Revenue Update on Madison Square Garden Co(NASDAQ:MSG)

Madison Square Garden Co(NASDAQ:MSG) announced the earnings results for Fiscal Year 2017 and Q2. The results came in during Pre-Market on Feb 3, 2017. Company reported revenue of $445.150M. Analysts estimated a revenue of $440.130M. The revenues were 1.14% above the estimates. Earnings per share were $2.39. The reported EPS was above estimates by 18.32%. Analysts had estimated an EPS of $2.02.

In a different note, On Jan 30, 2017, Morgan Stanley said it Upgrades its rating on Madison Square Garden Co. The shares have been rated ‘Overweight’ by the firm.

Madison Square Garden Co (MSG) shares turned negative on Tuesdays trading session with the shares closing down -2.48 points or -1.40% at a volume of 1,34,050. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $179.245. The peak price level was also seen at $179.245 while the days lowest was $174.24. Finally the shares closed at $174.65. The 52-week high of the shares is $188.8 while the 52-week low is $139.1001. According to the latest information available, the market cap of the company is $4,185 M.

Several Insider Transactions has been reported to the SEC. On Nov 13, 2015, Vincent Tese (director) sold 2,500 shares at $174.22 per share price.Also, 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.

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