Madison Square Garden Co (MSG) is Initiated by FBN Securities to Outperform, Price Target at $240.77

Madison Square Garden Co (MSG) was Initiated by FBN Securities to “Outperform” and the brokerage firm has set the Price Target at $240.77. FBN Securities advised their investors in a research report released on May 4, 2016.

Many Wall Street Analysts have commented on Madison Square Garden Co. Shares were Reiterated by Topeka Capital Markets on Feb 5, 2016 to “Buy” and Lowered the Price Target to $ 19 from a previous price target of $20 .

On the company’s financial health, Madison Square Garden Co reported $1.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.61 according to the earnings call on Feb 4, 2016. Analyst had a consensus of $1.13. The company had revenue of $410.80 million for the quarter, compared to analysts expectations of $412.78 million. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

Madison Square Garden Co opened for trading at $158.05 and hit $163.01 on the upside on Monday, eventually ending the session at $162.67, with a gain of 3.62% or 5.69 points. The heightened volatility saw the trading volume jump to 1,51,364 shares. Company has a market cap of $4,006 M.

In a different news, on Nov 13, 2015, Vincent Tese (director) sold 2,500 shares at $174.22 per share price. According to the SEC, on Sep 8, 2015, Wilton J. Jr. Hildenbrand (director) sold 2,944 shares at $71.93 per share price. On Aug 26, 2015, Richard D Parsons (director) sold 5,050 shares at $69.52 per share price, according to the Form-4 filing with the securities and exchange commission.

The Madison Square Garden Company formerly MSG Spinco Inc. is engaged in sports and entertainment business. The Company operates through two segments: MSG Sports and MSG Entertainment. MSG Sports segment includes sports business which owns and operates the sports franchises such as the New York Knicks (the Knicks) of the National Basketball Association (the NBA) and the New York Rangers (the Rangers) of the National Hockey League (the NHL). In addition MSG Sports promotes produces and presents an array of other live sporting events including professional boxing college basketball professional bull riding and tennis. MSG Entertainment includes entertainment business which presents or hosts live entertainment events including concerts family shows performing arts and special events. Those venues include The Garden The Theater at Madison Square Garden Radio City Music Hall and the Beacon Theatre. MSG Entertainment also creates produces and presents live productions.

Madison Square Garden Co

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