Morgan Stanley Boosts Madison Square Garden Entertainment (NYSE:MSGE) Price Target to $45.00

Madison Square Garden Entertainment (NYSE:MSGE) had its target price boosted by Morgan Stanley from $42.00 to $45.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, The Goldman Sachs Group upgraded Madison Square Garden Entertainment from a neutral rating to a buy rating and raised their price objective for the stock from $41.00 to $45.00 in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Madison Square Garden Entertainment presently has a consensus rating of Moderate Buy and an average price target of $43.40.

Madison Square Garden Entertainment Trading Down 0.8 %

NYSE MSGE opened at $41.03 on Monday. The business’s 50-day moving average price is $36.50 and its 200 day moving average price is $37.23. The company has a market capitalization of $1.69 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 3.91 and a beta of 0.12. Madison Square Garden Entertainment has a twelve month low of $27.55 and a twelve month high of $41.76.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings data on Friday, August 16th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $1.97. The company had revenue of $186.10 million for the quarter, compared to the consensus estimate of $173.26 million. Madison Square Garden Entertainment had a negative return on equity of 53.05% and a net margin of 5.74%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the business posted ($0.47) EPS. Equities analysts predict that Madison Square Garden Entertainment will post 1.23 EPS for the current year.

Institutional Investors Weigh In On Madison Square Garden Entertainment

A number of large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its stake in Madison Square Garden Entertainment by 110.7% during the 1st quarter. Russell Investments Group Ltd. now owns 104,538 shares of the company’s stock valued at $4,099,000 after purchasing an additional 54,918 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in Madison Square Garden Entertainment during the 1st quarter valued at approximately $13,076,000. Lazard Asset Management LLC grew its stake in Madison Square Garden Entertainment by 1,569.2% during the 1st quarter. Lazard Asset Management LLC now owns 43,348 shares of the company’s stock valued at $1,699,000 after purchasing an additional 40,751 shares in the last quarter. Norges Bank acquired a new stake in Madison Square Garden Entertainment during the 4th quarter valued at approximately $14,980,000. Finally, Entropy Technologies LP acquired a new stake in Madison Square Garden Entertainment during the 1st quarter valued at approximately $287,000. Institutional investors and hedge funds own 96.86% of the company’s stock.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in live entertainment business. The company produces, presents, and hosts live entertainment events, including concerts, sports events, and other live events, such as family shows, performing arts events, and special events. Its operations include a collection of venues, the entertainment and sports bookings business, and the Christmas Spectacular Starring the Radio City Rockettes production.