Madison Square Garden
The 10-second takeaway
For the quarter ended Sep. 30 (Q1), Madison Square Garden met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share contracted.
Gross margins increased, operating margins grew, net margins dropped.
Madison Square Garden notched revenue of $204.2 million. The seven analysts polled by S&P Capital IQ anticipated revenue of $202.5 million on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $177.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.26. The seven earnings estimates compiled by S&P Capital IQ anticipated $0.21 per share. GAAP EPS of $0.26 for Q1 were 7.1% lower than the prior-year quarter's $0.28 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 64.4%, 460 basis points better than the prior-year quarter. Operating margin was 19.7%, 490 basis points better than the prior-year quarter. Net margin was 10.1%, 190 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $467.0 million. On the bottom line, the average EPS estimate is $0.58.
Next year's average estimate for revenue is $1.37 billion. The average EPS estimate is $1.39.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 100 members out of 114 rating the stock outperform, and 14 members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 20 give Madison Square Garden a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Madison Square Garden is outperform, with an average price target of $43.86.
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