Madison Square Garden Entertainment (NYSE:MSGE) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Madison Square Garden Entertainment (NYSE:MSGE) from a sell rating to a hold rating in a research report report published on Saturday.

Several other equities analysts have also recently issued reports on MSGE. Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a research note on Wednesday. Morgan Stanley lifted their price objective on 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. Finally, The Goldman Sachs Group lifted their price objective on 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. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Madison Square Garden Entertainment currently has an average rating of “Moderate Buy” and an average price target of $45.20.

Madison Square Garden Entertainment Stock Performance

NYSE MSGE opened at $41.71 on Friday. The company has a market cap of $1.98 billion, a P/E ratio of 54.88 and a beta of 0.49. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a 50-day moving average of $41.66 and a two-hundred day moving average of $38.08. Madison Square Garden Entertainment has a 1-year low of $28.29 and a 1-year high of $48.09.

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

Institutional Investors Weigh In On Madison Square Garden Entertainment

Several institutional investors have recently added to or reduced their stakes in MSGE. KBC Group NV purchased a new stake in Madison Square Garden Entertainment during the first quarter worth approximately $31,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Madison Square Garden Entertainment during the first quarter worth approximately $40,000. CWM LLC lifted its stake in Madison Square Garden Entertainment by 623.8% during the second quarter. CWM LLC now owns 1,035 shares of the company’s stock worth $41,000 after purchasing an additional 892 shares during the last quarter. Cullen Frost Bankers Inc. lifted 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 purchasing an additional 673 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Madison Square Garden Entertainment during the second quarter worth approximately $62,000. Hedge funds and other institutional investors own 96.86% of the company’s stock.

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.