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Madison Square Garden Sports Corp. (NYSE:MSGS – Get Rating) – Investment analysts at Jefferies Financial Group raised their Q2 2023 earnings per share (EPS) estimates for shares of Madison Square Garden Sports in a research note issued to investors on Friday, August 19th. Jefferies Financial Group analyst D. Katz now expects that the company will post earnings per share of $1.46 for the quarter, up from their prior estimate 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.
Other equities analysts have also recently issued research reports about the company. Macquarie decreased their price objective on Madison Square Garden Sports from $240.00 to $230.00 and set an “outperform” rating for the company in a research note on Tuesday, July 5th. Wolfe Research decreased their target price on Madison Square Garden Sports from $238.00 to $231.00 and set an “outperform” rating for the company in a research note on Thursday, June 2nd. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Madison Square Garden Sports has an average rating of “Moderate Buy” and an average target price of $220.25.
Madison Square Garden Sports Price Performance
NYSE MSGS opened at $173.86 on Monday. The company has a market cap of $4.21 billion, a P/E ratio of 83.59 and a beta of 0.88. The stock has a 50-day moving average of $154.76 and a two-hundred day moving average of $163.71. Madison Square Garden Sports has a 1-year low of $145.41 and a 1-year high of $203.37.
Madison Square Garden Sports (NYSE:MSGS – Get Rating) last issued its quarterly earnings data on Thursday, August 18th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $1.40. The firm had revenue of $175.20 million during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the company earned $2.03 EPS.
Institutional Investors Weigh In On Madison Square Garden Sports
Hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its position in Madison Square Garden Sports by 73.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 165 shares of the company’s stock valued at $25,000 after purchasing an additional 70 shares during the period. Trust Co. of Vermont acquired a new stake in shares of Madison Square Garden Sports during the second quarter worth $26,000. SeaCrest Wealth Management LLC acquired a new position in Madison Square Garden Sports during the second quarter valued at $27,000. McIlrath & Eck LLC acquired a new position in Madison Square Garden Sports during the second quarter valued at $45,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Madison Square Garden Sports in the first quarter valued at about $46,000. 67.12% of the stock is currently owned by hedge funds and other institutional investors.
Madison Square Garden Sports Company Profile
(Get Rating)
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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