Analysts Set The Madison Square Garden Company (NYSE:MSGS) Price Target at $356.80

Shares of The Madison Square Garden Company (NYSE:MSGS) have been given a consensus recommendation of “Hold” by the nine analysts that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $356.80.

Several equities analysts have commented on MSGS shares. Seaport Research Partners increased their price objective on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Citigroup increased their price objective on shares of Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 27th. Guggenheim increased their price objective on shares of Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Finally, Wall Street Zen cut Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th.

Madison Square Garden Trading Up 0.4%

NYSE:MSGS opened at $385.69 on Friday. The company has a market capitalization of $9.29 billion, a P/E ratio of -414.71 and a beta of 0.61. Madison Square Garden has a 12 month low of $186.00 and a 12 month high of $392.56. The business’s 50-day moving average is $346.40 and its 200 day moving average is $302.06.

Madison Square Garden (NYSE:MSGS) last posted its earnings results on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company had revenue of $432.20 million during the quarter, compared to the consensus estimate of $429.66 million. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.59) EPS. On average, research analysts forecast that Madison Square Garden will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On Madison Square Garden

Large investors have recently added to or reduced their stakes in the stock. DGS Capital Management LLC boosted its position in shares of Madison Square Garden by 4.8% during the first quarter. DGS Capital Management LLC now owns 832 shares of the company’s stock valued at $267,000 after buying an additional 38 shares during the period. Salomon & Ludwin LLC grew its holdings in shares of Madison Square Garden by 33.1% in the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after purchasing an additional 39 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Madison Square Garden by 26.5% in the fourth quarter. Allworth Financial LP now owns 196 shares of the company’s stock worth $51,000 after purchasing an additional 41 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Madison Square Garden by 35.0% in the first quarter. EverSource Wealth Advisors LLC now owns 162 shares of the company’s stock worth $52,000 after purchasing an additional 42 shares during the last quarter. Finally, Cibc World Market Inc. grew its holdings in shares of Madison Square Garden by 2.3% in the fourth quarter. Cibc World Market Inc. now owns 1,924 shares of the company’s stock worth $498,000 after purchasing an additional 43 shares during the last quarter. 68.94% of the stock is owned by institutional investors.

About Madison Square Garden

Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA’s New York Knicks, the NHL’s New York Rangers and the WNBA’s New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.