MSG Knickerbockers (NYSE:MSGK) Price Target Cut to $375.00 by Analysts at Morgan Stanley

by · The Markets Daily

MSG Knickerbockers (NYSE:MSGK – Get Free Report) had its price objective dropped by equities researchers at Morgan Stanley from $450.00 to $375.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley‘s price objective indicates a potential upside of 19.13% from the company’s current price.

Several other brokerages have also recently commented on MSGK. Weiss Ratings assumed coverage on shares of MSG Knickerbockers in a research note on Wednesday, October 28th. They issued a “hold (c)” rating for the company. Zacks Research lowered shares of MSG Knickerbockers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 27th. Wolfe Research raised shares of MSG Knickerbockers from a “peer perform” rating to an “outperform” rating in a report on Wednesday, November 4th. Finally, Guggenheim reduced their price target on shares of MSG Knickerbockers from $584.00 to $445.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $410.00.

Read Our Latest Analysis on MSG Knickerbockers

MSG Knickerbockers Price Performance

Shares of MSG Knickerbockers stock traded down $3.86 during trading on Tuesday, reaching $314.78. The company’s stock had a trading volume of 34,001 shares, compared to its average volume of 262,955. MSG Knickerbockers has a 12-month low of $210.90 and a 12-month high of $438.93. The company has a market cap of $7.58 billion, a PE ratio of -507.65 and a beta of 0.63.

MSG Knickerbockers (NYSE:MSGK – Get Free Report) last released its quarterly earnings data on Friday, November 6th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.18) by ($0.11). The business had revenue of $45.49 million during the quarter, compared to analysts’ expectations of $39.78 million. MSG Knickerbockers had a negative return on equity of 3.47% and a net margin of 0.67%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities research analysts anticipate that MSG Knickerbockers will post -1.13 EPS for the current fiscal year.

MSG Knickerbockers Company Profile

(Get Free Report)

MSG Knickerbockers, Inc. is the corporate entity associated with the New York Knicks, the National Basketball Association (NBA) franchise based at Madison Square Garden in New York City. The organization’s primary activities include operating and managing the professional basketball team, organizing games and related events, and developing commercial opportunities connected with the Knicks brand. The Knicks generate business through ticket sales, premium seating, sponsorships, media and broadcasting arrangements, merchandising, licensing, and other fan-focused products and services.

See Also