Q4 2020 Earnings Estimate for Madison Square Garden Co Issued By Imperial Capital (NYSE:MSG)

Madison Square Garden Co (NYSE:MSG) – Research analysts at Imperial Capital lowered their Q4 2020 EPS estimates for shares of Madison Square Garden in a report released on Wednesday, August 14th. Imperial Capital analyst D. Miller now anticipates that the company will post earnings of ($2.09) per share for the quarter, down from their previous forecast of ($2.03). Imperial Capital currently has a “Outperform” rating and a $376.00 target price on the stock. Imperial Capital also issued estimates for Madison Square Garden’s Q4 2021 earnings at ($2.25) EPS.

Madison Square Garden (NYSE:MSG) last issued its earnings results on Tuesday, August 20th. The company reported ($3.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.34) by ($0.74). The business had revenue of $263.56 million during the quarter, compared to the consensus estimate of $270.09 million. Madison Square Garden had a return on equity of 1.48% and a net margin of 2.29%. The company’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.94) earnings per share.

Other equities research analysts also recently issued reports about the company. ValuEngine upgraded Madison Square Garden from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price objective on Madison Square Garden from $310.00 to $340.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Finally, Zacks Investment Research downgraded Madison Square Garden from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $353.40.

Shares of MSG stock opened at $267.33 on Monday. The company has a market cap of $6.93 billion, a P/E ratio of 45.01 and a beta of 0.48. The stock has a 50 day simple moving average of $287.34 and a two-hundred day simple moving average of $293.48. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.07 and a current ratio of 2.07. Madison Square Garden has a fifty-two week low of $240.33 and a fifty-two week high of $317.70.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its holdings in shares of Madison Square Garden by 4.1% during the first quarter. Oppenheimer & Co. Inc. now owns 879 shares of the company’s stock valued at $258,000 after acquiring an additional 35 shares in the last quarter. Gamble Jones Investment Counsel boosted its position in shares of Madison Square Garden by 0.3% during the first quarter. Gamble Jones Investment Counsel now owns 12,832 shares of the company’s stock valued at $3,761,000 after buying an additional 37 shares during the last quarter. Griffin Asset Management Inc. boosted its position in shares of Madison Square Garden by 0.9% during the second quarter. Griffin Asset Management Inc. now owns 5,900 shares of the company’s stock valued at $1,652,000 after buying an additional 50 shares during the last quarter. Institute for Wealth Management LLC. boosted its position in shares of Madison Square Garden by 1.4% during the second quarter. Institute for Wealth Management LLC. now owns 3,834 shares of the company’s stock valued at $1,073,000 after buying an additional 54 shares during the last quarter. Finally, Private Advisors LLC boosted its position in shares of Madison Square Garden by 1.1% during the first quarter. Private Advisors LLC now owns 5,616 shares of the company’s stock valued at $1,646,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 72.56% of the company’s stock.

About Madison Square Garden

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.

Further Reading: Oversold

Earnings History and Estimates for Madison Square Garden (NYSE:MSG)

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