Last Updated: 10 Nov 2024
Executive Summary
Madison Square Garden Entertainment Corp. (MSGE) is a leading entertainment company that owns and operates a portfolio of iconic venues and attractions in New York City and around the world. The company's stock has performed well in recent years, driven by strong financial performance and positive analyst sentiment.
Company Overview
MSGE operates a diverse portfolio of businesses, including:
Madison Square Garden: The world's most famous arena, hosting a wide range of events including concerts, sporting events, and family shows.
Radio City Music Hall: A legendary venue known for its Christmas Spectacular and other live performances.
MSG Networks: A regional sports network that broadcasts live events from the New York Knicks, Rangers, and Islanders.
Tao Group: A global hospitality group that operates upscale restaurants and nightclubs.
Fundamental Analysis
MSGE's financial performance has been strong in recent years. In fiscal 2023, the company reported revenue of $959 million and EBITDA of $180 million. The company's profit margin was 15%, and its return on assets was 5.3%.
MSGE's earnings per share (EPS) have grown at a compound annual growth rate (CAGR) of 10% over the past five years. The company's EPS is expected to grow by 15% in fiscal 2024.
Technical Analysis
MSGE's stock price has been trading in a range between $28.54 and $44.14 over the past 52 weeks. The stock is currently trading at $39.15, which is above its 50-day and 200-day moving averages.
The stock's relative strength index (RSI) is currently at 55, which indicates that it is neither overbought nor oversold. The stock's moving average convergence divergence (MACD) is also positive, which indicates that the stock is in an uptrend.
Short Term Outlook
In the short term, MSGE's stock price is likely to continue to trade in a range between $35 and $45. The stock's technical indicators are positive, and the company's financial performance is expected to remain strong.
Long Term Outlook
In the long term, MSGE's stock price is likely to continue to rise. The company's portfolio of iconic venues and attractions is a valuable asset, and the company's management team has a proven track record of success.
Analyst Recommendations
Analysts are generally positive on MSGE's stock. The consensus analyst rating is "Buy," with a target price of $47.50. Two analysts have a "Strong Buy" rating, three have a "Buy" rating, and three have a "Hold" rating.
