Madison Square Garden Sports Corp. (NYSE:MSGS) – Investment analysts at Oppenheimer raised their FY2022 earnings per share (EPS) estimates for shares of Madison Square Garden Sports in a research report issued to clients and investors on Wednesday, May 5th. Oppenheimer analyst I. Zaffino now anticipates that the company will post earnings per share of $1.04 for the year, up from their previous estimate of $0.96. Madison Square Garden Sports (NYSE:MSGS) last announced its earnings results on Wednesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.68) by $1.90. The firm had revenue of $183.01 million during the quarter, compared to analysts’ expectations of $149.89 million. The company’s revenue for the quarter was down 31.6% on a year-over-year basis. During the same period in the previous year, the business posted ($4.92) earnings per share.
A number of other analysts have also recently weighed in on the company. Zacks Investment Research cut Madison Square Garden Sports from a “hold” rating to a “sell” rating in a research report on Thursday, February 11th. Macquarie increased their price objective on Madison Square Garden Sports from $190.00 to $205.00 and gave the stock an “outperform” rating in a report on Thursday, February 4th. Morgan Stanley boosted their price target on Madison Square Garden Sports from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 19th. Finally, Barclays started coverage on Madison Square Garden Sports in a research note on Monday, January 11th. They issued an “overweight” rating and a $224.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Madison Square Garden Sports currently has a consensus rating of “Buy” and an average price target of $205.89.
NYSE:MSGS traded up $3.90 on Friday, reaching $184.71. The company’s stock had a trading volume of 261 shares, compared to its average volume of 221,957. Madison Square Garden Sports has a 12-month low of $140.15 and a 12-month high of $207.09. The stock has a 50 day moving average price of $183.10 and a 200 day moving average price of $181.47. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of -33.24 and a beta of 1.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of MSGS. Blueshift Asset Management LLC bought a new position in shares of Madison Square Garden Sports in the 1st quarter worth $1,230,000. Grace Capital grew its position in Madison Square Garden Sports by 1.9% during the 1st quarter. Grace Capital now owns 16,500 shares of the company’s stock worth $1,906,000 after acquiring an additional 300 shares during the last quarter. Fernwood Investment Management LLC lifted its holdings in Madison Square Garden Sports by 8.3% in the 1st quarter. Fernwood Investment Management LLC now owns 6,835 shares of the company’s stock worth $1,227,000 after buying an additional 525 shares during the period. Lowell Blake & Associates Inc. lifted its holdings in Madison Square Garden Sports by 15.9% in the 1st quarter. Lowell Blake & Associates Inc. now owns 11,944 shares of the company’s stock worth $2,143,000 after buying an additional 1,640 shares during the period. Finally, Natixis Advisors L.P. purchased a new position in shares of Madison Square Garden Sports in the 1st quarter valued at approximately $2,157,000. Institutional investors and hedge funds own 70.34% of the company’s stock.
Madison Square Garden Sports Company Profile
Madison Square Garden Sports Corp. operates as a professional sports company. Its portfolio of assets include the New York Knickerbockers of the National Basketball Association (N(BA)), and the New York Rangers of the National Hockey League; two development league teams, including the Hartford Wolf Pack of the American Hockey League, and the Westchester Knicks of the N(BA) G League; Knicks Gaming, an esports franchise; and esports teams.
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