The Equities Analysts Issue Forecasts for Madison Square Garden Co’s Q1 2017 Earnings (MSG)

The Equities Analysts Issue Forecasts for Madison Square Garden Co’s Q1 2017 Earnings (MSG)

Madison Square Garden Co (NYSE:MSG) – Equities researchers at Jefferies Group lifted their Q1 2017 earnings per share estimates for shares of Madison Square Garden in a research report issued to clients and investors on Monday. Jefferies Group analyst J. Janedis now anticipates that the firm will post earnings of ($1.01) per share for the quarter, up from their prior estimate of ($1.14). Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Madison Square Garden’s Q2 2017 earnings at $1.31 EPS, Q3 2017 earnings at ($0.19) EPS, Q4 2017 earnings at ($0.64) EPS, FY2017 earnings at ($0.52) EPS and FY2018 earnings at ($0.59) EPS.

Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Madison Square Garden from a “hold” rating to a “sell” rating in a report on Wednesday. Albert Fried & Company cut their target price on Madison Square Garden from $170.00 to $150.00 and set a “market perform” rating on the stock in a report on Wednesday, September 28th. Loop Capital reaffirmed a “buy” rating and set a $217.00 target price on shares of Madison Square Garden in a report on Saturday, September 3rd. Finally, Stifel Nicolaus lifted their target price on Madison Square Garden from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $159.75.

Madison Square Garden (NYSE:MSG) traded down 1.14% on Wednesday, hitting $166.21. The stock had a trading volume of 40,086 shares. The stock’s market capitalization is $4.00 billion. The company has a 50-day moving average price of $173.90 and a 200-day moving average price of $171.12. Madison Square Garden has a 52 week low of $139.10 and a 52 week high of $188.80.

Madison Square Garden (NYSE:MSG) last posted its quarterly earnings data on Friday, August 19th. The company reported ($2.39) earnings per share for the quarter, missing the consensus estimate of ($1.00) by $1.39. The firm had revenue of $217.80 million for the quarter. Madison Square Garden had a negative return on equity of 4.58% and a negative net margin of 6.93%. Madison Square Garden’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share.

In other news, insider Kathleen Margaret Dolan bought 15,954 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was acquired at an average cost of $182.96 per share, with a total value of $2,918,943.84. Following the transaction, the insider now directly owns 1,568 shares of the company’s stock, valued at approximately $286,881.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 16.55% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC raised its stake in shares of Madison Square Garden by 10.4% in the first quarter. Lazard Asset Management LLC now owns 2,023,671 shares of the company’s stock worth $336,656,000 after buying an additional 190,711 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Madison Square Garden by 0.5% in the second quarter. Gamco Investors INC. ET AL now owns 930,735 shares of the company’s stock worth $160,561,000 after buying an additional 5,007 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Madison Square Garden by 0.3% in the second quarter. Gabelli Funds LLC now owns 537,800 shares of the company’s stock worth $92,776,000 after buying an additional 1,869 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Madison Square Garden by 17.7% in the second quarter. Dimensional Fund Advisors LP now owns 401,369 shares of the company’s stock worth $69,241,000 after buying an additional 60,272 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Madison Square Garden by 10.0% in the first quarter. State Street Corp now owns 259,136 shares of the company’s stock worth $43,108,000 after buying an additional 23,584 shares during the last quarter. 88.44% of the stock is owned by institutional investors and hedge funds.

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