Madison Square Garden Sports (NYSE:MSGS) Announces Quarterly Earnings Results, Beats Estimates By $0.55 EPS

Madison Square Garden Sports (NYSE:MSGS) released its quarterly earnings results on Friday. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.55, Briefing.com reports. The firm had revenue of $53.31 million during the quarter, compared to analysts’ expectations of $43.71 million. Madison Square Garden Sports had a negative return on equity of 18.69% and a net margin of 5.72%. Madison Square Garden Sports’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.79) EPS.

Madison Square Garden Sports Stock Performance

Shares of NYSE MSGS opened at $220.99 on Friday. Madison Square Garden Sports has a 1 year low of $166.26 and a 1 year high of $227.66. The stock’s 50-day simple moving average is $211.81 and its 200-day simple moving average is $198.08. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 90.94 and a beta of 0.93.

Insider Activity at Madison Square Garden Sports

In related news, CEO James Lawrence Dolan sold 629 shares of Madison Square Garden Sports stock in a transaction on Monday, August 26th. The shares were sold at an average price of $209.30, for a total value of $131,649.70. Following the completion of the sale, the chief executive officer now owns 10,192 shares in the company, valued at approximately $2,133,185.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 22.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Macquarie decreased their target price on shares of Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating for the company in a research note on Friday, August 16th.

Madison Square Garden Sports Company Profile

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.