The Madison Square Garden Company (NYSE:MSGS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of The Madison Square Garden Company (NYSE:MSGS) have earned an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $252.60.

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

Madison Square Garden Stock Down 1.9%

Shares of NYSE MSGS opened at $204.25 on Wednesday. The business has a fifty day simple moving average of $196.80 and a two-hundred day simple moving average of $200.36. The firm has a market cap of $4.90 billion, a PE ratio of 972.67 and a beta of 0.79. Madison Square Garden has a twelve month low of $173.26 and a twelve month high of $237.99.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in Madison Square Garden by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 115,530 shares of the company’s stock valued at $26,073,000 after purchasing an additional 3,675 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Madison Square Garden during the 4th quarter valued at about $3,413,000. Raymond James Financial Inc. purchased a new stake in Madison Square Garden during the 4th quarter valued at about $4,425,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Madison Square Garden by 28.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,983 shares of the company’s stock valued at $899,000 after purchasing an additional 892 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in Madison Square Garden by 0.8% during the 4th quarter. HighTower Advisors LLC now owns 19,705 shares of the company’s stock valued at $4,447,000 after purchasing an additional 156 shares during the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

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.