The Madison Square Garden Company (NYSE:MSGS) Given Average Rating of “Moderate Buy” by Brokerages

The Madison Square Garden Company (NYSE:MSGS) has received an average rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $252.60.

A number of equities analysts have recently issued reports on MSGS shares. Susquehanna started coverage on shares of Madison Square Garden in a research note on Monday, April 28th. They set a “positive” rating and a $254.00 price objective on the stock. Guggenheim restated a “buy” rating and issued a $314.00 target price on shares of Madison Square Garden in a research note on Tuesday, May 6th. Morgan Stanley lowered their target price on shares of Madison Square Garden from $235.00 to $215.00 and set an “equal weight” rating for the company in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Madison Square Garden from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Monday, May 5th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MSGS. Allworth Financial LP raised its holdings in shares of Madison Square Garden by 81.4% in the fourth quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after buying an additional 57 shares during the last quarter. Putney Financial Group LLC purchased a new position in shares of Madison Square Garden during the fourth quarter worth $28,000. Heck Capital Advisors LLC purchased a new position in shares of Madison Square Garden during the fourth quarter worth $43,000. Headlands Technologies LLC raised its holdings in shares of Madison Square Garden by 1,016.7% during the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company’s stock worth $60,000 after purchasing an additional 244 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Madison Square Garden by 423.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 272 shares of the company’s stock worth $62,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

NYSE MSGS opened at $205.84 on Friday. The firm’s 50 day moving average price is $192.54 and its 200-day moving average price is $202.58. Madison Square Garden has a 52-week low of $173.26 and a 52-week high of $237.99. The company has a market cap of $4.94 billion, a PE ratio of 980.24 and a beta of 0.77.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($2.07). Madison Square Garden had a net margin of 0.45% and a negative return on equity of 1.76%. The business had revenue of $424.20 million for the quarter, compared to the consensus estimate of $436.84 million. During the same quarter in the prior year, the business posted $1.57 earnings per share. Madison Square Garden’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts forecast that Madison Square Garden will post 0.73 earnings per share for the current fiscal year.

About Madison Square Garden

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.