Macquarie Reaffirms “Neutral” Rating for The Madison Square Garden (MSG)
The Madison Square Garden (NYSE:MSG)‘s stock had its “neutral” rating restated by stock analysts at Macquarie in a report issued on Thursday. They currently have a $64.00 price objective on the stock, up from their previous price objective of $61.00. Macquarie’s price target points to a potential downside of 1.60% from the company’s current price.
Shares of The Madison Square Garden (NYSE:MSG) traded down 1.94% on Thursday, hitting $63.74. The stock had a trading volume of 288,199 shares. The Madison Square Garden has a one year low of $48.16 and a one year high of $65.30. The stock has a 50-day moving average of $60.92 and a 200-day moving average of $57.44. The company has a market cap of $4.919 billion and a P/E ratio of 36.31.
The Madison Square Garden (NYSE:MSG) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.07. The company had revenue of $371.70 million for the quarter, compared to the consensus estimate of $348.78 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts expect that The Madison Square Garden will post $2.07 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MSG. Analysts at Stifel Nicolaus downgraded shares of The Madison Square Garden from a “buy” rating to a “hold” rating in a research note on Thursday. They now have a $65.00 price target on the stock, up previously from $60.00. Separately, analysts at Topeka Capital Markets downgraded shares of The Madison Square Garden from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. They now have a $63.00 price target on the stock, down previously from $67.00. Finally, analysts at Morgan Stanley downgraded shares of The Madison Square Garden from an “outperform” rating to a “neutral” rating in a research note on Monday, July 21st. They now have a $61.00 price target on the stock. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The Madison Square Garden presently has an average rating of “Hold” and a consensus target price of $67.11.
The Madison Square Garden Company, is a holding company conducting its operations through direct and indirect subsidiaries.
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