Madison Square Garden Co (NYSE:MSG) – Research analysts at Imperial Capital cut their Q4 2020 earnings per share (EPS) estimates for shares of Madison Square Garden in a research note issued on Wednesday, August 14th. Imperial Capital analyst D. Miller now forecasts that the company will earn ($2.09) per share for the quarter, down from their prior forecast of ($2.03). Imperial Capital currently has a “Outperform” rating and a $376.00 target price on the stock. Imperial Capital also issued estimates for Madison Square Garden’s Q4 2021 earnings at ($2.25) EPS.
Madison Square Garden (NYSE:MSG) last released its quarterly earnings data on Tuesday, August 20th. The company reported ($3.08) earnings per share for the quarter, missing the consensus estimate of ($2.34) by ($0.74). Madison Square Garden had a return on equity of 1.48% and a net margin of 2.29%. The business had revenue of $263.56 million during the quarter, compared to analysts’ expectations of $270.09 million. During the same quarter last year, the business posted ($1.94) EPS. The company’s quarterly revenue was down 17.1% compared to the same quarter last year.
Shares of NYSE:MSG opened at $267.33 on Monday. Madison Square Garden has a 52-week low of $240.33 and a 52-week high of $317.70. The firm has a market capitalization of $6.93 billion, a P/E ratio of 45.01 and a beta of 0.48. The stock has a 50 day moving average price of $287.34 and a 200-day moving average price of $293.48. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.07 and a current ratio of 2.07.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Madison Square Garden by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,602,586 shares of the company’s stock valued at $448,627,000 after buying an additional 4,972 shares in the last quarter. BlackRock Inc. increased its position in Madison Square Garden by 8.4% during the 2nd quarter. BlackRock Inc. now owns 1,044,764 shares of the company’s stock valued at $292,473,000 after buying an additional 80,714 shares in the last quarter. Atalan Capital Partners LP increased its position in Madison Square Garden by 33.3% during the 2nd quarter. Atalan Capital Partners LP now owns 319,900 shares of the company’s stock valued at $89,553,000 after buying an additional 79,900 shares in the last quarter. UBS Group AG increased its position in Madison Square Garden by 19.9% during the 2nd quarter. UBS Group AG now owns 200,268 shares of the company’s stock valued at $56,063,000 after buying an additional 33,288 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Madison Square Garden by 293.6% during the 2nd quarter. Renaissance Technologies LLC now owns 187,752 shares of the company’s stock valued at $52,559,000 after buying an additional 140,052 shares in the last quarter. 72.56% 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.
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