Madison Square Garden Entertainment (NYSE:MSGE) Stock Price Expected to Rise, Susquehanna Analyst Says

Madison Square Garden Entertainment (NYSE:MSGE) had its price objective boosted by stock analysts at Susquehanna from $92.00 to $93.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna‘s target price suggests a potential upside of 20.35% from the company’s current price.

MSGE has been the subject of several other reports. Wall Street Zen lowered Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Zacks Research lowered shares of Madison Square Garden Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Guggenheim raised their price objective on Madison Square Garden Entertainment from $82.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Piper Sandler began coverage on shares of Madison Square Garden Entertainment in a research note on Thursday, August 20th. They issued a “neutral” rating and a $86.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a report on Thursday, October 29th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Madison Square Garden Entertainment currently has a consensus rating of “Hold” and an average target price of $90.50.

Madison Square Garden Entertainment Price Performance

NYSE:MSGE traded up $1.87 during mid-day trading on Thursday, reaching $77.27. 245,883 shares of the stock were exchanged, compared to its average volume of 395,790. The business has a fifty day moving average price of $79.11 and a 200 day moving average price of $70.89. The firm has a market capitalization of $3.13 billion, a PE ratio of 38.07 and a beta of 0.56. Madison Square Garden Entertainment has a 1-year low of $44.29 and a 1-year high of $90.41. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 11.80.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.24. The company had revenue of $217.13 million during the quarter, compared to the consensus estimate of $208.11 million. Madison Square Garden Entertainment had a net margin of 6.24% and a return on equity of 480.83%. Madison Square Garden Entertainment’s revenue was up 37.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.46) EPS. Research analysts expect that Madison Square Garden Entertainment will post 2.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Hedge funds have recently bought and sold shares of the business. Nykredit A S acquired a new stake in shares of Madison Square Garden Entertainment in the second quarter worth about $46,000. Putney Financial Group LLC bought a new stake in shares of Madison Square Garden Entertainment during the 3rd quarter worth about $69,000. GK Wealth Management LLC bought a new stake in shares of Madison Square Garden Entertainment during the 3rd quarter worth about $73,000. TD Waterhouse Canada Inc. increased its holdings in shares of Madison Square Garden Entertainment by 957.7% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,174 shares of the company’s stock valued at $94,000 after acquiring an additional 1,063 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in Madison Square Garden Entertainment by 840.0% in the 3rd quarter. Sterling Capital Management LLC now owns 1,316 shares of the company’s stock worth $105,000 after purchasing an additional 1,176 shares during the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a live entertainment company that owns, operates and manages prominent entertainment venues and produces live events. Its portfolio includes Madison Square Garden, Radio City Music Hall, the Beacon Theatre and The Chicago Theatre, as well as the Hulu Theater at Madison Square Garden.

The company presents and promotes concerts, family entertainment, comedy shows, sporting events and other special events. It also produces the annual Christmas Spectacular Starring the Radio City Rockettes and supports a range of entertainment experiences through its venue operations, booking activities and event-related services.

Madison Square Garden Entertainment primarily serves audiences in the United States, with a concentration in New York City and Chicago.