The Madison Square Garden Company (NYSE:MSGS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of The Madison Square Garden Company (NYSE:MSGS) have been given a consensus recommendation of “Hold” by the ten analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $261.3333.

Several brokerages have issued reports on MSGS. Citigroup upped their price target on shares of Madison Square Garden from $285.00 to $290.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. BTIG Research assumed coverage on Madison Square Garden in a research report on Tuesday, October 7th. They set a “neutral” rating for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday, December 29th. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. upped their price objective on Madison Square Garden from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd.

Madison Square Garden Stock Performance

Madison Square Garden stock opened at $253.80 on Wednesday. Madison Square Garden has a fifty-two week low of $173.26 and a fifty-two week high of $262.77. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of -258.98 and a beta of 0.63. The stock’s fifty day moving average is $232.12 and its two-hundred day moving average is $217.38.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings results on Friday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.67. The firm had revenue of $39.45 million for the quarter, compared to analyst estimates of $41.41 million. The company’s quarterly revenue was down 26.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.31) EPS. As a group, sell-side analysts forecast that Madison Square Garden will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Madison Square Garden

Several hedge funds have recently modified their holdings of the company. Independent Advisor Alliance raised its position in shares of Madison Square Garden by 2.7% in the third quarter. Independent Advisor Alliance now owns 1,765 shares of the company’s stock valued at $401,000 after buying an additional 46 shares during the last quarter. Two Sigma Investments LP raised its holdings in Madison Square Garden by 0.4% in the 3rd quarter. Two Sigma Investments LP now owns 11,898 shares of the company’s stock valued at $2,701,000 after acquiring an additional 48 shares during the last quarter. Cibc World Market Inc. lifted its stake in shares of Madison Square Garden by 2.8% during the 3rd quarter. Cibc World Market Inc. now owns 1,881 shares of the company’s stock worth $427,000 after purchasing an additional 51 shares during the period. Sei Investments Co. lifted its stake in shares of Madison Square Garden by 1.2% during the 3rd quarter. Sei Investments Co. now owns 4,289 shares of the company’s stock worth $974,000 after purchasing an additional 52 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Madison Square Garden by 1.7% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,663 shares of the company’s stock worth $765,000 after purchasing an additional 60 shares during the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Company Profile

Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA’s New York Knicks, the NHL’s New York Rangers and the WNBA’s New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.