EPS of $0.36 expected for Madison Square Garden Entertainment Corp. (NYSE:MSGE) this quarter


Stock analysts expect Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) shows earnings per share (EPS) of $0.36 for the current quarter, according to Zacks Investment Research. Three analysts have released earnings estimates for Madison Square Garden Entertainment. Madison Square Garden Entertainment reported earnings per share of ($3.66) in the same quarter last year, suggesting a positive year-over-year growth rate of 109.8%. The company is expected to release its next quarterly earnings report on Monday, January 1.

On average, analysts expect Madison Square Garden Entertainment to report annual earnings of $2.10 per share for the current fiscal year. For next year, analysts expect the company to post earnings of $0.91 per share. Zacks Investment Research EPS averages are an average based on a survey of analysts who provide coverage for Madison Square Garden Entertainment.

Madison Square Garden Entertainment (NYSE:MSGE – Get Rating) last released its results on Wednesday, February 9. The company reported ($0.11) earnings per share for the quarter, missing the Zacks consensus estimate of $0.82 per ($0.93). The company posted revenue of $516.44 million for the quarter, versus a consensus estimate of $538.76 million. Madison Square Garden Entertainment had a negative net margin of 29.56% and a negative return on equity of 12.07%. During the same period last year, the company made ($5.13) earnings per share.

MSGE has been the subject of several recent research reports. Oppenheimer cut his price target on Madison Square Garden Entertainment from $115.00 to $95.00 and set an “outperform” rating for the company in a Thursday, Feb. 10 research report. Jefferies Financial Group reduced its price target on Madison Square Garden Entertainment from $115.00 to $106.00 in a Friday, February 11 research report. Zacks Investment Research upgraded Madison Square Garden Entertainment from a “sell” rating to a “hold” rating in a Wednesday, April 13 research report. Finally, JPMorgan Chase & Co. reduced its price target on Madison Square Garden Entertainment from $79.00 to $76.00 in a Thursday, April 21 research report. One research analyst gave the stock a sell rating, three gave the company a hold rating and one gave the company a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.33.

MSGE opened at $73.25 on Wednesday. The company has a market capitalization of $2.51 billion, a price/earnings ratio of -6.65 and a beta of 1.00. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt ratio of 0.76. Madison Square Garden Entertainment has a 12 month minimum of $60.26 and a 12 month maximum of $94.37. The stock has a fifty-day moving average price of $78.38 and a 200-day moving average price of $73.86.

Large investors have recently changed their positions in the stock. Cubist Systematic Strategies LLC increased its position in Madison Square Garden Entertainment by 414.4% during Q3. Cubist Systematic Strategies LLC now owns 38,372 shares of the company valued at $2,788,000 after purchasing an additional 30,913 shares last quarter. Macquarie Group Ltd. increased its position in Madison Square Garden Entertainment by 16.6% during the third quarter. Macquarie Group Ltd. now owns 1,897 shares of the company valued at $138,000 after purchasing an additional 270 shares last quarter. Invesco Ltd. increased its position in Madison Square Garden Entertainment by 37.2% during the 3rd quarter. Invesco Ltd. now owns 64,480 shares of the company valued at $4,686,000 after purchasing an additional 17,497 shares last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Madison Square Garden Entertainment during Q3 worth approximately $956,000. Finally, Eagle Bay Advisors LLC increased its stake in Madison Square Garden Entertainment by 209.1% in the 3rd quarter. Eagle Bay Advisors LLC now owns 680 shares of the company valued at $50,000 after purchasing an additional 460 shares in the last quarter. 71.92% of the shares are currently held by institutional investors.

Madison Square Garden Entertainment Company Profile (Get a rating)

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. in its venues, including Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre, and Chicago Theatre.

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



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