The Madison Square Garden Company (MSG) Price Target Increased to $268.00 by Analysts at Loop Capital

The Madison Square Garden Company (NYSE:MSG) had its price objective increased by Loop Capital from $266.00 to $268.00 in a research report sent to investors on Monday morning. Loop Capital currently has a buy rating on the stock.

A number of other analysts also recently issued reports on MSG. Jefferies Group LLC raised their price objective on The Madison Square Garden from $185.00 to $200.00 and gave the stock a hold rating in a research report on Friday, August 18th. Zacks Investment Research downgraded The Madison Square Garden from a hold rating to a sell rating in a research report on Tuesday, October 17th. Morgan Stanley reissued an overweight rating and set a $245.00 price objective (up from $215.00) on shares of The Madison Square Garden in a research report on Tuesday, July 25th. Finally, BTIG Research set a $260.00 price objective on The Madison Square Garden and gave the stock a buy rating in a research report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $217.78.

Shares of The Madison Square Garden (MSG) traded up $0.23 on Monday, hitting $229.92. The company’s stock had a trading volume of 31,935 shares, compared to its average volume of 169,818. The Madison Square Garden has a twelve month low of $166.86 and a twelve month high of $231.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.92 and a quick ratio of 1.90.

The Madison Square Garden (NYSE:MSG) last issued its earnings results on Friday, November 3rd. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $237.06 million. During the same period last year, the company earned ($1.19) EPS. The company’s revenue for the quarter was up 34.9% on a year-over-year basis. sell-side analysts forecast that The Madison Square Garden will post 0.5 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSG. Principal Financial Group Inc. acquired a new position in The Madison Square Garden in the 1st quarter valued at about $576,000. Legal & General Group Plc grew its position in The Madison Square Garden by 182.1% in the 1st quarter. Legal & General Group Plc now owns 6,581 shares of the company’s stock valued at $1,314,000 after acquiring an additional 4,248 shares in the last quarter. Geode Capital Management LLC grew its position in The Madison Square Garden by 5.5% in the 1st quarter. Geode Capital Management LLC now owns 122,415 shares of the company’s stock valued at $24,446,000 after acquiring an additional 6,395 shares in the last quarter. BlackRock Inc. grew its position in The Madison Square Garden by 13,915.4% in the 1st quarter. BlackRock Inc. now owns 767,202 shares of the company’s stock valued at $153,216,000 after acquiring an additional 761,728 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in The Madison Square Garden by 5.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 63,593 shares of the company’s stock valued at $12,701,000 after acquiring an additional 3,121 shares in the last quarter. 70.96% of the stock is owned by institutional investors.

The Madison Square Garden Company Profile

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.

Analyst Recommendations for The Madison Square Garden (NYSE:MSG)

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