Q3 2024 Earnings Forecast for Madison Square Garden Sports Corp. (NYSE:MSGS) Issued By Seaport Res Ptn

Madison Square Garden Sports Corp. (NYSE:MSGSFree Report) – Equities researchers at Seaport Res Ptn reduced their Q3 2024 EPS estimates for shares of Madison Square Garden Sports in a research report issued on Tuesday, February 6th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will post earnings per share of $3.16 for the quarter, down from their prior forecast of $4.12. The consensus estimate for Madison Square Garden Sports’ current full-year earnings is $1.89 per share. Seaport Res Ptn also issued estimates for Madison Square Garden Sports’ Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at $2.70 EPS and FY2025 earnings at $2.56 EPS.

Madison Square Garden Sports (NYSE:MSGSGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.37 by $0.22. The company had revenue of $326.90 million during the quarter, compared to analyst estimates of $325.86 million. Madison Square Garden Sports had a negative return on equity of 11.27% and a net margin of 4.38%. The firm’s revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the business posted $0.84 earnings per share.

Madison Square Garden Sports Stock Down 1.8 %

Shares of MSGS opened at $191.17 on Friday. Madison Square Garden Sports has a 52-week low of $164.79 and a 52-week high of $215.79. The company has a market cap of $4.57 billion, a PE ratio of 120.23 and a beta of 0.96. The business has a fifty day moving average of $180.59 and a 200 day moving average of $180.31.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. West Tower Group LLC purchased a new position in Madison Square Garden Sports in the 2nd quarter worth about $27,000. Tower Research Capital LLC TRC increased its position in shares of Madison Square Garden Sports by 738.1% during the first quarter. Tower Research Capital LLC TRC now owns 176 shares of the company’s stock worth $34,000 after acquiring an additional 155 shares during the period. State of Wyoming bought a new stake in shares of Madison Square Garden Sports during the fourth quarter valued at approximately $34,000. Harbour Investments Inc. boosted its holdings in shares of Madison Square Garden Sports by 42.9% in the first quarter. Harbour Investments Inc. now owns 233 shares of the company’s stock valued at $45,000 after purchasing an additional 70 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Madison Square Garden Sports in the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 73.51% of the company’s stock.

Madison Square Garden Sports Company Profile

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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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.

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