MSG Knickerbockers (NYSE:MSGK – Get Free Report) issued its earnings results on Friday. The company reported ($1.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.11), Zacks reports. The company had revenue of $45.49 million during the quarter, compared to analyst estimates of $39.78 million. MSG Knickerbockers had a net margin of 0.67% and a negative return on equity of 3.47%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year.
MSG Knickerbockers Price Performance
Shares of MSG Knickerbockers stock traded down $7.14 on Friday, hitting $310.21. The stock had a trading volume of 394,733 shares, compared to its average volume of 381,923. MSG Knickerbockers has a twelve month low of $210.90 and a twelve month high of $438.93. The company has a market capitalization of $7.47 billion, a P/E ratio of 1,034.06 and a beta of 0.63.
Analyst Ratings Changes
MSGK has been the subject of several research analyst reports. Zacks Research downgraded shares of MSG Knickerbockers from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. Wolfe Research upgraded MSG Knickerbockers from a “peer perform” rating to an “outperform” rating in a research note on Wednesday. Weiss Ratings started coverage on MSG Knickerbockers in a report on Wednesday, October 28th. They set a “hold (c)” rating on the stock. Finally, Guggenheim reduced their price objective on MSG Knickerbockers from $584.00 to $445.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $445.00.
Read Our Latest Research Report on MSGK
Key MSG Knickerbockers News
Here are the key news stories impacting MSG Knickerbockers this week:
- Positive Sentiment: Revenue was $45.5 million, above FactSet’s $39.3 million estimate, and increased 15.2% year over year. The company also reported a narrower operating loss. Revenue estimate report
- Positive Sentiment: Wolfe Research raised its rating on MSGK to Outperform, a potentially supportive analyst signal. Wolfe Research rating report
- Neutral Sentiment: The quarter ended September 30, and its consolidated results include the Rangers business; MSGK completed the Rangers spin-off on October 26. This makes the reported quarter less directly comparable with future results. Company earnings release
- Negative Sentiment: MSGK reported a loss of $1.29 per share, missing the $1.18 loss analysts expected. The loss was also wider than the $0.37 per-share loss a year earlier, which could outweigh the revenue beat for investors. Zacks earnings report
About MSG Knickerbockers
MSG Knickerbockers, Inc is the corporate entity associated with the New York Knicks, the National Basketball Association (NBA) franchise based at Madison Square Garden in New York City. The organization’s primary activities include operating and managing the professional basketball team, organizing games and related events, and developing commercial opportunities connected with the Knicks brand.
The Knicks generate business through ticket sales, premium seating, sponsorships, media and broadcasting arrangements, merchandising, licensing, and other fan-focused products and services.
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