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

Madison Square Garden Sports (NYSE:MSGS) issued its quarterly earnings data on Friday. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.55, Briefing.com reports. Madison Square Garden Sports had a negative return on equity of 18.69% and a net margin of 5.72%. The business had revenue of $53.31 million during the quarter, compared to the consensus estimate of $43.71 million. During the same period in the previous year, the firm posted ($0.79) earnings per share. The business’s revenue was up 23.8% on a year-over-year basis.

Madison Square Garden Sports Trading Down 0.8 %

NYSE:MSGS traded down $1.71 during midday trading on Friday, hitting $220.99. 283,834 shares of the stock were exchanged, compared to its average volume of 114,702. The business has a 50-day moving average price of $211.81 and a two-hundred day moving average price of $198.08. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 90.94 and a beta of 0.93. Madison Square Garden Sports has a one year low of $166.26 and a one year high of $227.66.

Insider Activity

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of the company’s stock in a transaction dated 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 directly owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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.

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.