Analysts Set Madison Square Garden Entertainment Corp. (NYSE:MSGE) Price Target at $43.00

Key Points

• Madison Square Garden Entertainment Corp. has received a consensus rating of "Moderate Buy" from analysts, with an average 12-month price target of $43.00.
• Recent broker reports show mixed ratings, including a downgrade from a "hold" to "sell" by Wall Street Zen, while Goldman Sachs raised its target price from $36.00 to $41.00.
• The company's latest quarterly earnings report revealed a loss of ($0.50) EPS, missing expectations, and a revenue decline of 17.2% compared to the same quarter last year.

Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Get Free Report) have received an average rating of "Moderate Buy" from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $43.00.

MSGE has been the topic of several research reports. Susquehanna initiated coverage on Madison Square Garden Entertainment in a research note on Monday, April 28th. They set a "positive" rating and a $39.00 price target on the stock. The Goldman Sachs Group raised their price target on Madison Square Garden Entertainment from $36.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Morgan Stanley raised their price target 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. Finally, Wall Street Zen lowered Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Several institutional investors have recently made changes to their positions in the company. State of Wyoming purchased a new position in shares of Madison Square Garden Entertainment during the second quarter valued at $62,000. Caxton Associates LLP bought a new stake in Madison Square Garden Entertainment during the second quarter valued at about $294,000. Tower Research Capital LLC TRC boosted its position in Madison Square Garden Entertainment by 84.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,512 shares of the company's stock valued at $380,000 after purchasing an additional 4,363 shares in the last quarter. Captrust Financial Advisors bought a new stake in Madison Square Garden Entertainment during the second quarter valued at about $235,000. Finally, Sandler Capital Management bought a new stake in Madison Square Garden Entertainment during the second quarter valued at about $1,850,000. Hedge funds and other institutional investors own 96.86% of the company's stock.

Madison Square Garden Entertainment Trading Up 0.1%

MSGE stock traded up $0.03 during midday trading on Friday, reaching $37.61. The company's stock had a trading volume of 316,406 shares, compared to its average volume of 325,617. The company has a debt-to-equity ratio of 60.61, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a fifty day simple moving average of $38.74 and a two-hundred day simple moving average of $35.93. Madison Square Garden Entertainment has a 1 year low of $28.29 and a 1 year high of $44.14. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 49.49 and a beta of 0.44.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.03). Madison Square Garden Entertainment had a negative return on equity of 458.14% and a net margin of 3.97%.The business had revenue of $154.14 million during the quarter, compared to analysts' expectations of $151.17 million. During the same quarter in the previous year, the business earned $1.41 EPS. The business's revenue for the quarter was down 17.2% 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.

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.