Susquehanna Raises Madison Square Garden Entertainment (NYSE:MSGE) Price Target to $80.00

Madison Square Garden Entertainment (NYSE:MSGE) had its price target boosted by equities research analysts at Susquehanna from $77.00 to $80.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price objective suggests a potential upside of 14.52% from the stock’s previous close.

Several other brokerages have also recently issued reports on MSGE. JPMorgan Chase & Co. increased their price target on shares of Madison Square Garden Entertainment from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Wall Street Zen cut shares of Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Guggenheim increased their target price on shares of Madison Square Garden Entertainment from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, BTIG Research reissued a “buy” rating on shares of Madison Square Garden Entertainment in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Madison Square Garden Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Madison Square Garden Entertainment Trading Down 1.0%

Shares of NYSE MSGE opened at $69.86 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 11.40. The stock has a market capitalization of $2.82 billion, a PE ratio of 68.22 and a beta of 0.61. Madison Square Garden Entertainment has a twelve month low of $35.31 and a twelve month high of $71.78. The stock has a fifty day simple moving average of $62.82 and a 200-day simple moving average of $58.27.

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

Hedge Funds Weigh In On Madison Square Garden Entertainment

Several hedge funds have recently made changes to their positions in MSGE. First Horizon Corp purchased a new stake in shares of Madison Square Garden Entertainment in the 4th quarter valued at about $37,000. Aster Capital Management DIFC Ltd purchased a new position in Madison Square Garden Entertainment during the 4th quarter worth approximately $45,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Madison Square Garden Entertainment during the fourth quarter worth approximately $47,000. CIBC Private Wealth Group LLC increased its position in Madison Square Garden Entertainment by 3,248.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,239 shares of the company’s stock worth $67,000 after buying an additional 1,202 shares during the period. Finally, State of Wyoming purchased a new stake in Madison Square Garden Entertainment in the second quarter valued at approximately $62,000. Hedge funds and other institutional investors own 96.86% of the company’s stock.

About Madison Square Garden Entertainment

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.