Analyst Expects Madison Square Garden Entertainment Corp. (NYSE: MSGE) To Make Big Moves

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Earlier, Yahoo Finance discussed this stock as it revealed MADISON SQUARE GARDEN ENTERTAINMENT CORP. REPORTS FISCAL 2024 SECOND QUARTER RESULTS.

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Stocks Info

As a NYSE listed company, MSGE falls under the Consumer Cyclical sector while operating within the Leisure industry segment. The current market capitalization of Madison Square Garden Entertainment Corp. is $1.77B. A total of 0.64 million shares were traded on the day, compared to an average of 528.88K shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, MSGE has seen 0 BUY and 0 SELL insider trades, representing the acquisition of 0 and the disposition of 0 shares. Over the last 12 months, there were 54 BUYs and 24 SELLs from insiders. Insiders purchased 1,235,841 shares during that period but sold 17,128,008.

In the most recent transaction, Sphere Entertainment Co. sold 8,221,188 shares of MSGE for 31.20 per share on Sep 22. After the transaction, the 10% Owner now owns 0 company shares. In a previous transaction on Jun 27, DOLAN THOMAS CHARLES bought 322,580 shares at 31.00 per share. MSGE shares that Member of 13(d) Group owns now total 369,708.

Among the insiders who sold shares, Sphere Entertainment Co. disposed of 6,877,553 shares on Jun 27 at a per-share price of $29.76. This resulted in the 10% Owner holding 10,143,938 shares of MSGE after the transaction. In another insider transaction, Thomas Isiah III sold 931 shares at $58.48 per share on Mar 09. Company shares held by the Director now total 0.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for MSGE in the last 3 months, the mean price target is $41.43 with high estimates of $45.00 and low estimates of $36.00. In terms of 52-week highs and lows, MSGE has a high of $40.81 and a low of $27.55.

As of this writing, MSGE has an earnings estimate of $0.26 per share for the current quarter. EPS was calculated based on a consensus of 7 estimates, with a high estimate of $0.34 per share and a lower estimate of $0.2. The company reported an EPS of -$0.96 in the last quarter, which was -95.90% lower than expectations of -$0.49.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. MSGE’s latest balance sheet shows that the firm has $58.10M in Cash & Short Term Investments as of fiscal 2022. There were $956.79M in debt and $545.09M in liabilities at the time. Its Book Value Per Share was -$2.13, while its Total Shareholder’s Equity was -$1.59M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for MSGE is Buy with a score of 4.14.

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