Brokerages Set Madison Square Garden Entertainment Corp. (NYSE:MSGE) Price Target at $45.20

Madison Square Garden Entertainment Corp. (NYSE:MSGE) has received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $45.20.

Several analysts recently weighed in on the company. Wall Street Zen raised Madison Square Garden Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group raised their price objective on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Morgan Stanley increased their target price on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a research report on Wednesday.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Large investors have recently bought and sold shares of the company. KBC Group NV bought a new position in Madison Square Garden Entertainment in the first quarter valued at about $31,000. SG Americas Securities LLC bought a new position in Madison Square Garden Entertainment in the first quarter valued at about $556,000. Maverick Capital Ltd. raised its position in Madison Square Garden Entertainment by 119.7% in the first quarter. Maverick Capital Ltd. now owns 18,003 shares of the company’s stock valued at $589,000 after purchasing an additional 9,808 shares during the last quarter. Northern Trust Corp raised its position in Madison Square Garden Entertainment by 30.0% in the first quarter. Northern Trust Corp now owns 670,883 shares of the company’s stock valued at $21,965,000 after purchasing an additional 154,888 shares during the last quarter. Finally, Nuveen LLC bought a new position in Madison Square Garden Entertainment in the first quarter valued at about $5,055,000. 96.86% of the stock is currently owned by institutional investors.

Madison Square Garden Entertainment Stock Performance

NYSE:MSGE opened at $41.71 on Friday. The stock’s 50-day simple moving average is $41.66 and its 200 day simple moving average is $38.08. The firm has a market capitalization of $1.98 billion, a PE ratio of 54.88 and a beta of 0.49. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 60.61. Madison Square Garden Entertainment has a twelve month low of $28.29 and a twelve month high of $48.09.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.03). The business had revenue of $154.14 million during the quarter, compared to analyst estimates of $151.17 million. Madison Square Garden Entertainment had a net margin of 3.97% and a negative return on equity of 458.14%. The business’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same period last year, the business earned $1.41 earnings per share. On average, analysts anticipate that Madison Square Garden Entertainment will post 1.04 EPS for the current fiscal year.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in the provision of entertainment services. Its portfolio of venues includes The Garden, Radio City Music Hall, the Beacon Theatre, The Theater at Madison Square, and The Chicago Theatre. The company was founded in 1879 and is headquartered in New York, NY.