Madison Square Garden (NYSE:MSGS) Issues Quarterly Earnings Results, Misses Estimates By $0.20 EPS

Madison Square Garden (NYSE:MSGS) posted its quarterly earnings data on Friday. The company reported ($1.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.20), FiscalAI reports. The business had revenue of $45.49 million for the quarter, compared to analyst estimates of $40.67 million. Madison Square Garden had a negative return on equity of 3.47% and a net margin of 0.67%.

Madison Square Garden Price Performance

NYSE MSGS traded up $2.86 on Friday, reaching $387.25. 261,295 shares of the company’s stock traded hands, compared to its average volume of 384,217. The stock has a market cap of $9.32 billion, a PE ratio of 1,290.87 and a beta of 0.62. The stock has a 50-day simple moving average of $396.46 and a 200 day simple moving average of $360.82. Madison Square Garden has a 12 month low of $207.90 and a 12 month high of $438.93.

Wall Street Analyst Weigh In

MSGS has been the subject of a number of research reports. Guggenheim lifted their target price on Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Wall Street Zen upgraded Madison Square Garden from a “sell” rating to a “hold” rating in a research note on Sunday, August 23rd. JPMorgan Chase & Co. boosted their target price on shares of Madison Square Garden from $450.00 to $485.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Morgan Stanley upgraded shares of Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 price target on the stock in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised Madison Square Garden from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Madison Square Garden presently has a consensus rating of “Moderate Buy” and an average target price of $471.20.

Madison Square Garden Company Profile

Madison Square Garden Sports Corp. (NYSE: MSGS) is a sports and entertainment company that owns and operates professional sports franchises. Its principal assets include the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League. The company also owns the NBA G League’s Westchester Knicks and operates team-related businesses involving ticketing, sponsorships, media rights, merchandising and licensing.

Through its teams and related commercial activities, Madison Square Garden Sports serves fans primarily in the New York metropolitan area while reaching national and international audiences through league broadcasts, digital media, live events and branded merchandise.