Zacks Investment Research Upgrades MSG Entertainment (NASDAQ:MSGE) to Hold

MSG Entertainment (NASDAQ:MSGE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Madison Square Garden Entertainment Corp. provides entertainment experiences. The Company presents or hosts events in its diverse collection of venues: New York’s Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre; the Forum in Inglewood, CA and The Chicago Theatre. Also under the MSG Entertainment umbrella is Tao Group Hospitality, with entertainment dining and nightlife brands including Tao, Marquee, Lavo, Avenue, Beauty & Essex and Cath├ędrale. Madison Square Garden Entertainment Corp. is based in NEW YORK. “

A number of other brokerages have also issued reports on MSGE. Oppenheimer initiated coverage on MSG Entertainment in a research note on Monday, April 20th. They set an “outperform” rating and a $105.00 price target for the company. Gabelli assumed coverage on MSG Entertainment in a research report on Monday, April 27th. They set a “buy” rating for the company. Macquarie assumed coverage on MSG Entertainment in a research report on Tuesday, April 28th. They set an “outperform” rating and a $115.00 price objective for the company. Finally, Guggenheim assumed coverage on MSG Entertainment in a research report on Wednesday, June 17th. They set a “buy” rating and a $116.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. MSG Entertainment has an average rating of “Buy” and a consensus price target of $108.20.

Shares of NASDAQ MSGE opened at $72.68 on Thursday. The firm’s fifty day moving average price is $77.68. MSG Entertainment has a 1 year low of $58.67 and a 1 year high of $172.47.

MSG Entertainment (NASDAQ:MSGE) last issued its quarterly earnings results on Monday, May 18th. The company reported ($5.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.15) by ($1.21). The business had revenue of $199.90 million during the quarter, compared to analysts’ expectations of $36.95 million. MSG Entertainment’s revenue for the quarter was down 20.0% compared to the same quarter last year.

In related news, SVP Joseph F. Yospe sold 6,450 shares of MSG Entertainment stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $76.39, for a total transaction of $492,715.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

MSG Entertainment Company Profile

There is no company description available for Madison Square Garden Entertainment Corp.

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Analyst Recommendations for MSG Entertainment (NASDAQ:MSGE)

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