Brokers Set Expectations for Madison Square Garden Entertainment Corp.’s FY2022 Earnings (NYSE:MSGE)

Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) – Equities researchers at Jefferies Financial Group lowered their FY2022 EPS estimates for Madison Square Garden Entertainment in a research note issued to investors on Tuesday, May 10th. Jefferies Financial Group analyst D. Katz now forecasts that the company will earn ($3.06) per share for the year, down from their prior estimate of ($2.10).

Madison Square Garden Entertainment (NYSE:MSGE – Get Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.55). Madison Square Garden Entertainment had a negative return on equity of 9.60% and a negative net margin of 16.04%. The company had revenue of $460.10 million for the quarter, compared to analyst estimates of $441.64 million. During the same quarter in the prior year, the company earned ($3.66) earnings per share. Madison Square Garden Entertainment’s revenue for the quarter was up 114.7% compared to the same quarter last year.

Several other research firms have also recently weighed in on MSGE. JPMorgan Chase & Co. decreased their price objective on shares of Madison Square Garden Entertainment from $79.00 to $76.00 in a research report on Thursday, April 21st. Oppenheimer cut their target price on shares of Madison Square Garden Entertainment from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, February 10th. Finally, Zacks Investment Research raised shares of Madison Square Garden Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, April 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Madison Square Garden Entertainment currently has a consensus rating of “Hold” and a consensus price target of $87.33.

Shares of NYSE MSGE opened at $59.09 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.88 and a current ratio of 1.51. Madison Square Garden Entertainment has a 52-week low of $57.66 and a 52-week high of $94.37. The firm has a 50 day moving average price of $76.92 and a two-hundred day moving average price of $73.77.

Several institutional investors and hedge funds have recently made changes to their positions in MSGE. Cubist Systematic Strategies LLC grew its position in Madison Square Garden Entertainment by 414.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 38,372 shares of the company’s stock valued at $2,788,000 after purchasing an additional 30,913 shares during the last quarter. Macquarie Group Ltd. grew its position in Madison Square Garden Entertainment by 16.6% during the 3rd quarter. Macquarie Group Ltd. now owns 1,897 shares of the company’s stock valued at $138,000 after purchasing an additional 270 shares during the last quarter. Invesco Ltd. grew its position in Madison Square Garden Entertainment by 37.2% during the 3rd quarter. Invesco Ltd. now owns 64,480 shares of the company’s stock valued at $4,686,000 after purchasing an additional 17,497 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Madison Square Garden Entertainment during the 3rd quarter valued at about $956,000. Finally, Eagle Bay Advisors LLC grew its position in Madison Square Garden Entertainment by 209.1% during the 3rd quarter. Eagle Bay Advisors LLC now owns 680 shares of the company’s stock valued at $50,000 after purchasing an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 73.12% of the company’s stock.

Madison Square Garden Entertainment Company Profile (Get Rating)

Madison Square Garden Entertainment Corp. engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre, and The Chicago Theatre.

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