Analysts Anticipate Madison Square Garden Co (NYSE:MSG) Will Announce Earnings of $0.91 Per Share

Wall Street analysts expect Madison Square Garden Co (NYSE:MSG) to report earnings per share of $0.91 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Madison Square Garden’s earnings. The lowest EPS estimate is $0.67 and the highest is $1.10. Madison Square Garden reported earnings per share of $1.48 in the same quarter last year, which would suggest a negative year over year growth rate of 38.5%. The firm is expected to report its next earnings report on Wednesday, May 13th.

According to Zacks, analysts expect that Madison Square Garden will report full year earnings of ($1.19) per share for the current financial year, with EPS estimates ranging from ($2.23) to ($0.49). For the next financial year, analysts anticipate that the company will report earnings of ($0.61) per share, with EPS estimates ranging from ($1.59) to $0.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Madison Square Garden.

Madison Square Garden (NYSE:MSG) last released its quarterly earnings data on Friday, February 7th. The company reported $3.93 earnings per share for the quarter, beating the consensus estimate of $2.41 by $1.52. Madison Square Garden had a negative return on equity of 0.90% and a negative net margin of 1.47%. The firm had revenue of $628.80 million during the quarter, compared to the consensus estimate of $635.93 million. During the same period last year, the business posted $3.42 EPS. Madison Square Garden’s quarterly revenue was down .5% on a year-over-year basis.

Several equities analysts recently weighed in on the company. Oppenheimer assumed coverage on Madison Square Garden in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $365.00 price objective for the company. ValuEngine downgraded Madison Square Garden from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 21st. Jefferies Financial Group assumed coverage on Madison Square Garden in a research note on Tuesday, December 17th. They issued a “buy” rating and a $370.00 price objective for the company. Finally, Imperial Capital raised their price objective on Madison Square Garden from $357.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $351.67.

NYSE MSG traded down $2.74 during mid-day trading on Friday, hitting $310.50. The stock had a trading volume of 99,418 shares, compared to its average volume of 165,735. Madison Square Garden has a 52-week low of $247.57 and a 52-week high of $316.39. The company has a market cap of $7.45 billion, a price-to-earnings ratio of -301.46 and a beta of 0.57. The company has a 50 day simple moving average of $300.72 and a 200 day simple moving average of $280.10. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.08.

In other Madison Square Garden news, SVP Philip Gerard D’ambrosio sold 100 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $314.43, for a total transaction of $31,443.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard D. Parsons sold 816 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $307.56, for a total value of $250,968.96. Following the transaction, the director now directly owns 3,663 shares of the company’s stock, valued at approximately $1,126,592.28. The disclosure for this sale can be found here. Insiders have sold 12,804 shares of company stock valued at $3,892,745 in the last three months. 20.70% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of 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 last quarter. BlackRock Inc. increased its holdings in shares of Madison Square Garden by 8.4% in the 2nd quarter. BlackRock Inc. now owns 1,044,764 shares of the company’s stock valued at $292,473,000 after acquiring an additional 80,714 shares during the last quarter. First Bank & Trust increased its holdings in shares of Madison Square Garden by 18.3% in the 3rd quarter. First Bank & Trust now owns 433 shares of the company’s stock valued at $114,000 after acquiring an additional 67 shares during the last quarter. Coastal Investment Advisors Inc. increased its holdings in shares of Madison Square Garden by 70.4% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 1,210 shares of the company’s stock valued at $318,000 after acquiring an additional 500 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Madison Square Garden by 60.2% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 266 shares of the company’s stock valued at $70,000 after acquiring an additional 100 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

About Madison Square Garden

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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