Madison Square Garden Entertainment (NYSE:MSGE) Price Target Raised to $93.00

Madison Square Garden Entertainment (NYSE:MSGE) had its target price hoisted by analysts at Susquehanna from $92.00 to $93.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna‘s price target suggests a potential upside of 17.33% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on MSGE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research note on Thursday, October 29th. JPMorgan Chase & Co. boosted their target price on Madison Square Garden Entertainment from $75.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Zacks Research cut Madison Square Garden Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Bank of America increased their price target on shares of Madison Square Garden Entertainment from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Finally, Piper Sandler began coverage on shares of Madison Square Garden Entertainment in a research report on Thursday, August 20th. They issued a “neutral” rating and a $86.00 target price for the company. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Madison Square Garden Entertainment presently has a consensus rating of “Hold” and an average target price of $90.38.

Madison Square Garden Entertainment Price Performance

MSGE stock opened at $79.27 on Thursday. Madison Square Garden Entertainment has a one year low of $43.33 and a one year high of $90.41. The firm has a 50 day simple moving average of $79.20 and a two-hundred day simple moving average of $70.72. The stock has a market cap of $3.22 billion, a PE ratio of 57.44 and a beta of 0.56. The company has a debt-to-equity ratio of 11.80, a current ratio of 0.70 and a quick ratio of 0.70.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Wednesday, November 4th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.24. Madison Square Garden Entertainment had a return on equity of 480.83% and a net margin of 6.24%. The business had revenue of $217.13 million for the quarter, compared to analysts’ expectations of $208.11 million. During the same quarter in the prior year, the firm earned ($0.46) earnings per share. The firm’s revenue was up 37.2% on a year-over-year basis. On average, analysts predict that Madison Square Garden Entertainment will post 2.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Madison Square Garden Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in Madison Square Garden Entertainment by 42.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,229,680 shares of the company’s stock valued at $98,510,000 after purchasing an additional 366,218 shares during the period. Congress Asset Management Co. bought a new stake in shares of Madison Square Garden Entertainment in the 3rd quarter worth about $24,280,000. Renaissance Technologies LLC bought a new stake in Madison Square Garden Entertainment during the first quarter worth approximately $11,181,000. Bank of New York Mellon Corp bought a new position in shares of Madison Square Garden Entertainment during the 2nd quarter valued at approximately $9,497,000. Finally, First Trust Advisors LP boosted its position in shares of Madison Square Garden Entertainment by 130.2% during the first quarter. First Trust Advisors LP now owns 131,119 shares of the company’s stock valued at $7,724,000 after buying an additional 74,159 shares during the period. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment News Roundup

Here are the key news stories impacting Madison Square Garden Entertainment this week:

• Positive Sentiment: Fiscal Q1 revenue rose 37.2% year over year to $217.1 million, exceeding analyst expectations of about $208.1 million. MSGE earned $0.19 per share, versus consensus estimates for a loss, and a loss of $0.46 per share a year earlier. Company results
• Positive Sentiment: The quarter included a record number of concerts at Madison Square Garden Arena. Coverage linked Harry Styles’ performances to the revenue surge, suggesting strong event demand helped drive results. Harry Styles and MSGE revenue
• Positive Sentiment: Management repurchased $25 million of Class A shares during the quarter, returning capital to shareholders. Long-term investor takeaways
• Positive Sentiment: MSGE expects more than 1.2 million guests for its Christmas Spectacular and plans 231 shows in fiscal 2027, providing a significant slate of upcoming events. Christmas Spectacular plans
• Negative Sentiment: New York City Mayor Zohran Mamdani criticized the use of surveillance technology at Madison Square Garden. The report does not cite an immediate financial impact, but the issue could bring reputational or political scrutiny. Surveillance technology criticism

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.