Brokerages Set Madison Square Garden Co (NYSE:MSG) PT at $342.67

Shares of Madison Square Garden Co (NYSE:MSG) have earned an average rating of “Buy” from the six research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $342.33.

Several research analysts have recently commented on MSG shares. ValuEngine upgraded Madison Square Garden from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Imperial Capital decreased their target price on Madison Square Garden from $358.00 to $357.00 and set an “outperform” rating on the stock in a report on Monday. Morgan Stanley dropped their price target on Madison Square Garden from $340.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Finally, Guggenheim set a $350.00 price target on Madison Square Garden and gave the company a “buy” rating in a report on Wednesday, August 21st.

NYSE:MSG traded down $1.71 during mid-day trading on Friday, hitting $274.97. The stock had a trading volume of 132,792 shares, compared to its average volume of 186,122. Madison Square Garden has a twelve month low of $240.33 and a twelve month high of $315.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 572.85 and a beta of 0.55. The company’s 50 day simple moving average is $268.95 and its 200 day simple moving average is $279.50.

Madison Square Garden (NYSE:MSG) last announced its quarterly earnings results on Friday, November 8th. The company reported ($3.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.29) by ($1.07). The business had revenue of $214.78 million for the quarter, compared to analyst estimates of $227.52 million. Madison Square Garden had a negative return on equity of 1.38% and a negative net margin of 2.23%. Madison Square Garden’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.36) EPS. As a group, equities analysts forecast that Madison Square Garden will post -0.85 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the stock. FMR LLC raised its holdings in Madison Square Garden by 8.1% in the 1st 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. Norman Fields Gottscho Capital Management LLC grew its position in shares of Madison Square Garden by 0.6% in the second quarter. Norman Fields Gottscho Capital Management LLC now owns 19,477 shares of the company’s stock valued at $5,452,000 after purchasing an additional 120 shares during the last quarter. AdvisorNet Financial Inc acquired a new position in shares of Madison Square Garden in the second quarter valued at approximately $30,000. Menlo Advisors LLC increased its stake in shares of Madison Square Garden by 12.1% during the second quarter. Menlo Advisors LLC now owns 18,494 shares of the company’s stock worth $5,177,000 after purchasing an additional 1,995 shares during the period. Finally, Oakbrook Investments LLC bought a new position in shares of Madison Square Garden during the second quarter worth approximately $203,000. 70.52% of the stock is owned by institutional investors and hedge funds.

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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