Brokers Release Guidance for Madison Square Garden Entertainment Corp’s First Quarter 2023 Earnings (NYSE:MSGE)


Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) – Jefferies Financial Group analysts cut their first quarter 2023 earnings per share (EPS) estimates for Madison Square Garden Entertainment shares in a report released Monday, August 22. Jefferies Financial Group analyst D. Katz now expects the company to earn ($1.14) per share for the quarter, down from his previous estimate of ($0.93). Madison Square Garden Entertainment’s current annual earnings consensus estimate is $0.11 per share. Jefferies Financial Group also released estimates for Madison Square Garden Entertainment Q3 2023 earnings at ($0.07) EPS, Q4 2023 earnings at ($0.17) EPS, fiscal year 2023 earnings at ($0.48) EPS and FY2024 earnings at $0.33 EPS.

Several other analysts have also recently weighed in on MSGE. Guggenheim lowered its price target on Madison Square Garden Entertainment from $96.00 to $85.00 and set a “buy” rating for the company in a research report Tuesday. Wolfe Research lowered its target price on Madison Square Garden Entertainment from $88.00 to $73.00 and set a “peer performance” rating for the company in a Thursday, June 2 research report. Finally, Morgan Stanley lowered its price target on Madison Square Garden Entertainment from $65.00 to $63.00 and set an “underweight” rating for the company in a Wednesday, June 15 research report. One financial analyst has assigned the stock a sell rating, two have issued a hold rating and two have assigned the stock a buy rating. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $83.00.

Madison Square Garden Entertainment Fare Performance

MSGE shares opened at $60.61 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt ratio of 0.75. Madison Square Garden Entertainment has a 12-month low of $48.07 and a 12-month high of $85.60. The company has a market capitalization of $2.07 billion, a P/E ratio of -10.12 and a beta of 1.27. The company has a fifty-day simple moving average of $56.83 and a 200-day simple moving average of $67.77.

Hedge funds weigh on Madison Square Garden Entertainment

Several large investors have recently bought and sold shares of MSGE. MBM Wealth Consultants LLC purchased a new stock position in Madison Square Garden Entertainment during the first quarter for a value of approximately $28,000. Eagle Bay Advisors LLC purchased a new stock position in Madison Square Garden Entertainment during the second quarter worth approximately $41,000. Point72 Hong Kong Ltd bought a new position in shares of Madison Square Garden Entertainment during the first quarter for a value of approximately $62,000. US Bancorp DE increased its position in Madison Square Garden Entertainment shares by 94.5% during the second quarter. US Bancorp DE now owns 1,299 shares of the company worth $68,000 after acquiring 631 additional shares in the last quarter. Finally, WASHINGTON TRUST Co bought a new stock position in Madison Square Garden Entertainment during the first quarter for a value of approximately $125,000. 73.12% of the shares are currently held by institutional investors.

About Madison Square Garden Entertainment

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Madison Square Garden Entertainment Corp. is active in the entertainment sector. 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, horse riding professional bullfighting, mixed martial arts, electronic sports and wrestling. at its venues, including Madison Square Garden, the Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theater, and the Chicago Theater.

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Earnings history and estimates for Madison Square Garden Entertainment (NYSE:MSGE)



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