Brokerages Set Madison Square Garden Entertainment Corp. (NYSE:MSGE) Price Target at $45.20

Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $45.20.

A number of brokerages recently commented on MSGE. Wall Street Zen cut shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a research note on Saturday, September 27th. The Goldman Sachs Group increased their price objective on shares of Madison Square Garden Entertainment from $42.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Finally, Morgan Stanley increased their price objective on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV purchased a new position in Madison Square Garden Entertainment in the 1st quarter valued at about $31,000. CWM LLC lifted its holdings in Madison Square Garden Entertainment by 623.8% in the 2nd quarter. CWM LLC now owns 1,035 shares of the company’s stock valued at $41,000 after purchasing an additional 892 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in Madison Square Garden Entertainment by 163.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,086 shares of the company’s stock valued at $43,000 after purchasing an additional 673 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Madison Square Garden Entertainment in the 1st quarter valued at about $40,000. Finally, NBC Securities Inc. lifted its holdings in Madison Square Garden Entertainment by 136,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,370 shares of the company’s stock valued at $44,000 after purchasing an additional 1,369 shares in the last quarter. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Stock Performance

NYSE:MSGE opened at $43.46 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 60.61. Madison Square Garden Entertainment has a fifty-two week low of $28.29 and a fifty-two week high of $48.09. The stock has a market cap of $2.06 billion, a PE ratio of 57.18 and a beta of 0.49. The firm’s fifty day simple moving average is $41.39 and its 200-day simple moving average is $37.91.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.03). Madison Square Garden Entertainment had a negative return on equity of 458.14% and a net margin of 3.97%.The company had revenue of $154.14 million for the quarter, compared to analyst estimates of $151.17 million. During the same period last year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was down 17.2% compared to the same quarter last year. Analysts expect that Madison Square Garden Entertainment will post 1.04 earnings per share 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.