Madison Square Garden Entertainment (NYSE:MSGE) issued its quarterly earnings data on Friday. The company reported ($3.66) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($4.38) by $0.72, Briefing.com reports. The firm had revenue of $43.10 million during the quarter, compared to the consensus estimate of $44.42 million. During the same period in the previous year, the company posted ($5.36) earnings per share. The company’s revenue for the quarter was down 78.4% on a year-over-year basis.
Shares of Madison Square Garden Entertainment stock traded up $3.59 on Friday, reaching $90.34. 283,867 shares of the company traded hands, compared to its average volume of 277,120. The company has a 50 day moving average of $89.74 and a 200 day moving average of $92.11. The firm has a market capitalization of $2.18 billion and a PE ratio of -24.28. Madison Square Garden Entertainment has a 52 week low of $63.55 and a 52 week high of $121.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 2.61.
MSGE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of Madison Square Garden Entertainment from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $100.00 to $105.00 in a research report on Tuesday, February 16th. Zacks Investment Research raised shares of Madison Square Garden Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, April 15th. Finally, Morgan Stanley upped their price objective on shares of Madison Square Garden Entertainment from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $97.63.
A hedge fund recently bought a new stake in Madison Square Garden Entertainment stock. OLD Mission Capital LLC acquired a new position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,090 shares of the company’s stock, valued at approximately $417,000. 68.78% of the stock is owned by institutional investors and hedge funds.
About Madison Square Garden Entertainment
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, professional bull riding, mixed martial arts, and esports in its venues, including New York’s Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre, and The Chicago Theatre.
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