The Madison Square Garden Company (NYSE:MSG) is scheduled to be announcing its earnings results before the market opens on Friday, November 3rd. Analysts expect the company to announce earnings of ($0.90) per share for the quarter.
The Madison Square Garden (NYSE:MSG) last posted its quarterly earnings data on Thursday, August 17th. The company reported ($3.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($2.48). The firm had revenue of $305.60 million during the quarter, compared to analysts’ expectations of $279.19 million. The Madison Square Garden had a negative net margin of 5.52% and a negative return on equity of 2.43%. The business’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the company earned ($2.39) earnings per share. On average, analysts expect The Madison Square Garden to post $0.65 EPS for the current fiscal year and $1.22 EPS for the next fiscal year.
A hedge fund recently raised its stake in The Madison Square Garden stock. The Manufacturers Life Insurance Company increased its holdings in shares of The Madison Square Garden Company (NYSE:MSG) by 5.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 751 shares of the company’s stock after acquiring an additional 40 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in The Madison Square Garden were worth $148,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 70.90% of the company’s stock.
Several research analysts recently commented on MSG shares. Zacks Investment Research downgraded shares of The Madison Square Garden from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $200.00 target price on shares of The Madison Square Garden in a report on Tuesday, October 24th. Morgan Stanley reiterated an “overweight” rating and issued a $245.00 target price (up previously from $215.00) on shares of The Madison Square Garden in a report on Tuesday, July 25th. Finally, BTIG Research reiterated a “buy” rating and issued a $260.00 target price (up previously from $240.00) on shares of The Madison Square Garden in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The Madison Square Garden currently has a consensus rating of “Hold” and a consensus price target of $211.50.
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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