Wall Street analysts expect that Madison Square Garden Sports Corp. (NYSE:MSGS) will announce earnings per share (EPS) of ($0.63) for the current quarter, according to Zacks. Three analysts have issued estimates for Madison Square Garden Sports’ earnings. The highest EPS estimate is ($0.42) and the lowest is ($0.98). Madison Square Garden Sports posted earnings of ($3.26) per share during the same quarter last year, which would suggest a positive year over year growth rate of 80.7%. The company is expected to announce its next quarterly earnings results on Friday, August 13th.
On average, analysts expect that Madison Square Garden Sports will report full-year earnings of ($3.34) per share for the current year, with EPS estimates ranging from ($3.61) to ($3.06). For the next financial year, analysts expect that the company will post earnings of $0.96 per share, with EPS estimates ranging from $0.84 to $1.07. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Madison Square Garden Sports.
Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings data on Wednesday, May 5th. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.68) by $1.90. The firm had revenue of $183.01 million during the quarter, compared to analyst estimates of $149.89 million. Madison Square Garden Sports’s revenue was down 31.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($4.92) earnings per share.
Separately, Zacks Investment Research raised Madison Square Garden Sports from a “hold” rating to a “buy” rating and set a $194.00 price target for the company in a report on Tuesday, July 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Madison Square Garden Sports has a consensus rating of “Buy” and a consensus price target of $207.60.
A number of institutional investors have recently added to or reduced their stakes in MSGS. Northern Trust Corp acquired a new stake in Madison Square Garden Sports in the fourth quarter valued at $16,410,000. The Manufacturers Life Insurance Company purchased a new position in shares of Madison Square Garden Sports in the fourth quarter valued at $10,880,000. Public Employees Retirement System of Ohio purchased a new position in shares of Madison Square Garden Sports in the fourth quarter valued at $1,994,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Madison Square Garden Sports in the fourth quarter valued at $232,000. Finally, Federated Hermes Inc. purchased a new position in shares of Madison Square Garden Sports in the fourth quarter valued at $2,625,000. 66.05% of the stock is owned by institutional investors.
Shares of MSGS stock traded up $0.46 during trading hours on Friday, hitting $163.85. The stock had a trading volume of 1 shares, compared to its average volume of 214,870. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -27.72 and a beta of 0.99. Madison Square Garden Sports has a twelve month low of $140.15 and a twelve month high of $207.09. The stock has a 50 day moving average price of $176.13.
Madison Square Garden Sports Company Profile
Madison Square Garden Sports Corp. is a professional sports company. It owns and operates a portfolio of assets featuring some of the teams in all of sports, including the New York Knickerbockers (the Knicks) of the National Basketball Association (N(BA)) and the New York Rangers (the Rangers) of the National Hockey League (NHL).
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