Brokerages Expect The Madison Square Garden Company (MSG) Will Post Earnings of $1.93 Per Share

Wall Street analysts forecast that The Madison Square Garden Company (NYSE:MSG) will post earnings of $1.93 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for The Madison Square Garden’s earnings, with the lowest EPS estimate coming in at $1.69 and the highest estimate coming in at $2.39. The Madison Square Garden posted earnings of $2.39 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 19.2%. The firm is expected to announce its next quarterly earnings results on Friday, February 2nd.

On average, analysts expect that The Madison Square Garden will report full-year earnings of $0.66 per share for the current fiscal year, with EPS estimates ranging from $0.35 to $0.95. For the next financial year, analysts forecast that the firm will post earnings of $0.97 per share, with EPS estimates ranging from $0.45 to $1.59. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for The Madison Square Garden.

The Madison Square Garden (NYSE:MSG) last posted its quarterly earnings data on Friday, November 3rd. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.18. The firm had revenue of $245.04 million during the quarter, compared to analyst estimates of $237.06 million. The Madison Square Garden had a negative return on equity of 1.75% and a negative net margin of 4.00%. The Madison Square Garden’s revenue was up 34.9% on a year-over-year basis. During the same period in the prior year, the business posted ($1.19) EPS.

Several research firms have recently commented on MSG. Zacks Investment Research upgraded The Madison Square Garden from a “hold” rating to a “buy” rating and set a $235.00 price objective for the company in a research note on Thursday. Jefferies Group restated a “hold” rating and issued a $200.00 price objective on shares of The Madison Square Garden in a research note on Tuesday, October 24th. Loop Capital upped their price objective on The Madison Square Garden from $266.00 to $268.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. ValuEngine lowered The Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, BTIG Research set a $260.00 price objective on The Madison Square Garden and gave the stock a “buy” rating in a research note on Monday, September 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The Madison Square Garden presently has an average rating of “Hold” and a consensus target price of $219.00.

The Madison Square Garden (NYSE MSG) traded down $0.22 during trading hours on Tuesday, hitting $211.08. The stock had a trading volume of 106,700 shares, compared to its average volume of 133,733. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.92 and a quick ratio of 1.92. The stock has a market cap of $4,978.02, a price-to-earnings ratio of -87.95 and a beta of 1.09. The Madison Square Garden has a 52-week low of $166.86 and a 52-week high of $231.44.

A number of institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in The Madison Square Garden by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock worth $148,000 after buying an additional 40 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in The Madison Square Garden by 8.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 712 shares of the company’s stock worth $140,000 after buying an additional 58 shares during the period. Prudential Financial Inc. boosted its holdings in The Madison Square Garden by 5.6% in the 2nd quarter. Prudential Financial Inc. now owns 1,326 shares of the company’s stock worth $261,000 after buying an additional 70 shares during the period. HighTower Advisors LLC boosted its holdings in The Madison Square Garden by 1.5% in the 2nd quarter. HighTower Advisors LLC now owns 6,544 shares of the company’s stock worth $1,290,000 after buying an additional 94 shares during the period. Finally, Elgethun Capital Management boosted its holdings in The Madison Square Garden by 0.9% in the 2nd quarter. Elgethun Capital Management now owns 9,989 shares of the company’s stock worth $1,967,000 after buying an additional 94 shares during the period. 71.26% of the stock is owned by institutional investors.

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About The Madison Square Garden

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

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Earnings History and Estimates for The Madison Square Garden (NYSE:MSG)

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