Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Free Report) have earned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $43.00.
A number of research firms recently weighed in on MSGE. Morgan Stanley raised their price target on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th.
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Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. KBC Group NV bought a new position in Madison Square Garden Entertainment during the 1st quarter valued at $31,000. SG Americas Securities LLC bought a new position in Madison Square Garden Entertainment during the 1st quarter valued at $556,000. Maverick Capital Ltd. boosted its stake in Madison Square Garden Entertainment by 119.7% during the 1st quarter. Maverick Capital Ltd. now owns 18,003 shares of the company’s stock valued at $589,000 after acquiring an additional 9,808 shares during the last quarter. Bank of America Corp DE boosted its stake in Madison Square Garden Entertainment by 1.5% during the 4th quarter. Bank of America Corp DE now owns 585,638 shares of the company’s stock valued at $20,849,000 after acquiring an additional 8,592 shares during the last quarter. Finally, Long Pond Capital LP bought a new position in Madison Square Garden Entertainment during the 1st quarter valued at $13,630,000. 96.86% of the stock is currently owned by institutional investors.
Madison Square Garden Entertainment Price Performance
MSGE opened at $44.19 on Wednesday. The company has a fifty day simple moving average of $39.45 and a 200 day simple moving average of $36.43. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 58.15 and a beta of 0.44. Madison Square Garden Entertainment has a twelve month low of $28.29 and a twelve month high of $44.39. The company has a current ratio of 0.47, a quick 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 quarterly earnings results on Wednesday, August 13th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.03). The firm had revenue of $154.14 million for the quarter, compared to analyst estimates of $151.17 million. Madison Square Garden Entertainment had a net margin of 3.97% and a negative return on equity of 458.14%. Madison Square Garden Entertainment’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 earnings per share. Equities research analysts expect that Madison Square Garden Entertainment will post 1.04 EPS 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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