Madison Square Garden Entertainment Corp. (NYSE:MSGE) Stock Has Average Price Target of $91.62

Madison Square Garden Entertainment Corp. (NYSE:MSGE) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $91.62.

MSGE has been the subject of several research reports. BTIG Research raised their target price on Madison Square Garden Entertainment from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Seaport Research Partners reiterated a “neutral” rating on shares of Madison Square Garden Entertainment in a research report on Monday, June 29th. Susquehanna upped their price target on shares of Madison Square Garden Entertainment from $80.00 to $103.00 and gave the company a “positive” rating in a report on Thursday, August 13th. Weiss Ratings restated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research report on Friday, July 31st. Finally, Piper Sandler started coverage on shares of Madison Square Garden Entertainment in a research note on Thursday, August 20th. They issued a “neutral” rating and a $86.00 price objective on the stock.

Institutional Trading of Madison Square Garden Entertainment

A number of large investors have recently added to or reduced their stakes in MSGE. Scholtz & Company LLC raised its position in shares of Madison Square Garden Entertainment by 67.8% during the second quarter. Scholtz & Company LLC now owns 62,037 shares of the company’s stock worth $5,018,000 after purchasing an additional 25,066 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Madison Square Garden Entertainment in the 2nd quarter valued at $323,000. Squarepoint Ops LLC purchased a new position in Madison Square Garden Entertainment in the 2nd quarter worth about $4,816,000. Nykredit A S purchased a new position in Madison Square Garden Entertainment in the 2nd quarter worth about $46,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Madison Square Garden Entertainment during the 2nd quarter worth about $202,000. 96.86% of the stock is currently owned by institutional investors.

Madison Square Garden Entertainment Price Performance

Shares of NYSE:MSGE opened at $79.14 on Friday. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 57.35 and a beta of 0.56. The company has a debt-to-equity ratio of 11.80, a current ratio of 0.70 and a quick ratio of 0.70. Madison Square Garden Entertainment has a 12 month low of $41.65 and a 12 month high of $90.41. The stock’s 50 day moving average price is $78.89 and its 200 day moving average price is $71.31.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.23. Madison Square Garden Entertainment had a return on equity of 480.83% and a net margin of 6.24%.The firm had revenue of $196.32 million during the quarter, compared to analyst estimates of $166.62 million. During the same period last year, the company posted ($0.57) EPS. The firm’s quarterly revenue was up 27.4% on a year-over-year basis. Equities research analysts anticipate that Madison Square Garden Entertainment will post 2.5 earnings per share for the current fiscal year.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. is a live entertainment company that owns, operates and produces events at prominent venues in the United States. Its portfolio includes Madison Square Garden and Radio City Music Hall in New York City, as well as the Beacon Theatre in New York and The Chicago Theatre in Illinois.

The company presents concerts, comedy shows, family entertainment, sporting events and other live performances. Its productions include the annual Christmas Spectacular Starring the Radio City Rockettes, along with original entertainment and special events.