Zacks: Brokerages Expect The Madison Square Garden Company (MSG) Will Post Quarterly Sales of $518.29 Million

Brokerages expect The Madison Square Garden Company (NYSE:MSG) to announce sales of $518.29 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for The Madison Square Garden’s earnings. The highest sales estimate is $524.68 million and the lowest is $511.90 million. The Madison Square Garden reported sales of $445.15 million in the same quarter last year, which indicates a positive year over year growth rate of 16.4%. The firm is expected to issue its next earnings report on Friday, February 2nd.

On average, 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 year, analysts forecast that the company will report sales of $1.58 billion per share, with estimates ranging from $1.56 billion to $1.60 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow The Madison Square Garden.

The Madison Square Garden (NYSE:MSG) last issued its quarterly 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 company had revenue of $245.04 million during the quarter, compared to the consensus estimate of $237.06 million. The Madison Square Garden had a negative return on equity of 1.75% and a negative net margin of 4.00%. The Madison Square Garden’s revenue was up 34.9% on a year-over-year basis. During the same period last year, the company earned ($1.19) earnings per share.

MSG has been the subject of a number of analyst reports. Loop Capital raised their price target on The Madison Square Garden from $266.00 to $268.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Zacks Investment Research upgraded The Madison Square Garden from a “hold” rating to a “buy” rating and set a $235.00 price target for the company in a research report on Thursday, January 4th. Morgan Stanley downgraded The Madison Square Garden from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $218.50 to $245.00 in a research report on Tuesday, December 5th. Jefferies Group restated a “hold” rating and issued a $200.00 price target on shares of The Madison Square Garden in a research report on Tuesday, October 24th. Finally, ValuEngine downgraded The Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $219.00.

Hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. increased its stake in The Madison Square Garden by 78.9% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 592 shares of the company’s stock worth $127,000 after purchasing an additional 261 shares during the period. The Manufacturers Life Insurance Company increased its stake in The Madison Square Garden by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock worth $148,000 after purchasing an additional 40 shares during the period. Maverick Capital Ltd. purchased a new stake in The Madison Square Garden in the second quarter worth $176,000. Investment House LLC purchased a new stake in The Madison Square Garden in the third quarter worth $203,000. Finally, Bluestein R H & Co. purchased a new stake in The Madison Square Garden in the third quarter worth $214,000. Institutional investors and hedge funds own 71.26% of the company’s stock.

Shares of The Madison Square Garden (NYSE MSG) opened at $212.00 on Friday. The stock has a market capitalization of $4,957.76, a price-to-earnings ratio of -88.33 and a beta of 1.09. The Madison Square Garden has a 52-week low of $166.86 and a 52-week 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 1.92.

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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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