Madison Square Garden Given New $77.00 Price Target at Albert Fried & Company (MSG)
Albert Fried & Company lowered their price objective on shares of Madison Square Garden (NYSE:MSG) from $80.00 to $77.00 in a research note issued on Thursday, Stock Ratings Network.com reports. The firm currently has an “overweight” rating on the stock. Albert Fried & Company’s price objective suggests a potential upside of 37.52% from the company’s current price.
A number of other analysts have also recently weighed in on MSG. Analysts at ISI Group initiated coverage on shares of Madison Square Garden (NYSE:MSG) in a research note to investors on Tuesday. They set a “buy” rating on the stock. Separately, analysts at Zacks downgraded shares of Madison Square Garden (NYSE:MSG) from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, July 3rd. They now have a $65.00 price target on the stock. Finally, analysts at Needham & Company raised their price target on shares of Madison Square Garden (NYSE:MSG) from $66.00 to $70.00 in a research note to investors on Wednesday, June 19th. They now have a “buy” rating on the stock.
Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $69.25.
Madison Square Garden (NYSE:MSG) traded up 1.63% during mid-day trading on Thursday, hitting $55.99. 543,425 shares of the company’s stock traded hands. Madison Square Garden has a one year low of $39.00 and a one year high of $63.44. The stock’s 50-day moving average is $58.5 and its 200-day moving average is $58.50. The company has a market cap of $4.303 billion and a P/E ratio of 30.10.
Madison Square Garden (NYSE:MSG) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.18. The company had revenue of $36.40 million for the quarter, compared to the consensus estimate of $320.07 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that Madison Square Garden will post $1.78 earnings per share for the current fiscal year.
The Madison Square Garden Company (NYSE:MSG), formerly Madison Square Garden, Inc, is a fully-integrated sports, entertainment and media business.
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