Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) – Analysts at Jefferies Financial Group decreased their Q1 2023 earnings per share (EPS) estimates for shares of Madison Square Garden Entertainment in a report issued on Monday, August 22nd. Jefferies Financial Group analyst D. Katz now anticipates that the company will earn ($1.14) per share for the quarter, down from their previous estimate of ($0.93). The consensus estimate for Madison Square Garden Entertainment's current full-year earnings is $0.11 per share. Jefferies Financial Group also issued estimates for Madison Square Garden Entertainment's Q3 2023 earnings at ($0.07) EPS, Q4 2023 earnings at ($0.17) EPS, FY2023 earnings at ($0.48) EPS and FY2024 earnings at $0.33 EPS.
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Several other analysts also recently weighed in on MSGE. Guggenheim dropped their price objective on Madison Square Garden Entertainment from $96.00 to $85.00 and set a "buy" rating for the company in a research report on Tuesday. Wolfe Research dropped their target price on Madison Square Garden Entertainment from $88.00 to $73.00 and set a "peer perform" rating for the company in a research report on Thursday, June 2nd. Finally, Morgan Stanley dropped their target price on Madison Square Garden Entertainment from $65.00 to $63.00 and set an "underweight" rating for the company in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $83.00.
Madison Square Garden Entertainment Price Performance
Shares of MSGE stock opened at $60.61 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.75. Madison Square Garden Entertainment has a twelve month low of $48.07 and a twelve month high of $85.60. The company has a market cap of $2.07 billion, a P/E ratio of -10.12 and a beta of 1.27. The business has a fifty day simple moving average of $56.83 and a 200 day simple moving average of $67.77.
Hedge Funds Weigh In On Madison Square Garden Entertainment
Several large investors have recently bought and sold shares of MSGE. MBM Wealth Consultants LLC bought a new position in shares of Madison Square Garden Entertainment during the first quarter worth about $28,000. Eagle Bay Advisors LLC bought a new position in shares of Madison Square Garden Entertainment during the second quarter worth about $41,000. Point72 Hong Kong Ltd bought a new position in shares of Madison Square Garden Entertainment during the first quarter worth about $62,000. US Bancorp DE raised its position in shares of Madison Square Garden Entertainment by 94.5% during the second quarter. US Bancorp DE now owns 1,299 shares of the company's stock worth $68,000 after acquiring an additional 631 shares during the last quarter. Finally, WASHINGTON TRUST Co bought a new position in shares of Madison Square Garden Entertainment during the first quarter worth about $125,000. 73.12% of the stock is currently owned by institutional investors.
About Madison Square Garden Entertainment
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Madison Square Garden Entertainment Corp. engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre, and The Chicago Theatre.
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