Madison Square Garden Entertainment Corp. (MSGE) – What Are Researchers Thinking About This Stock?

Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $90.50.

MSGE has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Madison Square Garden Entertainment from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday. Piper Sandler initiated 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 objective for the company. Guggenheim upped their price objective on shares of Madison Square Garden Entertainment from $82.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Susquehanna increased their target price on shares of Madison Square Garden Entertainment from $92.00 to $93.00 and gave the stock a “positive” rating in a research report on Thursday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a report on Thursday, October 29th.

Institutional Trading of Madison Square Garden Entertainment

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in shares of Madison Square Garden Entertainment by 19.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 89,347 shares of the company’s stock valued at $7,158,000 after acquiring an additional 14,324 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Madison Square Garden Entertainment by 4.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,655 shares of the company’s stock worth $453,000 after purchasing an additional 227 shares during the last quarter. Ethic Inc. acquired a new stake in Madison Square Garden Entertainment in the 3rd quarter worth approximately $223,000. Providence First Trust Co acquired a new stake in Madison Square Garden Entertainment in the 3rd quarter worth approximately $308,000. Finally, Putney Financial Group LLC bought a new stake in Madison Square Garden Entertainment during the third quarter worth approximately $69,000. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Trading Up 0.3%

NYSE:MSGE opened at $77.27 on Monday. The company has a market capitalization of $3.13 billion, a P/E ratio of 38.07 and a beta of 0.56. The stock’s 50 day moving average price is $79.11 and its 200 day moving average price is $70.89. The company has a debt-to-equity ratio of 44.74, a quick ratio of 0.62 and a current ratio of 0.62. Madison Square Garden Entertainment has a 52 week low of $44.29 and a 52 week high of $90.41.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its earnings results on Wednesday, November 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.24. The firm had revenue of $217.13 million during the quarter, compared to analysts’ expectations of $208.11 million. Madison Square Garden Entertainment had a net margin of 8.64% and a return on equity of 303.42%. The company’s revenue was up 37.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.46) earnings per share. On average, research analysts forecast that Madison Square Garden Entertainment will post 2.58 EPS for the current fiscal year.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. is a live entertainment company that owns and operates venues and produces live events. Its venues include Madison Square Garden, Radio City Music Hall and the Beacon Theatre in New York City, as well as The Chicago Theatre.

The company’s activities include hosting concerts, comedy shows, family attractions and other events. It also produces the annual Christmas Spectacular Starring the Radio City Rockettes and related live entertainment experiences.

Madison Square Garden Entertainment became a standalone publicly traded company in 2020 after separating from Madison Square Garden Company.