Brokerages Set Madison Square Garden Co (NYSE:MSG) PT at $354.40

Shares of Madison Square Garden Co (NYSE:MSG) have been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $354.40.

A number of brokerages recently weighed in on MSG. ValuEngine cut shares of Madison Square Garden from a “strong-buy” rating to a “buy” rating in a research report on Friday. Zacks Investment Research cut shares of Madison Square Garden from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Imperial Capital decreased their price target on shares of Madison Square Garden from $383.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Finally, Morgan Stanley upped their price target on shares of Madison Square Garden from $310.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th.

Shares of Madison Square Garden stock opened at $287.70 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.07 and a quick ratio of 2.07. Madison Square Garden has a twelve month low of $240.33 and a twelve month high of $330.00. The firm has a market cap of $6.84 billion, a P/E ratio of 179.93 and a beta of 0.60.

Madison Square Garden (NYSE:MSG) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.10. Madison Square Garden had a net margin of 2.29% and a return on equity of 1.48%. The firm had revenue of $517.19 million during the quarter, compared to analysts’ expectations of $525.06 million. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts expect that Madison Square Garden will post 1.25 earnings per share for the current year.

A number of large investors have recently bought and sold shares of MSG. Samlyn Capital LLC purchased a new position in Madison Square Garden in the 4th quarter valued at about $73,639,000. Norges Bank purchased a new position in Madison Square Garden in the 4th quarter valued at about $60,308,000. Gluskin Sheff & Assoc Inc. boosted its position in Madison Square Garden by 84.4% in the 4th quarter. Gluskin Sheff & Assoc Inc. now owns 225,531 shares of the company’s stock valued at $60,375,000 after buying an additional 103,244 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Madison Square Garden by 36.0% in the 4th quarter. Westfield Capital Management Co. LP now owns 327,899 shares of the company’s stock valued at $87,779,000 after buying an additional 86,764 shares during the last quarter. Finally, Vanguard Group Inc boosted its position in Madison Square Garden by 5.2% in the 3rd quarter. Vanguard Group Inc now owns 1,637,350 shares of the company’s stock valued at $516,290,000 after buying an additional 81,581 shares during the last quarter. 72.84% of the stock is owned by institutional investors.

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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