Madison Square Garden Entertainment Corp. (NYSE:MSGE) Receives Consensus Rating of “Moderate Buy” from Brokerages

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

A number of 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 company an “equal weight” rating in a research note on Tuesday, August 12th. The Goldman Sachs Group increased their price objective on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Wall Street Zen cut Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a research report on Wednesday, October 8th.

Institutional Trading of Madison Square Garden Entertainment

Large investors have recently made changes to their positions in the stock. KBC Group NV acquired a new stake in shares of Madison Square Garden Entertainment during the first quarter valued at $31,000. CWM LLC boosted its stake in Madison Square Garden Entertainment by 623.8% in the 2nd quarter. CWM LLC now owns 1,035 shares of the company’s stock worth $41,000 after buying an additional 892 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in Madison Square Garden Entertainment by 163.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,086 shares of the company’s stock worth $43,000 after buying an additional 673 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Madison Square Garden Entertainment in the 1st quarter worth about $40,000. Finally, State of Alaska Department of Revenue acquired a new stake in Madison Square Garden Entertainment in the 3rd quarter worth about $59,000. Institutional investors and hedge funds own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Performance

NYSE MSGE opened at $44.26 on Thursday. Madison Square Garden Entertainment has a 1-year low of $28.29 and a 1-year high of $48.09. The company has a market cap of $1.79 billion, a P/E ratio of 58.24 and a beta of 0.49. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a 50-day moving average of $43.79 and a two-hundred day moving average of $39.68.

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

About Madison Square Garden Entertainment

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.