Madison Square Garden Entertainment (NYSE:MSGE) Price Target Raised to $47.00

Madison Square Garden Entertainment (NYSE:MSGE) had its target price increased by JPMorgan Chase & Co. from $41.00 to $47.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Morgan Stanley lifted their price objective on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Madison Square Garden Entertainment currently has an average rating of “Moderate Buy” and an average target price of $45.50.

Madison Square Garden Entertainment Price Performance

Shares of MSGE stock traded up $2.08 during trading hours on Friday, reaching $48.59. The stock had a trading volume of 199,560 shares, compared to its average volume of 342,021. The stock’s fifty day simple moving average is $44.16 and its 200 day simple moving average is $40.08. Madison Square Garden Entertainment has a 12 month low of $28.29 and a 12 month high of $49.35. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 60.61. The firm has a market capitalization of $1.96 billion, a PE ratio of 69.58 and a beta of 0.48.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its quarterly earnings data 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 return on equity of 2,102.70% and a net margin of 3.65%.The firm had revenue of $158.26 million for the quarter, compared to analyst estimates of $156.62 million. During the same period in the prior year, the company earned ($0.40) EPS. The company’s revenue was up 14.1% on a year-over-year basis. On average, equities research analysts predict that Madison Square Garden Entertainment will post 1.04 EPS for the current year.

Institutional Inflows and Outflows

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

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.