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

Madison Square Garden Sports (NYSE:MSGS) released its earnings results on Friday. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55, Briefing.com reports. The company 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%. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.79) EPS.

Madison Square Garden Sports Price Performance

Shares of NYSE MSGS traded down $1.71 during mid-day trading on Friday, reaching $220.99. The company’s stock had a trading volume of 283,834 shares, compared to its average volume of 114,702. The firm has a market capitalization of $5.29 billion, a PE ratio of 90.94 and a beta of 0.93. The stock has a fifty day moving average of $211.81 and a two-hundred day moving average of $198.08. Madison Square Garden Sports has a 52 week low of $166.26 and a 52 week high of $227.66.

Wall Street Analyst Weigh In

Separately, Macquarie decreased their price target on 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.

Insider Transactions at Madison Square Garden Sports

In related news, CEO James Lawrence Dolan sold 629 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $209.30, for a total value of $131,649.70. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.10% of the company’s stock.

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.