$0.63 Earnings Per Share Expected for Madison Square Garden Sports Corp. (NYSE:MSGS) This Quarter

Brokerages expect that Madison Square Garden Sports Corp. (NYSE:MSGS) will post earnings of $0.63 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Madison Square Garden Sports’ earnings. The highest EPS estimate is $0.91 and the lowest is $0.35. Madison Square Garden Sports posted earnings per share of ($1.68) during the same quarter last year, which would suggest a positive year over year growth rate of 137.5%. The business is expected to announce its next earnings results on Wednesday, February 2nd.

According to Zacks, analysts expect that Madison Square Garden Sports will report full year earnings of $0.67 per share for the current fiscal year, with EPS estimates ranging from $0.59 to $0.74. For the next year, analysts forecast that the company will post earnings of $1.58 per share, with EPS estimates ranging from $0.79 to $2.36. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Madison Square Garden Sports.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings results on Wednesday, November 10th. The company reported ($0.68) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.12) by $0.44. The business had revenue of $18.79 million during the quarter, compared to analyst estimates of $23.77 million. During the same period last year, the firm posted ($1.18) earnings per share.

A number of research analysts have issued reports on MSGS shares. JPMorgan Chase & Co. boosted their target price on shares of Madison Square Garden Sports from $190.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, November 1st. Morgan Stanley downgraded shares of Madison Square Garden Sports from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $230.00 to $200.00 in a research report on Wednesday, December 15th. Finally, Zacks Investment Research downgraded shares of Madison Square Garden Sports from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $210.20.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MSGS. Rockefeller Capital Management L.P. raised its holdings in shares of Madison Square Garden Sports by 67.3% during the second quarter. Rockefeller Capital Management L.P. now owns 368 shares of the company’s stock valued at $63,000 after acquiring an additional 148 shares during the period. First Horizon Advisors Inc. purchased a new position in Madison Square Garden Sports during the third quarter valued at approximately $70,000. Pinnacle Holdings LLC purchased a new position in Madison Square Garden Sports during the third quarter valued at approximately $78,000. Maverick Capital Ltd. purchased a new position in Madison Square Garden Sports during the third quarter valued at approximately $92,000. Finally, Alaethes Wealth LLC purchased a new position in Madison Square Garden Sports during the second quarter valued at approximately $100,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Madison Square Garden Sports stock opened at $167.40 on Friday. The firm has a 50-day moving average price of $174.95 and a two-hundred day moving average price of $175.87. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of -1,521.68 and a beta of 0.93. Madison Square Garden Sports has a 52-week low of $152.42 and a 52-week high of $207.09.

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 (NBA) and the New York Rangers (the Rangers) of the National Hockey League (NHL).

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Earnings History and Estimates for Madison Square Garden Sports (NYSE:MSGS)

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