The Madison Square Garden (NYSE:MSG) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Tuesday. They currently have a $245.00 price objective on the stock, up from their previous price objective of $218.50. Morgan Stanley’s price objective indicates a potential upside of 15.79% from the stock’s current price.

Several other equities analysts also recently weighed in on the stock. BTIG Research set a $260.00 target price on shares of The Madison Square Garden and gave the company a “buy” rating in a report on Monday, September 11th. Zacks Investment Research downgraded shares of The Madison Square Garden from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Loop Capital raised their target price on shares of The Madison Square Garden from $266.00 to $268.00 and gave the company a “buy” rating in a report on Monday, November 6th. Jefferies Group restated a “hold” rating and set a $200.00 target price on shares of The Madison Square Garden in a report on Tuesday, October 24th. Finally, ValuEngine downgraded shares of The Madison Square Garden from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The Madison Square Garden presently has an average rating of “Hold” and a consensus target price of $217.78.

The Madison Square Garden (NYSE:MSG) opened at $211.59 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.04. The Madison Square Garden has a twelve month low of $166.86 and a twelve month high of $231.44.

The Madison Square Garden (NYSE:MSG) last announced its quarterly earnings results on Friday, November 3rd. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.18. The business had revenue of $245.04 million during the quarter, compared to the consensus estimate of $237.06 million. The Madison Square Garden had a negative net margin of 4.00% and a negative return on equity of 1.75%. The business’s revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.19) EPS. analysts expect that The Madison Square Garden will post 0.66 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of The Madison Square Garden by 78.9% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 592 shares of the company’s stock worth $127,000 after acquiring an additional 261 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of The Madison Square Garden by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 712 shares of the company’s stock worth $140,000 after acquiring an additional 58 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of The Madison Square Garden by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock worth $148,000 after acquiring an additional 40 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in shares of The Madison Square Garden in the second quarter worth approximately $176,000. Finally, South State Corp acquired a new position in The Madison Square Garden during the second quarter valued at approximately $203,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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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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