Zacks Research Upgrades MSG Knickerbockers (NYSE:MSGK) to Hold

MSG Knickerbockers (NYSE:MSGK) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday, Zacks reports.

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

MSG Knickerbockers Trading Down 0.3%

MSGK traded down $0.98 on Thursday, hitting $313.94. The company had a trading volume of 267,038 shares, compared to its average volume of 359,870. MSG Knickerbockers has a 12-month low of $210.90 and a 12-month high of $438.93. The firm has a market cap of $7.56 billion, a P/E ratio of -506.35 and a beta of 0.63.

MSG Knickerbockers (NYSE:MSGK) last announced its earnings results on Friday, November 6th. The company reported ($1.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.11). The company 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 negative net margin of 1.26%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, research analysts forecast that MSG Knickerbockers will post 0.27 earnings per share for the current fiscal year.

About MSG Knickerbockers

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.