Madison Square Garden Entertainment Corp. [NYSE: MSGE] stock went on a downward path that fall over -9.87% on Friday, amounting to a one-week price decrease of less than -16.76%. The company report on March 26, 2021 that MSG Entertainment to Acquire MSG Networks.
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The one-year Madison Square Garden Entertainment Corp. stock forecast points to a potential upside of 21.51. The average equity rating for MSGE stock is currently 1.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.27 billion, with 24.15 million shares outstanding and 14.41 million shares in the current float. Compared to the average trading volume of 256.66K shares, MSGE stock reached a trading volume of 1809102 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Madison Square Garden Entertainment Corp. [MSGE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MSGE shares is $107.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MSGE stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Madison Square Garden Entertainment Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 16, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on October 06, 2020, representing the official price target for Madison Square Garden Entertainment Corp. stock.
The Average True Range (ATR) for Madison Square Garden Entertainment Corp. is set at 5.79, with the Price to Sales ratio for MSGE stock in the period of the last 12 months amounting to 9.93. The Price to Book ratio for the last quarter was 0.76, with the Price to Cash per share for the same quarter was set at 54.18.
MSGE Stock Performance Analysis:
Madison Square Garden Entertainment Corp. [MSGE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.76. With this latest performance, MSGE shares dropped by -15.93% in over the last four-week period, additionally plugging by 27.23% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MSGE stock in for the last two-week period is set at 30.09, with the RSI for the last a single of trading hit 22.18, and the three-weeks RSI is set at 35.82 for Madison Square Garden Entertainment Corp. [MSGE]. The present Moving Average for the last 50 days of trading for this stock 100.71, while it was recorded at 92.77 for the last single week of trading, and 81.94 for the last 200 days.
Insight into Madison Square Garden Entertainment Corp. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Madison Square Garden Entertainment Corp. [MSGE] shares currently have an operating margin of -25.36 and a Gross Margin at +19.65. Madison Square Garden Entertainment Corp.’s Net Margin is presently recorded at +2.26.
Return on Total Capital for MSGE is now -6.62, given the latest momentum, and Return on Invested Capital for the company is 0.61. Return on Equity for this stock inclined to 0.64, with Return on Assets sitting at 0.48. When it comes to the capital structure of this company, Madison Square Garden Entertainment Corp. [MSGE] has a Total Debt to Total Equity ratio set at 9.19. Additionally, MSGE Total Debt to Total Capital is recorded at 8.42, with Total Debt to Total Assets ending up at 6.85. Long-Term Debt to Equity for the company is recorded at 7.12, with the Long-Term Debt to Total Capital now at 6.52.
Reflecting on the efficiency of the workforce at the company, Madison Square Garden Entertainment Corp. [MSGE] managed to generate an average of $2,268 per employee. Receivables Turnover for the company is 8.78 with a Total Asset Turnover recorded at a value of 0.21.Madison Square Garden Entertainment Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.50.
MSGE Stock EPS
With the latest financial reports released by the company, Madison Square Garden Entertainment Corp. posted -5.36/share EPS, while the average EPS was predicted by analysts to be reported at -2.4/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -123.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MSGE.
Madison Square Garden Entertainment Corp. [MSGE] Insider Position Details
There are presently around $1,405 million, or 85.00% of MSGE stock, in the hands of institutional investors. The top three institutional holders of MSGE stocks are: ARIEL INVESTMENTS, LLC with ownership of 2,107,380, which is approximately 31.907% of the company’s market cap and around 3.46% of the total institutional ownership; VANGUARD GROUP INC, holding 1,710,059 shares of the stock with an approximate value of $144.79 million in MSGE stocks shares; and CLEARBRIDGE INVESTMENTS, LLC, currently with $77.86 million in MSGE stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Madison Square Garden Entertainment Corp. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 122 institutional holders increased their position in Madison Square Garden Entertainment Corp. [NYSE:MSGE] by around 3,414,407 shares. Additionally, 99 investors decreased positions by around 4,578,100 shares, while 53 investors held positions by with 8,606,720 shares. The mentioned changes placed institutional holdings at 16,599,227 shares, according to the latest SEC report filing. MSGE stock had 51 new institutional investments in for a total of 976,807 shares, while 44 institutional investors sold positions of 3,375,169 shares during the same period.