MSG Knickerbockers (NYSE:MSGK) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of MSG Knickerbockers (NYSE:MSGK) from a strong sell rating to a hold rating in a report released on Thursday morning,Zacks reports.

Several other research analysts have also recently weighed in on the company. Weiss Ratings assumed coverage on MSG Knickerbockers in a research note on Wednesday, October 28th. They set a “hold (c)” rating for the company. Wolfe Research upgraded shares of MSG Knickerbockers from a “peer perform” rating to an “outperform” rating in a research report on Wednesday, November 4th. Guggenheim cut their price target on shares of MSG Knickerbockers from $584.00 to $445.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Morgan Stanley cut their price target on shares of MSG Knickerbockers from $450.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, November 10th. Finally, Wall Street Zen lowered shares of MSG Knickerbockers from a “hold” rating to a “strong sell” rating in a research report on Saturday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $410.00.

MSG Knickerbockers Price Performance

NYSE:MSGK traded down $0.98 during midday trading on Thursday, hitting $313.94. 267,038 shares of the stock were exchanged, compared to its average volume of 359,870. MSG Knickerbockers has a one year low of $210.90 and a one year high of $438.93. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of -506.35 and a beta of 0.63.

MSG Knickerbockers (NYSE:MSGK) last issued its quarterly earnings results on Friday, November 6th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.11). MSG Knickerbockers had a negative net margin of 1.26% and a negative return on equity of 3.47%. The firm had revenue of $45.49 million for the quarter, compared to the consensus estimate of $39.78 million. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. On average, sell-side analysts expect that MSG Knickerbockers will post 0.27 EPS for the current year.

MSG Knickerbockers Company Profile

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.