Stifel Nicolaus Lowers The Madison Square Garden to Hold (MSG)
The Madison Square Garden (NYSE:MSG) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $65.00 price objective on the stock, up from their previous price objective of $60.00. Stifel Nicolaus’ target price indicates a potential downside of 0.06% from the company’s current price.
The Madison Square Garden (NYSE:MSG) opened at 65.00 on Thursday. The Madison Square Garden has a 52 week low of $48.16 and a 52 week 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 $5.017 billion and a P/E ratio of 36.31.
The Madison Square Garden (NYSE:MSG) last issued its quarterly earnings data 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. On average, analysts predict that The Madison Square Garden will post $2.07 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at Macquarie 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 company currently has a consensus rating of “Hold” and a consensus price target of $66.69.
The Madison Square Garden Company, is a holding company conducting its operations through direct and indirect subsidiaries.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.