Madison Square Garden (NYSE:MSGS – Get Free Report) released its quarterly earnings data on Friday. The company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.20), FiscalAI reports. Madison Square Garden had a negative return on equity of 3.47% and a net margin of 0.67%. The business had revenue of $45.49 million for the quarter, compared to analyst estimates of $40.67 million.
Madison Square Garden Price Performance
The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 1,290.87 and a beta of 0.62. Madison Square Garden has a one year low of $207.90 and a one year high of $438.93. The firm’s 50-day moving average price is $396.32 and its 200-day moving average price is $361.33.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on MSGS shares. JPMorgan Chase & Co. upped their target price on Madison Square Garden from $450.00 to $485.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Weiss Ratings upgraded Madison Square Garden from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Morgan Stanley raised Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 price target on the stock in a report on Wednesday, July 15th. Zacks Research upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Sunday, August 23rd. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $471.20.
Get Our Latest Research Report on Madison Square Garden
About Madison Square Garden
Madison Square Garden Sports Corp. is a professional sports company that owns and operates the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League. Its teams also include the Westchester Knicks of the NBA G League and the Hartford Wolf Pack of the American Hockey League.
The company’s activities include managing team operations and developing revenue through media rights, sponsorships, ticketing and team-related merchandise. Its teams are based in the New York metropolitan region, with a fan base and commercial reach that extend beyond the area.
Madison Square Garden Sports became an independent, publicly traded company in 2020, when The Madison Square Garden Company separated its sports operations from its entertainment and venue businesses.
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