Brokerages Set Madison Square Garden Entertainment Corp. (NYSE:MSGE) PT at $64.33

Madison Square Garden Entertainment Corp. (NYSE:MSGE) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $64.3333.

A number of equities analysts have weighed in on the company. Weiss Ratings lowered Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Wall Street Zen cut Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Guggenheim upped their target price on Madison Square Garden Entertainment from $74.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, April 16th. BTIG Research restated a “buy” rating on shares of Madison Square Garden Entertainment in a report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on Madison Square Garden Entertainment from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, May 8th.

Madison Square Garden Entertainment Price Performance

Shares of Madison Square Garden Entertainment stock opened at $69.52 on Monday. The business has a 50 day simple moving average of $62.02 and a two-hundred day simple moving average of $57.73. Madison Square Garden Entertainment has a 12 month low of $35.31 and a 12 month high of $70.81. The stock has a market capitalization of $2.81 billion, a P/E ratio of 68.16 and a beta of 0.61. The company has a debt-to-equity ratio of 11.40, a current ratio of 0.72 and a quick ratio of 0.72.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its earnings results on Thursday, May 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Madison Square Garden Entertainment had a net margin of 4.81% and a return on equity of 4,795.27%. The firm had revenue of $246.26 million for the quarter, compared to analyst estimates of $242.99 million. During the same period in the previous year, the company earned $0.17 EPS. Madison Square Garden Entertainment’s revenue was up 1.5% compared to the same quarter last year. As a group, analysts predict that Madison Square Garden Entertainment will post 1.28 EPS for the current fiscal year.

Institutional Trading of Madison Square Garden Entertainment

Several large investors have recently added to or reduced their stakes in MSGE. Deutsche Bank AG increased its position in Madison Square Garden Entertainment by 0.6% in the 4th quarter. Deutsche Bank AG now owns 32,473 shares of the company’s stock valued at $1,750,000 after acquiring an additional 181 shares during the period. The Manufacturers Life Insurance Company increased its position in Madison Square Garden Entertainment by 1.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 17,519 shares of the company’s stock valued at $1,032,000 after acquiring an additional 212 shares during the period. CWM LLC increased its position in Madison Square Garden Entertainment by 15.1% in the 4th quarter. CWM LLC now owns 1,723 shares of the company’s stock valued at $93,000 after acquiring an additional 226 shares during the period. Orion Porfolio Solutions LLC increased its position in 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 valued at $906,000 after acquiring an additional 418 shares during the period. Finally, XTX Topco Ltd increased its position in Madison Square Garden Entertainment by 5.2% in the 4th quarter. XTX Topco Ltd now owns 8,681 shares of the company’s stock valued at $468,000 after acquiring an additional 427 shares during the period. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a premier live entertainment company focused on producing and hosting a wide range of events across North America. Established as a separate publicly traded entity in April 2020 through a spin-off from Madison Square Garden Company, MSGE owns and operates iconic venues such as Madison Square Garden in New York City, Radio City Music Hall, The Chicago Theatre and Sphere in Las Vegas. These facilities serve as flagship stages for concerts, sports events, family shows and cultural performances.

The company’s core business activities center on venue management, event promotion and production services.