Imperial Capital Trims Madison Square Garden (NYSE:MSG) Target Price to $358.00

Madison Square Garden (NYSE:MSG) had its target price decreased by Imperial Capital from $362.00 to $358.00 in a research note published on Monday, Briefing.com Automated Import reports. Imperial Capital currently has an outperform rating on the stock.

Several other equities analysts have also recently issued reports on MSG. ValuEngine upgraded Madison Square Garden from a buy rating to a strong-buy rating in a research note on Friday, August 2nd. Guggenheim set a $350.00 price objective on Madison Square Garden and gave the stock a buy rating in a research note on Wednesday, August 21st. Finally, Morgan Stanley reduced their price objective on Madison Square Garden from $340.00 to $320.00 and set an equal weight rating on the stock in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Madison Square Garden currently has a consensus rating of Buy and a consensus price target of $343.25.

MSG traded down $2.95 during trading hours on Monday, hitting $270.88. 147,292 shares of the stock were exchanged, compared to its average volume of 186,792. The stock has a 50-day simple moving average of $267.76 and a 200-day simple moving average of $280.64. Madison Square Garden has a 12 month low of $240.33 and a 12 month high of $315.95. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 564.33 and a beta of 0.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.55 and a quick ratio of 1.86.

Madison Square Garden (NYSE:MSG) last announced its quarterly earnings data on Friday, November 8th. The company reported ($3.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.29) by ($1.07). Madison Square Garden had a negative return on equity of 1.38% and a negative net margin of 2.23%. The firm had revenue of $214.78 million for the quarter, compared to the consensus estimate of $227.52 million. During the same quarter last year, the business earned ($1.36) earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts expect that Madison Square Garden will post -0.85 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in MSG. Hudock Capital Group LLC increased its position in Madison Square Garden by 122.2% in the third quarter. Hudock Capital Group LLC now owns 100 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the period. Citizens Financial Group Inc RI acquired a new stake in Madison Square Garden in the third quarter worth $26,000. AdvisorNet Financial Inc acquired a new stake in Madison Square Garden in the second quarter worth $30,000. Usca Ria LLC acquired a new stake in Madison Square Garden in the third quarter worth $40,000. Finally, Advisory Services Network LLC increased its position in Madison Square Garden by 850.0% in the second quarter. Advisory Services Network LLC now owns 171 shares of the company’s stock worth $48,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 71.64% of the company’s stock.

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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