Madison Square Garden Entertainment Corp. (NYSE:MSGE) Given Consensus Recommendation of "Moderate Buy" by Brokerages

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 an average recommendation of "Moderate Buy" by the five ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $43.00.

Several research firms have weighed in on MSGE. Wall Street Zen downgraded Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Morgan Stanley boosted their target price on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th.

Madison Square Garden Entertainment Price Performance

NYSE:MSGE opened at $41.43 on Wednesday. The business's 50-day simple moving average is $39.16 and its two-hundred day simple moving average is $36.23. Madison Square Garden Entertainment has a 52 week low of $28.29 and a 52 week high of $44.14. The stock has a market cap of $1.97 billion, a PE ratio of 54.51 and a beta of 0.44. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 60.61.

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 (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.03). The business had revenue of $154.14 million for 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 revenue for the quarter was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 EPS. As a group, analysts forecast that Madison Square Garden Entertainment will post 1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MSGE. Rhumbline Advisers lifted its holdings in shares of Madison Square Garden Entertainment by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 63,178 shares of the company's stock valued at $2,525,000 after acquiring an additional 272 shares during the last quarter. Garden State Investment Advisory Services LLC raised its position in Madison Square Garden Entertainment by 2.0% during the second quarter. Garden State Investment Advisory Services LLC now owns 15,902 shares of the company's stock valued at $636,000 after purchasing an additional 306 shares during the period. Pinnacle Associates Ltd. lifted its stake in shares of Madison Square Garden Entertainment by 3.2% in the 1st quarter. Pinnacle Associates Ltd. now owns 12,836 shares of the company's stock valued at $420,000 after purchasing an additional 398 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of Madison Square Garden Entertainment by 1.9% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 22,667 shares of the company's stock worth $906,000 after purchasing an additional 418 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Madison Square Garden Entertainment by 25.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,217 shares of the company's stock worth $89,000 after purchasing an additional 448 shares during the period. 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.

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