|Bid||322.39 x 900|
|Ask||323.26 x 900|
|Day's Range||322.27 - 323.04|
|52 Week Range||205.22 - 330.00|
|PE Ratio (TTM)||73.70|
|Earnings Date||Aug 15, 2018 - Aug 20, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||325.27|
The Madison Square Garden Company (MSG) announced today that in honor of Billy Joel’s unprecedented achievement of 100 lifetime performances at The World’s Most Famous Arena, Joel’s piano will be displayed at The Garden. The piano will be on display beginning today outside of Chase Square in front of Madison Square Garden. Governor Andrew M. Cuomo has also officially proclaimed July 18, 2018 as “Billy Joel Day” in the State of New York in honor of Joel’s extraordinary history of leadership and contributions to the music industry and New York State.
Madison Square Garden (NYSE:MSG) stock jumped more than 10% last week after the company announced that it would divide its sports and entertainment segments into two distinct entities. The company, of course, is named for the iconic New York arena where the Knicks and Rangers, both owned by MSG, make their home. The firm’s board of directors is now exploring methods of creating a separate company for its sports businesses, including the Knicks and Rangers.
Madison Square Garden Co (NYSE: MSG ) announced June 27 it was exploring a spinoff of its sports business from its live entertainment segment to create two publicly traded companies. The consideration ...
While major partnerships & stellar performance of the entertainment business are positives for Madison Square (MSG), competitive challenges faced by the sports business segment are a cause of concern.
The "Halftime Report" traders and CNBC contributor Michael Farr give their trades on the day's biggest movers. HPM Partners' Jim Lebenthal sold Madison Square Garden Company. Traders Steve Weiss and Pete Najarian believe Chipotle is overvalued.
Things are finally hitting the fan for Walgreens . It was one one thing when reports hint that tech giant Amazon is looking to get into healthcare. It was another when Amazon's founder, Jeff Bezos, says he's teaming up with arguably the most successful investor of all time in Warren Buffett and one of the brightest minds in finance in JPMorgan's Jamie Dimon to tackle healthcare.
Madison Square Garden’s move yesterday to explore a separation of its sports teams, principally the New York Knicks and New York Rangers, from its live entertainment assets, led by the Madison Square Garden arena in Manhattan, is playing well with investors. After the gain, the shares (MSG) may have limited upside given that they’re up more than 40% this year and reflect a lofty implied valuation for the Knicks of around $3.6 billion. Barron’s wrote favorably on the company two years ago (“MSG, Trophy Properties for 35% Off,” July 16, 2016) when the shares traded around $175.
Madison Square Garden Co’s (NYSE: MSG) large collection of entertainment holdings is underappreciated by investors, according to Jefferies. The company’s potential separation of its sports and other entertainment businesses is expected to be the catalyst that reduces the stock’s discount to fair value, Janedis said in a note.
A possible tax-free spinoff would create two separately traded public companies to unlock value for the businesses, MSG said on Wednesday. "This proposed transaction would provide each company with enhanced strategic flexibility, its own defined business focus and clear investment characteristics," said Chief Executive Officer James Dolan, who is expected to be the chairman and CEO of both the companies. The sports entity will house the New York Knicks and New York Rangers professional sports franchises, while the live entertainment company will include all owned concert-hosting venues such as New York's Madison Square Garden and Radio City Music Hall as well as nightclubs owned by the TAO Group.
Walgreens – the newest Dow component – reported adjusted quarterly profit of $1.53 per share, 5 cents a share above estimates. Revenue beat estimates, as well, and the drugstore operator also authorized a $10 billion share repurchase program and raised its quarterly dividend by 4 cents a share to 44 cents per share. Accenture ACN – The consulting firm beat estimates by 7 cents a share, with adjusted quarterly profit of $1.79 per share.
MSG may divide assets into two categories: sports — which includes the New York Knicks and the New York Rangers — and entertainment venues such as Radio City Music Hall.
Co. plans to explore separating its sports business, which includes the New York Knicks and New York Rangers, from its concert-hosting and entertainment-venue operations. The company said Wednesday it has hired advisers to help it study a potential spinoff of the sports business, but noted no timetable has been set for its board to make a decision.
Madison Square Garden is exploring spin offs of the New York Knicks and New York Rangers teams #tictocnews https://bit.ly/2N4oXIn (Source: Bloomberg)
Check out the companies making headlines after the bell: Shares of Pier 1 Imports PIR plummeted more than 15 percent in extended-hours trading after the retailer reported weak sales. The popular home decor company saw same-store sales drop 8.
Madison Square Garden Co. is looking to spin off its sports franchises, including the New York Knicks and New York Rangers, a bet that it can wring more value from the iconic teams if they’re an independent business. Shareholders would receive a two-thirds economic interest in the Knicks and Rangers, as well as the New York Liberty, a women’s basketball team that the company has been trying to sell. The live-events company would keep famous venues such as Madison Square Garden and Radio City Music Hall, as well as a hospitality group, a music festival producer and about $1 billion in cash.
Madison Square Garden Co. is looking to spin off its pro-sports franchises, including the New York Knicks and New York Rangers, a bet that it can wring more value from the iconic teams if they’re an independent business. Shareholders would receive a two-thirds economic interest in the Knicks and Rangers, as well as the New York Liberty, a women’s professional basketball team that the company has been trying to sell. The announcement also earned a ratings upgrade from Jefferies LLC analyst John Janedis, who is valuing the Knicks at $3.7 billion and the Rangers at $1.6 billion.
The Madison Square Garden Company announced on Wednesday it would explore a possible spinoff to create a separate, public company for its sports franchises, including the New York Knicks and New York Rangers. The new entity will be entirely sports focused, "driven by the strong financial performance of the storied Knicks and Rangers franchises," whereas the existing one will focus purely on entertainment.
The Madison Square Garden Company (MSG) today announced that its board of directors has authorized the Company’s management to explore a possible spin-off that would create a separately-traded public company comprised of its sports businesses, including the New York Knicks and New York Rangers professional sports franchises. If the Company proceeds with the spin-off, it would be structured as a tax-free transaction to all MSG shareholders. Upon completion of the contemplated separation, record holders of MSG common stock would receive a pro-rata distribution, expected to be equivalent, in aggregate, to an approximately two-thirds economic interest in the pure-play sports company.
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World Wrestling Entertainment reportedly intervened to prevent a Ring of Honor from taking place at Madison Square Garden.
Ring of Honor Wrestling Inc., a promotion owned by Sinclair Broadcast Group, had touted plans for a fight card at Madison Square Garden. MSG is considered a "home arena" for WWE, the popular promotion run by Vince McMahon. Per an interview with PWInsider: This would have been Ring of Honor's first show in the storied Manhattan arena, since the promotion traditionally draws a fraction of the audience that WWE is known for at live events.