Madison Square Garden Entertainment Corp. (NYSE:MSGE) Receives $45.50 Consensus Target Price from Analysts

Madison Square Garden Entertainment Corp. (NYSE:MSGE) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $45.50.

Several brokerages have weighed in on MSGE. Morgan Stanley boosted their price objective on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 12th. Wall Street Zen upgraded shares of Madison Square Garden Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. increased their price objective on shares of Madison Square Garden Entertainment from $41.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, November 7th. The Goldman Sachs Group raised their price objective on shares of 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research report on Monday.

Madison Square Garden Entertainment Stock Performance

MSGE stock opened at $48.91 on Monday. The company has a 50 day moving average price of $45.56 and a 200 day moving average price of $41.28. Madison Square Garden Entertainment has a fifty-two week low of $28.29 and a fifty-two week high of $49.76. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $1.97 billion, a PE ratio of 69.87 and a beta of 0.48.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Thursday, November 6th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.13. Madison Square Garden Entertainment had a negative return on equity of 310.15% and a net margin of 3.65%.The company had revenue of $158.26 million during the quarter, compared to analysts’ expectations of $156.62 million. During the same period last year, the firm earned ($0.40) EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Analysts forecast that Madison Square Garden Entertainment will post 1.04 EPS for the current year.

Hedge Funds Weigh In On Madison Square Garden Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSGE. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Madison Square Garden Entertainment during the 1st quarter worth about $40,000. CWM LLC boosted its stake in Madison Square Garden Entertainment by 623.8% during the 2nd quarter. CWM LLC now owns 1,035 shares of the company’s stock worth $41,000 after acquiring an additional 892 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in Madison Square Garden Entertainment by 163.0% during the second quarter. Cullen Frost Bankers Inc. now owns 1,086 shares of the company’s stock valued at $43,000 after purchasing an additional 673 shares during the period. State of Alaska Department of Revenue bought a new stake in Madison Square Garden Entertainment in the third quarter valued at approximately $59,000. Finally, State of Wyoming bought a new stake in Madison Square Garden Entertainment in the second quarter valued at approximately $62,000. Institutional investors own 96.86% of the company’s stock.

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.