Madison Square Garden Entertainment Corp. (NYSE:MSGE) Stock Has Average Price Target of $91.62

Madison Square Garden Entertainment Corp. (NYSE:MSGE) has been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $91.62.

Several equities analysts recently commented on MSGE shares. Seaport Research Partners reiterated a “neutral” rating on shares of Madison Square Garden Entertainment in a research note on Monday, June 29th. Wall Street Zen upgraded Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. BTIG Research raised their price target on Madison Square Garden Entertainment from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Guggenheim raised their price target on Madison Square Garden Entertainment from $82.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Bank of America lifted their price target on Madison Square Garden Entertainment from $80.00 to $96.00 and gave the company a “buy” rating in a report on Friday, August 14th.

Madison Square Garden Entertainment Trading Down 0.3%

Shares of MSGE opened at $77.50 on Thursday. The stock has a fifty day moving average of $79.85 and a two-hundred day moving average of $73.99. The company has a debt-to-equity ratio of 11.80, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $3.13 billion, a PE ratio of 56.16 and a beta of 0.55. Madison Square Garden Entertainment has a fifty-two week low of $43.33 and a fifty-two week high of $90.41.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.23. Madison Square Garden Entertainment had a return on equity of 480.83% and a net margin of 6.24%. The company had revenue of $196.32 million for the quarter, compared to analyst estimates of $166.62 million. During the same quarter in the prior year, the company posted ($0.57) EPS. The business’s revenue for the quarter was up 27.4% compared to the same quarter last year. As a group, analysts forecast that Madison Square Garden Entertainment will post 2.50 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Jericho Capital Asset Management L.P. boosted its position in shares of Madison Square Garden Entertainment by 26.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,662,724 shares of the company’s stock worth $197,384,000 after acquiring an additional 777,000 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Madison Square Garden Entertainment by 42.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,229,680 shares of the company’s stock valued at $98,510,000 after purchasing an additional 366,218 shares during the period. Gabelli Funds LLC increased its position in Madison Square Garden Entertainment by 2.4% during the first quarter. Gabelli Funds LLC now owns 500,420 shares of the company’s stock worth $29,480,000 after purchasing an additional 11,746 shares during the last quarter. Congress Asset Management Co. acquired a new position in Madison Square Garden Entertainment during the third quarter worth approximately $24,280,000. Finally, Bank of America Corp DE increased its position in Madison Square Garden Entertainment by 27.7% during the first quarter. Bank of America Corp DE now owns 223,411 shares of the company’s stock worth $13,161,000 after purchasing an additional 48,453 shares during the last quarter. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a live entertainment company that owns, operates and produces experiences at prominent venues. Its portfolio includes Madison Square Garden and Radio City Music Hall in New York City, the Beacon Theatre in New York, and The Chicago Theatre in Chicago.

The company presents concerts, comedy shows, family entertainment, theatrical productions and other cultural events. It is also known for producing the Radio City Christmas Spectacular, featuring the Rockettes, and for developing original entertainment and hospitality experiences connected with its venues.

Madison Square Garden Entertainment was established as an independent public company following the separation of the entertainment businesses from Madison Square Garden Sports Corp.