Brokerages Set Madison Square Garden Entertainment Corp. (NYSE:MSGE) Price Target at $43.00

Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) have been given an average rating of “Moderate Buy” by the five research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $43.00.

A number of brokerages have commented on MSGE. 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. Morgan Stanley raised their price target on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 12th.

Institutional Investors Weigh In On Madison Square Garden Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV acquired a new position in shares of Madison Square Garden Entertainment in the 1st quarter valued at $31,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Madison Square Garden Entertainment in the 1st quarter valued at about $40,000. CWM LLC lifted its position in Madison Square Garden Entertainment by 623.8% in the second quarter. CWM LLC now owns 1,035 shares of the company’s stock valued at $41,000 after buying an additional 892 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in Madison Square Garden Entertainment by 163.0% during the second quarter. Cullen Frost Bankers Inc. now owns 1,086 shares of the company’s stock worth $43,000 after buying an additional 673 shares during the period. Finally, NBC Securities Inc. boosted its stake in Madison Square Garden Entertainment by 136,900.0% during the first quarter. NBC Securities Inc. now owns 1,370 shares of the company’s stock worth $44,000 after buying an additional 1,369 shares during the period. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Up 2.1%

Shares of NYSE MSGE opened at $44.19 on Wednesday. The stock has a market cap of $2.10 billion, a PE ratio of 58.15 and a beta of 0.44. 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 has a 12-month low of $28.29 and a 12-month high of $44.39. The company has a 50-day moving average of $39.45 and a 200 day moving average of $36.40.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its earnings results on Wednesday, August 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.03). Madison Square Garden Entertainment had a net margin of 3.97% and a negative return on equity of 458.14%. The company had revenue of $154.14 million during the quarter, compared to analysts’ expectations of $151.17 million. During the same quarter in the previous year, the company earned $1.41 earnings per share. The firm’s quarterly revenue was down 17.2% compared to the same quarter last year. As a group, sell-side analysts predict that Madison Square Garden Entertainment will post 1.04 EPS for the current fiscal year.

Madison Square Garden Entertainment Company Profile

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.