Madison Square Garden Sports (NYSE:MSGS) Announces Earnings Results

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.25), Zacks reports. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. The firm had revenue of $357.80 million during the quarter, compared to analyst estimates of $352.68 million. During the same quarter last year, the firm posted $0.59 EPS. The firm's revenue for the quarter was up 9.5% on a year-over-year basis.

Madison Square Garden Sports Trading Down 2.4 %

Madison Square Garden Sports stock traded down $5.03 during trading on Friday, hitting $205.35. 222,810 shares of the company were exchanged, compared to its average volume of 96,447. The business's 50 day moving average is $222.18 and its 200 day moving average is $214.88. Madison Square Garden Sports has a 52 week low of $178.35 and a 52 week high of $237.99. The company has a market capitalization of $4.92 billion, a P/E ratio of 70.57 and a beta of 0.91.

Analyst Upgrades and Downgrades

Separately, Macquarie boosted their price target on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th.

About Madison Square Garden Sports

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.