Madison Square Garden Entertainment Corp. (NYSE:MSGE) Receives Consensus Rating of "Moderate Buy" from Brokerages
Madison Square Garden Entertainment Corp. (NYSE:MSGE) has received a "Moderate Buy" consensus rating from seven brokerages, with an average price target of $45.50. Analysts have varied ratings, with some upgrading their price objectives. The stock recently traded at $47.82, with a 52-week range of $28.29 to $49.76. Institutional investors have been active, with significant holdings in the company. The firm reported better-than-expected earnings, with a revenue increase of 14.1% year-over-year.
Madison Square Garden Entertainment Corp. (NYSE:MSGE - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $45.50.
Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Madison Square Garden Entertainment from $41.00 to $47.00 and gave the stock a "neutral" rating in a report on Friday, November 7th. Wall Street Zen raised shares of Madison Square Garden Entertainment from a "sell" rating to a "hold" rating in a report on Saturday, November 8th. The Goldman Sachs Group boosted their price objective on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Madison Square Garden Entertainment in a research note on Monday, November 17th. Finally, Morgan Stanley lifted their price target on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th.
Check Out Our Latest Analysis on Madison Square Garden Entertainment
Institutional Investors Weigh In On Madison Square Garden Entertainment
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new stake in shares of Madison Square Garden Entertainment during the 3rd quarter valued at $247,000. Boyar Asset Management Inc. increased its holdings in shares of Madison Square Garden Entertainment by 9.6% in the 3rd quarter. Boyar Asset Management Inc. now owns 50,026 shares of the company's stock worth $2,263,000 after purchasing an additional 4,368 shares in the last quarter. Sig Brokerage LP bought a new stake in Madison Square Garden Entertainment in the 3rd quarter worth about $2,677,000. Northern Right Capital Management L.P. raised its holdings in shares of Madison Square Garden Entertainment by 20.0% during the third quarter. Northern Right Capital Management L.P. now owns 475,942 shares of the company's stock valued at $21,532,000 after purchasing an additional 79,399 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Madison Square Garden Entertainment by 2,037.6% during the 3rd quarter. Millennium Management LLC now owns 589,096 shares of the company's stock valued at $26,651,000 after buying an additional 561,537 shares during the period. 96.86% of the stock is owned by hedge funds and other institutional investors.
Madison Square Garden Entertainment Trading Up 1.3%
MSGE opened at $47.82 on Monday. Madison Square Garden Entertainment has a fifty-two week low of $28.29 and a fifty-two week high of $49.76. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.48 and a quick ratio of 0.48. The company's 50-day moving average is $45.33 and its 200 day moving average is $41.06. The firm has a market capitalization of $1.93 billion, a PE ratio of 68.31 and a beta of 0.48.
Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.13. The company had revenue of $158.26 million during the quarter, compared to the consensus estimate of $156.62 million. Madison Square Garden Entertainment had a net margin of 3.65% and a negative return on equity of 310.15%. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.40) earnings per share. As a group, research analysts predict that Madison Square Garden Entertainment will post 1.04 earnings per share for the current fiscal year.
Madison Square Garden Entertainment Company Profile
(Get Free Report)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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