Madison Square Garden (MSG) Reaches New 52-Week High at $281.17

Madison Square Garden Co (NYSE:MSG)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $281.17 and last traded at $277.85, with a volume of 47527 shares trading hands. The stock had previously closed at $274.90.

MSG has been the subject of several research analyst reports. ValuEngine upgraded Madison Square Garden from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded Madison Square Garden from a “hold” rating to a “strong-buy” rating and set a $278.00 price objective for the company in a research report on Thursday, April 5th. Morgan Stanley lifted their price objective on Madison Square Garden from $245.00 to $260.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 2nd. Finally, TheStreet downgraded Madison Square Garden from a “b-” rating to a “c-” rating in a research report on Wednesday, May 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $253.20.

The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of -253.19 and a beta of 0.51. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.85 and a quick ratio of 1.85.



Madison Square Garden (NYSE:MSG) last released its earnings results on Wednesday, May 2nd. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.63. The company had revenue of $459.60 million during the quarter, compared to the consensus estimate of $446.89 million. Madison Square Garden had a return on equity of 0.07% and a net margin of 6.68%. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.74) earnings per share. equities analysts forecast that Madison Square Garden Co will post 1.23 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. bought a new stake in shares of Madison Square Garden during the first quarter worth $190,000. Griffin Asset Management Inc. bought a new stake in shares of Madison Square Garden during the first quarter worth $204,000. Levin Capital Strategies L.P. bought a new stake in shares of Madison Square Garden during the first quarter worth $208,000. CIBC World Markets Inc. bought a new stake in shares of Madison Square Garden during the first quarter worth $231,000. Finally, Chicago Equity Partners LLC bought a new stake in shares of Madison Square Garden during the first quarter worth $238,000. Institutional investors own 71.02% of the company’s stock.

Madison Square Garden Company Profile

The Madison Square Garden Company, through its subsidiaries, engages in 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, as well as promotes, produces, and/or presents a range 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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