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

Key Points

• Madison Square Garden Entertainment Corp. has received a consensus recommendation of "Moderate Buy" from five brokerages, with one hold rating and four buy ratings.
• The average 12-month price target for the stock is $43.00, with recent upgrades and downgrades reflecting varying analyst perspectives on its performance.
• In its latest earnings report, the company missed EPS estimates, reporting ($0.50) EPS, while revenue of $154.14 million was above analysts' expectations but down 17.2% year-over-year.

Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $43.00.

MSGE has been the subject of a number of analyst reports. Wall Street Zen cut Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Morgan Stanley increased their target price on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th.

Madison Square Garden Entertainment Stock Performance

MSGE traded down $0.18 during midday trading on Wednesday, reaching $44.09. The company had a trading volume of 52,125 shares, compared to its average volume of 339,634. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 60.61. The business has a 50-day moving average of $39.45 and a two-hundred day moving average of $36.43. The company has a market cap of $2.09 billion, a P/E ratio of 58.03 and a beta of 0.44. Madison Square Garden Entertainment has a 1 year low of $28.29 and a 1 year high of $44.51.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations 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 quarter in the previous year, the company earned $1.41 EPS. As a group, equities research analysts predict that Madison Square Garden Entertainment will post 1.04 earnings per share for the current fiscal year.

Institutional Trading of Madison Square Garden Entertainment

Several institutional investors have recently made changes to their positions in the business. Ariel Investments LLC grew its position in shares of Madison Square Garden Entertainment by 1.6% during the second quarter. Ariel Investments LLC now owns 7,896,008 shares of the company's stock worth $315,603,000 after purchasing an additional 120,635 shares in the last quarter. Jericho Capital Asset Management L.P. grew its position in shares of Madison Square Garden Entertainment by 5.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,885,724 shares of the company's stock worth $94,479,000 after purchasing an additional 152,000 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Madison Square Garden Entertainment by 14.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 982,405 shares of the company's stock valued at $32,164,000 after buying an additional 127,700 shares in the last quarter. Dendur Capital LP grew its holdings in Madison Square Garden Entertainment by 60.1% during the 2nd quarter. Dendur Capital LP now owns 925,500 shares of the company's stock valued at $36,992,000 after buying an additional 347,500 shares in the last quarter. Finally, Systematic Financial Management LP grew its holdings in Madison Square Garden Entertainment by 0.4% during the 1st quarter. Systematic Financial Management LP now owns 923,407 shares of the company's stock valued at $30,232,000 after buying an additional 3,930 shares in the last quarter. Hedge funds and other institutional investors own 96.86% of the company's stock.

Madison Square Garden Entertainment Company Profile

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.