This Analyst Recently Issued Research Note On Madison Square Garden Entertainment Corp. (MSGE)


As of Wednesday close, Madison Square Garden Entertainment Corp.’s (NYSE:MSGE) stock was up $1.1, moving up 2.47 percent to $45.66. The average number of shares traded per day over the past five days has been 221,540 shares. 2 times new highs have been achieved over the past 5 days, with a $2.06 gain in that time frame. In the last twenty days, the average volume was 230,200, while in the previous 50 days, it was 217,628.

Since last month, MSGE stock retreated -6.45%. Shares of the company fell to $38.98 on 11/09/22, the lowest level in the past month. A 52-week high of $84.57 was reached on 04/01/22 after having rallying from a 52-week low of $38.98. Since the beginning of this year, MSGE’s stock price has dropped by -35.09% or -$24.68, and marked a new high 12 times. However, the stock has declined by -46.01% since its 52-week high.

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MSGE stock investors should be aware that Madison Square Garden Entertainment Corp. (MSGE) stock had its last reported insider trading activity 63 days ago on Sep 22. D’Ambrosio Philip Gerard, the SVP and Treasurer of the company, purchased of 600 shares for $49.22 on Sep 22. It resulted in a $29,532 investment by the insider.

Financial Health

In the three months ended June 29, Madison Square Garden Entertainment Corp.’s quick ratio stood at 0.90, while its current ratio was 0.90, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.87, and the total debt-to-equity ratio was 0.91. On the profitability front, the trailing twelve-month gross margin is 42.10% percent. In the year ended June 29, operating margins totaled -5.50%. Based on annual data, MSGE earned $715.37 million in gross profit and brought in $1.72 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -3.00%. Return on equity (ROE) for the past 12 months was -8.10%.

In Madison Square Garden Entertainment Corp.’s quarter-end financial report for June 29, it reported total debt of $1.65 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. MSGE’s revenue rose 26.6% to $453.54 million during the quarter, while net income inched up to $401.22 million. While analysts expected Madison Square Garden Entertainment Corp. to report -$0.54 quarterly earnings, the actual figure was -$1.88 per share, beating the consensus estimate by -248.10%. During the quarter, the company generated -$6.01 million in EBITDA. The liabilities of Madison Square Garden Entertainment Corp. were 3.51 billion at the end of its most recent quarter ended June 29, and its total debt was $2.24 billion. The value of shareholders’ equity is $34.55 million.

Technical Picture

This quick technical analysis looks at Madison Square Garden Entertainment Corp.’s (MSGE) price momentum. With a historical volatility rate of 31.37%, the RSI 9-day stood at 54.90% on 23 November.

With respect to its five-day moving average, the current Madison Square Garden Entertainment Corp. price is up by +4.72% percent or $2.06. At present, MSGE shares trade -5.39% below its 20-day simple moving average and -16.11% percent below its 100-day simple moving average. However, the stock is currently trading approximately -20.78% below its SMA50 and -37.46% below its SMA200.

Stochastic coefficient K was 69.53% and Stochastic coefficient D was 56.94%, while ATR was 2.20. Given the Stochastic reading of 89.19% for the 14-day period, the RSI (14) reading has been calculated as 50.36%. As of today, the MACD Oscillator reading stands at 0.58, while the 14-day reading stands at 0.39.

Analyst Ratings

Madison Square Garden Entertainment Corp. downgraded its rating on Madison Square Garden Entertainment Corp. (NYSE: MSGE) to a Hold in a note to investors on November 15, 2022. The analysts firm previously had a Buy rating on the stock.Madison Square Garden Entertainment Corp. (MSGE) has been rated Overweight by analysts. According to 1 brokerage firm, MSGE is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Madison Square Garden Entertainment Corp. stock as buy, with 3 recommending it as overweight.

With a median target price of $62.00, the current consensus forecast for the stock is $49.00 – $95.00. Based on these forecasts, analysts predict Madison Square Garden Entertainment Corp. (MSGE) will achieve an average price target of $65.83.


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