesday. Madison Square Garden has a twelve month low of $240.33 and a twelve month high of $317.70. The firm has a fifty day simple moving average of $285.91 and a 200 day simple moving average of $293.20. The company has a market capitalization of $6.21 billion, a PE ratio of 568.35 and a beta of 0.48. The company has a quick ratio of 2.07, a current ratio of 1.86 and a debt-to-equity ratio of 0.02.

Madison Square Garden (NYSE:MSG) last announced its earnings results on Tuesday, August 20th. The company reported ($3.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.74). Madison Square Garden had a return on equity of 0.43% and a net margin of 0.70%. The firm had revenue of $263.56 million for the quarter, compared to the consensus estimate of $270.09 million. During the same period in the prior year, the business earned ($1.94) EPS. Madison Square Garden’s quarterly revenue was down 17.1% on a year-over-year basis. As a group, equities analysts expect that Madison Square Garden will post 0.69 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of MSG. Citizens Financial Group Inc RI bought a new stake in Madison Square Garden in the first quarter valued at $29,000. AdvisorNet Financial Inc bought a new stake in Madison Square Garden in the second quarter valued at $30,000. Advisory Services Network LLC increased its stake in Madison Square Garden by 850.0% in the second quarter. Advisory Services Network LLC now owns 171 shares of the company’s stock valued at $48,000 after purchasing an additional 153 shares in the last quarter. Trust Co. of Vermont bought a new stake in Madison Square Garden in the second quarter valued at $49,000. Finally, Quadrant Capital Group LLC increased its stake in Madison Square Garden by 1,226.7% in the first quarter. Quadrant Capital Group LLC now owns 199 shares of the company’s stock valued at $57,000 after purchasing an additional 184 shares in the last quarter. 72.56% of the stock is owned by hedge funds and other 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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