Madison Square Garden Entertainment (NYSE:MSGE) Stock Price Target Raised at JPMorgan Chase & Co.

Madison Square Garden Entertainment (NYSE:MSGE) had its target price increased by JPMorgan Chase & Co. from $83.00 to $84.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages also recently commented on MSGE. The Goldman Sachs Group lowered Madison Square Garden Entertainment from a “buy” rating to a “neutral” rating and increased their target price for the company from $72.00 to $82.00 in a report on Thursday, July 9th. Piper Sandler started coverage on shares of Madison Square Garden Entertainment in a report on Thursday, August 20th. They set a “neutral” rating and a $86.00 price objective on the stock. BTIG Research increased their target price on shares of Madison Square Garden Entertainment from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Bank of America raised their price objective on Madison Square Garden Entertainment from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, Guggenheim boosted their target price on Madison Square Garden Entertainment from $82.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Madison Square Garden Entertainment presently has a consensus rating of “Hold” and an average target price of $90.50.

Madison Square Garden Entertainment Stock Down 4.0%

Shares of NYSE MSGE opened at $75.58 on Thursday. The stock has a market cap of $3.07 billion, a P/E ratio of 37.23 and a beta of 0.56. The business’s fifty day simple moving average is $79.13 and its 200-day simple moving average is $70.80. Madison Square Garden Entertainment has a 12-month low of $43.33 and a 12-month high of $90.41. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 11.80.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Wednesday, November 4th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.24. Madison Square Garden Entertainment had a net margin of 8.64% and a return on equity of 248.45%. The firm had revenue of $217.13 million for the quarter, compared to analyst estimates of $208.11 million. During the same period in the prior year, the firm earned ($0.46) earnings per share. The business’s quarterly revenue was up 37.2% compared to the same quarter last year. As a group, equities analysts predict that Madison Square Garden Entertainment will post 2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Madison Square Garden Entertainment by 4.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,655 shares of the company’s stock worth $453,000 after buying an additional 227 shares during the last quarter. Ethic Inc. acquired a new stake in Madison Square Garden Entertainment during the third quarter worth approximately $223,000. Providence First Trust Co purchased a new stake in shares of Madison Square Garden Entertainment in the third quarter valued at $308,000. Putney Financial Group LLC purchased a new stake in Madison Square Garden Entertainment in the 3rd quarter valued at about $69,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Madison Square Garden Entertainment by 444.0% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 13,600 shares of the company’s stock valued at $1,089,000 after purchasing an additional 11,100 shares during the period. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Key Madison Square Garden Entertainment News

Here are the key news stories impacting Madison Square Garden Entertainment this week:

• Positive Sentiment: Fiscal Q1 revenue rose 37.2% year over year to $217.1 million, exceeding estimates of about $208.1 million. MSGE earned $0.19 per share, versus expectations for a loss, and compared with a loss of $0.46 a year earlier. A record number of concerts at Madison Square Garden and demand linked to Harry Styles’ performances contributed to the revenue growth. Fiscal 2027 first-quarter results
• Positive Sentiment: Susquehanna raised its price target from $92 to $93 and retained a positive rating. JPMorgan also raised its target, from $83 to $84, although it maintained a neutral rating. Susquehanna recommendations JPMorgan recommendations
• Positive Sentiment: Management repurchased $25 million of Class A shares during the quarter. MSGE also plans 231 performances of its Christmas Spectacular in fiscal 2027 and anticipates more than 1.2 million guests, signaling a substantial upcoming event slate. Long-term investor takeaways Christmas Spectacular plans
• Neutral Sentiment: Despite the upbeat earnings and analyst updates, the supplied reports do not explain why MSGE shares moved lower in trading.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a live entertainment company that owns, operates and manages prominent entertainment venues and produces live events. Its portfolio includes Madison Square Garden, Radio City Music Hall, the Beacon Theatre and The Chicago Theatre, as well as the Hulu Theater at Madison Square Garden.

The company presents and promotes concerts, family entertainment, comedy shows, sporting events and other special events. It also produces the annual Christmas Spectacular Starring the Radio City Rockettes and supports a range of entertainment experiences through its venue operations, booking activities and event-related services.

Madison Square Garden Entertainment primarily serves audiences in the United States, with a concentration in New York City and Chicago.