Madison Square Garden Co (MSG) Receives Consensus Recommendation of “Buy” from Brokerages

Madison Square Garden Co (NYSE:MSG) has been given an average rating of “Buy” by the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $344.00.

A number of research analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Madison Square Garden from $315.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 31st. Macquarie reissued a “buy” rating and set a $356.00 price objective on shares of Madison Square Garden in a research note on Tuesday, October 30th. Zacks Investment Research raised shares of Madison Square Garden from a “hold” rating to a “buy” rating and set a $316.00 price objective for the company in a research note on Wednesday, October 24th. Guggenheim raised their price objective on shares of Madison Square Garden to $350.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Finally, Imperial Capital assumed coverage on shares of Madison Square Garden in a research note on Tuesday, August 21st. They set an “outperform” rating and a $372.00 price objective for the company.

Shares of MSG stock traded down $1.46 during midday trading on Monday, reaching $271.04. 255,978 shares of the company traded hands, compared to its average volume of 346,197. Madison Square Garden has a 1-year low of $205.22 and a 1-year high of $330.00. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 45.63, a PEG ratio of 14.64 and a beta of 0.70.

Madison Square Garden (NYSE:MSG) last posted its quarterly earnings results on Thursday, November 1st. The company reported ($1.36) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.13) by $0.77. Madison Square Garden had a net margin of 7.86% and a return on equity of 0.27%. The company had revenue of $218.14 million during the quarter, compared to the consensus estimate of $211.48 million. During the same period last year, the firm earned ($0.47) EPS. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. Sell-side analysts forecast that Madison Square Garden will post 0.74 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Madison Square Garden during the 2nd quarter worth approximately $118,000. Sageworth Trust Co increased its stake in shares of Madison Square Garden by 1,257.5% during the 3rd quarter. Sageworth Trust Co now owns 543 shares of the company’s stock worth $171,000 after purchasing an additional 503 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in Madison Square Garden in the 2nd quarter worth approximately $206,000. Investment House LLC purchased a new stake in Madison Square Garden in the 2nd quarter worth approximately $225,000. Finally, Comerica Bank purchased a new stake in Madison Square Garden in the 2nd quarter worth approximately $237,000. 70.40% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Company Profile

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

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Analyst Recommendations for Madison Square Garden (NYSE:MSG)

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