$518.29 Million in Sales Expected for The Madison Square Garden Company (MSG) This Quarter

Wall Street analysts expect The Madison Square Garden Company (NYSE:MSG) to post sales of $518.29 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for The Madison Square Garden’s earnings, with estimates ranging from $511.90 million to $524.68 million. The Madison Square Garden reported sales of $445.15 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.4%. The business is scheduled to issue its next earnings results on Friday, February 2nd.

According to Zacks, analysts expect that The Madison Square Garden will report full year sales of $518.29 million for the current financial year, with estimates ranging from $1.50 billion to $1.53 billion. For the next fiscal year, analysts expect that the business will post sales of $1.58 billion per share, with estimates ranging from $1.56 billion to $1.60 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for The Madison Square Garden.

The Madison Square Garden (NYSE:MSG) last released its quarterly earnings results on Friday, November 3rd. The company reported ($0.47) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.18. The Madison Square Garden had a negative return on equity of 1.75% and a negative net margin of 4.00%. The business had revenue of $245.04 million for the quarter, compared to analysts’ expectations of $237.06 million. During the same quarter in the previous year, the firm posted ($1.19) earnings per share. The company’s revenue was up 34.9% compared to the same quarter last year.

Several brokerages recently weighed in on MSG. Zacks Investment Research raised The Madison Square Garden from a “hold” rating to a “buy” rating and set a $235.00 price objective for the company in a report on Thursday, January 4th. Jefferies Group reissued a “hold” rating and issued a $200.00 price objective on shares of The Madison Square Garden in a report on Tuesday, October 24th. Loop Capital boosted their price objective on The Madison Square Garden from $266.00 to $268.00 and gave the company a “buy” rating in a report on Monday, November 6th. ValuEngine lowered The Madison Square Garden from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, Morgan Stanley lowered The Madison Square Garden from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $218.50 to $245.00 in a report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $219.00.

Shares of The Madison Square Garden (MSG) opened at $212.00 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $4,957.76, a PE ratio of -88.33 and a beta of 1.09. The Madison Square Garden has a fifty-two week low of $166.86 and a fifty-two week high of $231.44.

A number of institutional investors have recently made changes to their positions in the stock. Gruss Capital Management LP grew its holdings in shares of The Madison Square Garden by 51.8% during the third quarter. Gruss Capital Management LP now owns 349,172 shares of the company’s stock valued at $74,758,000 after purchasing an additional 119,172 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of The Madison Square Garden by 1,192.1% during the third quarter. Canada Pension Plan Investment Board now owns 15,066 shares of the company’s stock valued at $3,226,000 after purchasing an additional 13,900 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of The Madison Square Garden by 23.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 79,659 shares of the company’s stock valued at $17,055,000 after purchasing an additional 14,877 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of The Madison Square Garden during the third quarter valued at approximately $1,250,000. Finally, Principal Financial Group Inc. grew its holdings in shares of The Madison Square Garden by 16.6% during the second quarter. Principal Financial Group Inc. now owns 3,366 shares of the company’s stock valued at $663,000 after purchasing an additional 480 shares during the last quarter. 71.26% of the stock is owned by hedge funds and other institutional investors.

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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.

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

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