Madison Square Garden Entertainment Corp. (NYSE:MSGE) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $56.6667.

Several equities research analysts have commented on MSGE shares. Guggenheim boosted their target price on shares of Madison Square Garden Entertainment from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Wolfe Research downgraded shares of Madison Square Garden Entertainment from an “outperform” rating to a “peer perform” rating in a report on Monday, December 15th. Susquehanna increased their target price on shares of Madison Square Garden Entertainment from $51.00 to $61.00 and gave the company a “positive” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. lifted their price target on shares of Madison Square Garden Entertainment from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a report on Monday, December 29th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Walleye Capital LLC boosted its position in shares of Madison Square Garden Entertainment by 14.9% in the 4th quarter. Walleye Capital LLC now owns 633,537 shares of the company’s stock worth $34,141,000 after buying an additional 82,196 shares in the last quarter. Islander Capital Partners L.P. acquired a new position in Madison Square Garden Entertainment during the fourth quarter worth about $2,929,000. Public Sector Pension Investment Board purchased a new stake in shares of Madison Square Garden Entertainment in the fourth quarter valued at about $2,142,000. State Street Corp grew its position in shares of Madison Square Garden Entertainment by 0.9% in the fourth quarter. State Street Corp now owns 894,786 shares of the company’s stock valued at $48,220,000 after purchasing an additional 7,732 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Madison Square Garden Entertainment by 9.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 51,371 shares of the company’s stock worth $2,768,000 after purchasing an additional 4,470 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Performance

NYSE MSGE opened at $62.52 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 15.40. The business’s 50 day moving average is $56.91 and its two-hundred day moving average is $48.23. Madison Square Garden Entertainment has a 12-month low of $28.29 and a 12-month high of $63.10. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 57.89 and a beta of 0.39.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.35 by ($0.41). Madison Square Garden Entertainment had a net margin of 5.12% and a negative return on equity of 748.04%. The business had revenue of $459.94 million during the quarter, compared to analyst estimates of $448.21 million. During the same period in the prior year, the business earned $1.56 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts expect that Madison Square Garden Entertainment will post 1.04 EPS for the current year.

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.