Madison Square Garden Co (NYSE:MSG) – Stock analysts at Imperial Capital upped their FY2020 earnings estimates for shares of Madison Square Garden in a note issued to investors on Wednesday, January 8th. Imperial Capital analyst D. Miller now anticipates that the company will post earnings of ($1.38) per share for the year, up from their prior forecast of ($1.44). Imperial Capital currently has a “Outperform” rating and a $360.00 price target on the stock. Imperial Capital also issued estimates for Madison Square Garden’s Q4 2020 earnings at ($2.04) EPS, Q1 2021 earnings at ($2.35) EPS, Q4 2021 earnings at ($2.24) EPS and FY2021 earnings at $0.41 EPS.
Madison Square Garden (NYSE:MSG) last posted its earnings results on Friday, November 8th. The company reported ($3.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.29) by ($1.07). Madison Square Garden had a negative net margin of 2.23% and a negative return on equity of 1.38%. The business had revenue of $214.78 million during the quarter, compared to analyst estimates of $227.52 million. During the same period in the previous year, the firm posted ($1.36) earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis.
Other analysts have also recently issued reports about the company. Jefferies Financial Group initiated coverage on Madison Square Garden in a research note on Tuesday, December 17th. They set a “buy” rating and a $370.00 target price for the company. ValuEngine lowered shares of Madison Square Garden from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Madison Square Garden has a consensus rating of “Buy” and an average target price of $349.00.
Shares of MSG opened at $297.38 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $287.35 and a 200 day simple moving average of $276.69. Madison Square Garden has a 52-week low of $247.57 and a 52-week high of $315.95.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Griffin Asset Management Inc. raised its position in Madison Square Garden by 0.9% in the 2nd 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. Hudock Capital Group LLC lifted its position in shares of Madison Square Garden by 122.2% in the third quarter. Hudock Capital Group LLC now owns 100 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Madison Square Garden by 0.6% in the second quarter. Treasurer of the State of North Carolina now owns 8,972 shares of the company’s stock worth $2,512,000 after purchasing an additional 56 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC lifted its position in shares of Madison Square Garden by 6.9% in the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 927 shares of the company’s stock worth $273,000 after purchasing an additional 60 shares in the last quarter. Finally, First Bank & Trust boosted its holdings in Madison Square Garden by 18.3% during the third quarter. First Bank & Trust now owns 433 shares of the company’s stock worth $114,000 after purchasing an additional 67 shares during the last quarter. 70.47% of the stock is owned by hedge funds and other 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.