A correction may be in store for Madison Square Garden Entertainment Corp. (NYSE:MSGE) shares?

As of close of business last night, Madison Square Garden Entertainment Corp.’s stock clocked out at $45.66, up 2.47% from its previous closing price of $44.56. In other words, the price has increased by $+1.10 from its previous closing price. On the day, 178811 shares were traded. MSGE stock price reached its highest trading level at $46.13 during the session, while it also had its lowest trading level at $44.30.

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Ratios:

To gain a deeper understanding of MSGE’s stock, we examine its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 0.90 and its Current Ratio is at 0.90. In the meantime, Its Debt-to-Equity ratio is 0.91 whereas as Long-Term Debt/Eq ratio is at 0.87.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Jefferies on November 15, 2022, Downgraded its rating to Hold and sets its target price to $49 from $100 previously.

Insider Transactions:

Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Sep 22 when D’Ambrosio Philip Gerard bought 600 shares for $49.22 per share. The transaction valued at 29,532 led to the insider holds 10,126 shares of the business.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 0.84 while its Price-to-Book (P/B) ratio in mrq is 0.82.

Stock Price History:

Over the past 52 weeks, MSGE has reached a high of $84.57, while it has fallen to a 52-week low of $38.98. The 50-Day Moving Average of the stock is 47.06, while the 200-Day Moving Average is calculated to be 61.80.

Shares Statistics:

It appears that MSGE traded 198.74K shares on average per day over the past three months and 289.33k shares per day over the past ten days. A total of 34.40M shares are outstanding, with a floating share count of 24.43M. Insiders hold about 0.30% of the company’s shares, while institutions hold 92.10% stake in the company. Shares short for MSGE as of Oct 13, 2022 were 1.53M with a Short Ratio of 1.77M, compared to 1.29M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 4.46% and a Short% of Float of 7.44%.

Earnings Estimates

As of right now, 6 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of -$0.97 for the current quarter, with a high estimate of -$0.5 and a low estimate of -$1.47, while EPS last year was -$2.55. The consensus estimate for the next quarter is $1.45, with high estimates of $2.68 and low estimates of $0.83.

Analysts are recommending an EPS of between -$0.18 and -$2.15 for the fiscal current year, implying an average EPS of -$0.94. EPS for the following year is $1, with 6 analysts recommending between $3.3 and -$1.03.

Revenue Estimates

A total of 7 analysts have provided revenue estimates for MSGE’s current fiscal year. The highest revenue estimate was $2.02B, while the lowest revenue estimate was $1.87B, resulting in an average revenue estimate of $1.94B. In the same quarter a year ago, actual revenue was $1.72B, up 12.70% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $2.34B in the next fiscal year. The high estimate is $2.63B and the low estimate is $2.06B. The average revenue growth estimate for next year is up 20.50% from the average revenue estimate for this year.