Madison Square Garden Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Author: Avi Kapoor | August 16, 2024 03:55am

Madison Square Garden Entertainment Corp. (NYSE:MSGE) is expected to release earnings results for its fiscal fourth quarter, before the opening bell on Friday, Aug. 16.

Analysts expect the New York-based company to report a quarterly loss at 52 cents per share, versus a year-ago loss of 47 cents per share. Madison Square Garden Entertainment is projected to report quarterly revenue of $169.61 million, compared to $147.94 million a year earlier, according to data from Benzinga Pro.

On May 10, Madison Square Garden Entertainment said third-quarter revenue rose 13% year-over-year to $228.3 million, beating the analyst consensus of $227.6 million.

Madison Square Garden Entertainment shares gained 2.4% to close at $38.66 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• JP Morgan analyst David Karnovsky maintained a Neutral rating and cut the price target from $38 to $36 on Nov. 8, 2023. This analyst has an accuracy rate of 66%.
• Morgan Stanley analyst Benjamin Swinburne maintained an Equal-Weight rating and slashed the price target from $40 to $36 on Sept. 1, 2023. This analyst has an accuracy rate of 76%.
• Guggenheim analyst Curry Baker maintained a Buy rating and boosted the price target from $41 to $43 on Aug. 23, 2023. This analyst has an accuracy rate of 60%.
• B of A Securities analyst Peter Henderson initiated coverage on the stock with a Buy rating and a price target of $41 on Aug. 22, 2023. This analyst has an accuracy rate of 65%.

Considering buying MSGE stock? Here’s what analysts think:

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Posted In: MSGE