The Madison Square Garden Company (NYSE:MSG) announced its quarterly earnings results on Thursday. The company reported ($3.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by $2.52, Briefing.com reports. The Madison Square Garden had a negative net margin of 3.81% and a negative return on equity of 1.57%. The company had revenue of $305.60 million during the quarter, compared to the consensus estimate of $279.19 million. During the same quarter last year, the company earned ($2.39) earnings per share. The business’s revenue was up 40.3% on a year-over-year basis.

Shares of The Madison Square Garden (MSG) opened at 217.42 on Thursday. The stock’s 50 day moving average price is $207.86 and its 200 day moving average price is $197.00. The Madison Square Garden has a one year low of $160.96 and a one year high of $223.06. The company’s market cap is $5.12 billion.

A hedge fund recently raised its stake in The Madison Square Garden stock. The Manufacturers Life Insurance Company raised its stake in shares of The Madison Square Garden Company (NYSE:MSG) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 751 shares of the company’s stock after buying an additional 40 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in The Madison Square Garden were worth $148,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

A number of brokerages have weighed in on MSG. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $245.00 price target on shares of The Madison Square Garden in a research report on Thursday, April 20th. Zacks Investment Research cut The Madison Square Garden from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 18th. BTIG Research reiterated a “buy” rating and issued a $260.00 price target (up from $240.00) on shares of The Madison Square Garden in a research report on Tuesday, July 25th. Morgan Stanley reiterated an “overweight” rating and issued a $245.00 price target (up from $215.00) on shares of The Madison Square Garden in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $185.00 price target on shares of The Madison Square Garden in a research report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The Madison Square Garden presently has a consensus rating of “Hold” and an average target price of $204.91.

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About The Madison Square Garden

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

Earnings History for The Madison Square Garden (NYSE:MSG)

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