Madison Square Garden Entertainment Corp. (NYSE:MSGE) Stock Now Rated “Moderate Buy” by Wall Street Analysts

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

A number of research firms recently commented on MSGE. Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Madison Square Garden Entertainment in a report on Friday, July 31st. Zacks Research upgraded shares of Madison Square Garden Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Piper Sandler began coverage on Madison Square Garden Entertainment in a research note on Thursday, August 20th. They set a “neutral” rating and a $86.00 price target on the stock. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $82.00 price target (up from $72.00) on shares of Madison Square Garden Entertainment in a research note on Thursday, July 9th.

Institutional Trading of Madison Square Garden Entertainment

Institutional investors have recently bought and sold shares of the company. Nykredit A S purchased a new position in shares of Madison Square Garden Entertainment in the second quarter valued at $46,000. Fifth Third Bancorp acquired a new position in shares of Madison Square Garden Entertainment during the 1st quarter worth $113,000. State of Wyoming purchased a new stake in shares of Madison Square Garden Entertainment in the 1st quarter worth about $131,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Madison Square Garden Entertainment in the 2nd quarter worth about $202,000. Finally, IFP Advisors Inc grew its stake in Madison Square Garden Entertainment by 11,791.7% in the 4th quarter. IFP Advisors Inc now owns 2,854 shares of the company’s stock valued at $154,000 after acquiring an additional 2,830 shares during the last quarter. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Trading Up 0.9%

NYSE:MSGE opened at $79.17 on Friday. The stock has a fifty day moving average price of $78.81 and a two-hundred day moving average price of $71.25. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 57.37 and a beta of 0.56. The company has a debt-to-equity ratio of 11.80, a quick ratio of 0.70 and a current ratio of 0.70. Madison Square Garden Entertainment has a 1 year low of $41.65 and a 1 year high of $90.41.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its earnings results on Wednesday, August 12th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.23. Madison Square Garden Entertainment had a net margin of 6.24% and a return on equity of 480.83%. The company had revenue of $196.32 million for the quarter, compared to analyst estimates of $166.62 million. During the same period in the previous year, the firm earned ($0.57) EPS. The business’s revenue was up 27.4% on a year-over-year basis. As a group, sell-side 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.