Madison Square Garden Sports Corp. (NYSE:MSGS – Get Rating) – Investment analysts at Jefferies Financial Group raised their Q2 2023 earnings per share estimates for shares of Madison Square Garden Sports in a research report issued to clients and investors on Friday, August 19th. Jefferies Financial Group analyst D. Katz now anticipates that the company will post earnings per share of $1.46 for the quarter, up from their previous forecast of $1.26. The consensus estimate for Madison Square Garden Sports’ current full-year earnings is $1.19 per share. Jefferies Financial Group also issued estimates for Madison Square Garden Sports’ Q1 2024 earnings at ($1.10) EPS, Q2 2024 earnings at $1.41 EPS, Q3 2024 earnings at $1.78 EPS and Q4 2024 earnings at ($0.71) EPS.
Madison Square Garden Sports (NYSE:MSGS – Get Rating) last posted its quarterly earnings results on Thursday, August 18th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $1.40. The business had revenue of $175.20 million for the quarter, compared to analyst estimates of $93.49 million. Madison Square Garden Sports had a negative return on equity of 24.75% and a net margin of 6.23%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the company earned $2.03 EPS.
Several other brokerages also recently commented on MSGS. Macquarie dropped their price objective on Madison Square Garden Sports from $240.00 to $230.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 5th. Wolfe Research dropped their price objective on Madison Square Garden Sports from $238.00 to $231.00 and set an “outperform” rating on the stock in a research note on Thursday, June 2nd. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $220.25.
Madison Square Garden Sports Trading Up 1.8 %
Shares of Madison Square Garden Sports stock opened at $173.86 on Monday. The company has a market capitalization of $4.21 billion, a PE ratio of 83.59 and a beta of 0.88. Madison Square Garden Sports has a 12 month low of $145.41 and a 12 month high of $203.37. The stock’s fifty day simple moving average is $154.76 and its 200 day simple moving average is $163.71.
Institutional Trading of Madison Square Garden Sports
Hedge funds and other institutional investors have recently modified their holdings of the stock. SeaCrest Wealth Management LLC bought a new position in Madison Square Garden Sports during the second quarter worth about $27,000. Quadrant Capital Group LLC grew its holdings in Madison Square Garden Sports by 73.7% during the second quarter. Quadrant Capital Group LLC now owns 165 shares of the company’s stock worth $25,000 after purchasing an additional 70 shares during the period. Trust Co. of Vermont bought a new position in Madison Square Garden Sports during the second quarter worth about $26,000. Northwestern Mutual Wealth Management Co. bought a new position in Madison Square Garden Sports during the first quarter worth about $46,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Madison Square Garden Sports during the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 67.12% of the company’s stock.
About Madison Square Garden Sports
Madison Square Garden Sports Corp. operates as a professional sports company. The company owns and operates a portfolio of assets consists of the New York Knickerbockers of the National Basketball Association NBA and the New York Rangers of the National Hockey League NHL. Its other professional franchises include two development league teams, the Hartford Wolf Pack of the American Hockey League (AHL) and the Westchester Knicks of the NBA G League (NBAGL).
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