Madison Square Garden Entertainment (MSGE) to Release Quarterly Earnings on Friday

Madison Square Garden Entertainment (NYSE:MSGE) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, November 8th. Analysts expect Madison Square Garden Entertainment to post earnings of ($0.78) per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings results on Friday, August 16th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of ($0.56) by $1.97. The company had revenue of $186.10 million for the quarter, compared to analyst estimates of $173.26 million. Madison Square Garden Entertainment had a negative return on equity of 138.81% and a net margin of 15.04%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.47) earnings per share. On average, analysts expect Madison Square Garden Entertainment to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Madison Square Garden Entertainment Trading Up 4.3 %

Shares of Madison Square Garden Entertainment stock opened at $43.32 on Thursday. Madison Square Garden Entertainment has a 12 month low of $27.55 and a 12 month high of $44.05. The firm has a market capitalization of $1.80 billion, a P/E ratio of 14.16, a P/E/G ratio of 3.51 and a beta of 0.17. The business has a fifty day simple moving average of $41.67 and a two-hundred day simple moving average of $38.62.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MSGE. The Goldman Sachs Group raised shares of Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $41.00 to $45.00 in a research note on Wednesday, July 24th. Macquarie boosted their price target on Madison Square Garden Entertainment from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Morgan Stanley raised their price objective on Madison Square Garden Entertainment from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Bank of America boosted their target price on Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.20.

Insider Transactions at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $42.43, for a total value of $254,580.00. Following the transaction, the executive vice president now directly owns 12,192 shares of the company’s stock, valued at approximately $517,306.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.85% of the company’s stock.

About Madison Square Garden Entertainment

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.