Equity Analyst Expects NHL Lockout Resolution (MSG)

December 20, 2012 9:56 AM EST
Get Alerts MSG Hot Sheet
Price: $169.68 +0.86%

Rating Summary:
    12 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade MSG Now!
Join SI Premium – FREE
Maxim Group research trimmed numbers on Madison Square Garden (NASDAQ: MSG), lowering 2Q13 Sports segment revenue due to the continued NHL lockout.

Analyst John Tinker said, “We are lowering our 2Q13 Sports segment revenue estimate to $110.8M (up 25% y/y), from $157.7M, as well as our EBITDA estimate to a loss of $20.9M, from $6.5M, due to the continued NHL lockout to December 30th.”

He continues to expect a resolution to be reached, with the season beginning in 3Q13 (calendar March Q). His previous estimates assumed a short season starting December 1st.

"MSG's Media segment should also be negatively affected in the quarter due to NHL lockout; however, we believe the benefit of the Knicks/NBA's ongoing season (compared to no games last year) and higher affiliate fees from Time Warner Cable (NYSE: TWC) should more than offset the losses from the NHL lockout," said Tinker.

Maxim Group has a Buy rating on Madison Square Garden (NASDAQ: MSG) with a price target of $52.00.

For an analyst ratings summary and ratings history on Madison Square Garden click here. For more ratings news on Madison Square Garden click here.

Shares of Madison Square Garden closed at $45.27 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, General News

Related Entities

Maxim Group


Fire Bettman!
Joe P on 2012-12-20 11:25:47
Mark as Spam | Reply to this comment

FIRE BETTMAN shirts and gifts at:


Bettman's gotta go!!!!

Add Your Comment