The Madison Square Garden (MSG) Lowered to “Equal Weight” at Morgan Stanley

Morgan Stanley lowered shares of The Madison Square Garden (NYSE:MSG) from an overweight rating to an equal weight rating in a report published on Tuesday. The firm currently has $245.00 price objective on the stock, up from their prior price objective of $218.50.

A number of other research analysts have also commented on the company. ValuEngine lowered The Madison Square Garden from a hold rating to a sell rating in a research report on Friday, December 1st. Zacks Investment Research lowered The Madison Square Garden from a hold rating to a sell rating in a research report on Thursday, November 9th. Loop Capital increased their price objective on The Madison Square Garden from $266.00 to $268.00 and gave the company a buy rating in a research report on Monday, November 6th. Jefferies Group reiterated a hold rating and issued a $200.00 price objective on shares of The Madison Square Garden in a research report on Tuesday, October 24th. Finally, BTIG Research set a $260.00 price objective on The Madison Square Garden and gave the company a buy rating in a research report on Monday, September 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The Madison Square Garden has a consensus rating of Hold and an average price target of $217.78.

The Madison Square Garden (NYSE:MSG) traded down $6.25 during midday trading on Tuesday, reaching $212.25. The company had a trading volume of 412,500 shares, compared to its average volume of 177,722. The Madison Square Garden has a 1-year low of $166.86 and a 1-year high of $231.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.92 and a current ratio of 1.92.

The Madison Square Garden (NYSE:MSG) last announced its quarterly earnings data on Friday, November 3rd. The company reported ($0.47) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.18. The firm had revenue of $245.04 million for 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 business’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same period last year, the company earned ($1.19) EPS. analysts forecast that The Madison Square Garden will post 0.66 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of The Madison Square Garden by 78.9% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 592 shares of the company’s stock valued at $127,000 after purchasing an additional 261 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in The Madison Square Garden by 8.9% during 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. The Manufacturers Life Insurance Company raised its stake in The Madison Square Garden by 5.6% during 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. Maverick Capital Ltd. acquired a new stake in The Madison Square Garden during the 2nd quarter worth $176,000. Finally, South State Corp acquired a new stake in The Madison Square Garden during the 2nd quarter worth $203,000. 71.28% of the stock is currently owned by institutional investors.

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The Madison Square Garden Company Profile

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.

Analyst Recommendations for The Madison Square Garden (NYSE:MSG)

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