Madison Square Garden Entertainment (NYSE:MSGE) Stock Price Expected to Rise, Susquehanna Analyst Says

Madison Square Garden Entertainment (NYSE:MSGE) had its target price increased by research analysts at Susquehanna from $51.00 to $61.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price target indicates a potential upside of 10.01% from the company’s previous close.

Several other research analysts have also issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research report on Monday. Wall Street Zen raised Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. JPMorgan Chase & Co. upped their price objective on Madison Square Garden Entertainment from $41.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Finally, The Goldman Sachs Group lifted their target price on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Madison Square Garden Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $49.17.

Madison Square Garden Entertainment Trading Up 4.0%

MSGE stock traded up $2.15 during midday trading on Thursday, reaching $55.45. 111,913 shares of the company traded hands, compared to its average volume of 341,527. Madison Square Garden Entertainment has a 52-week low of $28.29 and a 52-week high of $55.75. The company has a debt-to-equity ratio of 60.61, a quick ratio of 0.48 and a current ratio of 0.48. The business has a 50 day moving average of $46.64 and a 200-day moving average of $42.22. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 79.30 and a beta of 0.43.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.13. The firm had revenue of $158.26 million for the quarter, compared to the consensus estimate of $156.62 million. Madison Square Garden Entertainment had a negative return on equity of 310.15% and a net margin of 3.65%.The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.40) EPS. As a group, sell-side analysts expect that Madison Square Garden Entertainment will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE lifted its stake in Madison Square Garden Entertainment by 2,273.6% in the 1st quarter. US Bancorp DE now owns 3,869 shares of the company’s stock valued at $127,000 after buying an additional 3,706 shares in the last quarter. Nuveen LLC purchased a new stake in Madison Square Garden Entertainment in the 1st quarter valued at $5,055,000. Fox Run Management L.L.C. acquired a new stake in shares of Madison Square Garden Entertainment in the 1st quarter worth $290,000. Algert Global LLC acquired a new position in shares of Madison Square Garden Entertainment during the 1st quarter valued at about $332,000. Finally, Northern Trust Corp grew its holdings in shares of Madison Square Garden Entertainment by 30.0% in the first quarter. Northern Trust Corp now owns 670,883 shares of the company’s stock valued at $21,965,000 after purchasing an additional 154,888 shares during the period. 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.