Madison Square Garden Co (NYSE:MSG) – Research analysts at Imperial Capital lowered their FY2019 earnings per share estimates for Madison Square Garden in a research note issued to investors on Wednesday, May 29th, Zacks Investment Research reports. Imperial Capital analyst D. Miller now expects that the company will post earnings per share of $1.12 for the year, down from their previous estimate of $1.40. Imperial Capital has a “Outperform” rating and a $376.00 price objective on the stock. Imperial Capital also issued estimates for Madison Square Garden’s Q4 2019 earnings at ($2.42) EPS, Q1 2020 earnings at ($1.57) EPS, Q3 2020 earnings at $2.15 EPS, FY2020 earnings at $2.03 EPS and FY2021 earnings at $3.08 EPS.
Madison Square Garden (NYSE:MSG) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.38 by $0.10. The business had revenue of $517.19 million for the quarter, compared to analyst estimates of $525.06 million. Madison Square Garden had a net margin of 2.29% and a return on equity of 1.48%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share.
Other analysts have also issued research reports about the stock. Morgan Stanley lifted their price objective 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. Zacks Investment Researchdowngraded shares of Madison Square Garden from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, TheStreet downgraded shares of Madison Square Garden from a “b-” rating to a “c+” rating in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $352.83.
MSG stock traded up $0.08 during mid-day trading on Friday, hitting $292.50. The company had a trading volume of 180,262 shares, compared to its average volume of 117,007. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 49.24 and a beta of 0.60. 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 12 month low of $240.33 and a 12 month high of $330.00.
Several institutional investors and hedge funds have recently bought and sold shares of MSG. First Citizens Bank & Trust Co. grew its stake in Madison Square Garden by 15.8% during the first quarter. First Citizens Bank & Trust Co. now owns 3,598 shares of the company’s stock valued at $1,055,000 after acquiring an additional 490 shares in the last quarter. Keybank National Association OH grew its stake in Madison Square Garden by 121.6% during the fourth quarter. Keybank National Association OH now owns 4,607 shares of the company’s stock valued at $1,233,000 after acquiring an additional 2,528 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Madison Square Garden during the fourth quarter valued at approximately $5,113,000. Private Advisors LLC grew its stake in 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 acquiring an additional 59 shares in the last quarter. Finally, Quinn Opportunity Partners LLC grew its stake in Madison Square Garden by 42.4% during the fourth quarter. Quinn Opportunity Partners LLC now owns 11,750 shares of the company’s stock valued at $3,145,000 after acquiring an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.
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.