Madison Square Garden Entertainment (MSGE) to Announce Earnings on Friday

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) will release its 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. Persons interested in registering for the company's earnings conference call can do so using this link.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $186.10 million during 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%. Madison Square Garden Entertainment's revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($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 Price Performance

Shares of NYSE:MSGE traded up $1.00 during trading on Tuesday, hitting $41.54. 227,592 shares of the company were exchanged, compared to its average volume of 394,088. The company has a market cap of $1.73 billion, a PE ratio of 13.58, a P/E/G ratio of 3.55 and a beta of 0.17. The stock has a 50 day moving average of $41.67 and a 200 day moving average of $38.59. Madison Square Garden Entertainment has a 52-week low of $27.55 and a 52-week high of $44.04.

Wall Street Analyst Weigh In

MSGE has been the topic of several analyst reports. Macquarie upped their price target on Madison Square Garden Entertainment from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Thursday, August 22nd. Bank of America increased their target price on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, August 19th. Morgan Stanley boosted their price target on shares of 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, The Goldman Sachs Group upgraded Madison Square Garden Entertainment from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $41.00 to $45.00 in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Madison Square Garden Entertainment presently has an average rating of "Moderate Buy" and an average price target of $44.20.

Insider Transactions at Madison Square Garden Entertainment

In related news, EVP Philip Gerard D'ambrosio sold 6,000 shares of the stock in a transaction on 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 owns 12,192 shares of the company's stock, valued at $517,306.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.