Madison Square Garden Entertainment (NYSE:MSGE) Upgraded by Wall Street Zen to Hold Rating

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

A number of other equities research analysts have also weighed in on MSGE. Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a report on Wednesday, October 8th. The Goldman Sachs Group lifted their price target on shares of 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. Morgan Stanley boosted their price target on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. lifted their target price on Madison Square Garden Entertainment from $41.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Madison Square Garden Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.

Madison Square Garden Entertainment Stock Up 5.3%

Shares of NYSE MSGE opened at $46.61 on Friday. Madison Square Garden Entertainment has a 1 year low of $28.29 and a 1 year high of $48.09. The firm has a 50-day simple moving average of $44.16 and a two-hundred day simple moving average of $40.02. The company has a market cap of $1.88 billion, a P/E ratio of 66.59 and a beta of 0.48. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.47 and a quick ratio of 0.47.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.13. The firm had revenue of $158.26 million during the quarter, compared to analyst estimates of $156.62 million. Madison Square Garden Entertainment had a return on equity of 2,102.70% and a net margin of 3.65%.Madison Square Garden Entertainment’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company earned ($0.40) EPS. Research analysts anticipate that Madison Square Garden Entertainment will post 1.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. CWM LLC grew its holdings in Madison Square Garden Entertainment by 623.8% in 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. boosted its position in shares of Madison Square Garden Entertainment by 163.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,086 shares of the company’s stock worth $43,000 after purchasing an additional 673 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Madison Square Garden Entertainment during the 1st quarter worth $40,000. State of Alaska Department of Revenue acquired a new position in Madison Square Garden Entertainment during the 3rd quarter valued at about $59,000. Finally, State of Wyoming acquired a new position in Madison Square Garden Entertainment during the 2nd quarter valued at about $62,000. Institutional investors own 96.86% of the company’s stock.

About Madison Square Garden Entertainment

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.