Share on StockTwits

The Madison Square Garden (NYSE:MSG) was downgraded by analysts at ISI Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. They currently have a $66.00 price target on the stock. ISI Group’s price objective would suggest a potential upside of 3.72% from the stock’s previous close. The analysts noted that the move was a valuation call.

MSG has been the subject of a number of other recent research reports. Analysts at Macquarie reiterated a “neutral” rating on shares of The Madison Square Garden in a research note on Thursday. They now have a $64.00 price target on the stock, up previously from $61.00. Separately, 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. Finally, 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. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $66.98.

Shares of The Madison Square Garden (NYSE:MSG) traded up 1.48% during mid-day trading on Friday, hitting $64.57. 217,697 shares of the company’s stock traded hands. 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 $60.97 and a 200-day moving average of $57.48. The company has a market cap of $4.964 billion and a price-to-earnings ratio of 43.29.

The Madison Square Garden (NYSE:MSG) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts predict that The Madison Square Garden will post $2.05 earnings per share for the current fiscal year.

The Madison Square Garden Company, is a holding company conducting its operations through direct and indirect subsidiaries.

The Fly On The Wall

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.