Madison Square Garden Entertainment Corp. (NYSE:MSGE) Expected to Announce Quarterly Sales of $42.93 Million

Equities analysts expect Madison Square Garden Entertainment Corp. (NYSE:MSGE) to post sales of $42.93 million for the current quarter, according to Zacks. Three analysts have issued estimates for Madison Square Garden Entertainment’s earnings, with the lowest sales estimate coming in at $14.30 million and the highest estimate coming in at $69.00 million. The company is expected to issue its next quarterly earnings results on Friday, November 13th.

According to Zacks, analysts expect that Madison Square Garden Entertainment will report full-year sales of $637.15 million for the current year, with estimates ranging from $173.20 million to $1.11 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.09 billion, with estimates ranging from $882.80 million to $1.39 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Madison Square Garden Entertainment.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its earnings results on Friday, August 14th. The company reported ($2.52) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($4.97) by $2.45. The company had revenue of $9.00 million for the quarter, compared to the consensus estimate of $18.08 million.

Separately, Berenberg Bank assumed coverage on shares of Madison Square Garden Entertainment in a report on Wednesday. They issued a “buy” rating on the stock.

Madison Square Garden Entertainment stock traded up $0.01 on Wednesday, hitting $68.49. The company’s stock had a trading volume of 108,814 shares, compared to its average volume of 221,440. The firm has a market capitalization of $1.65 billion and a PE ratio of -18.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.80 and a quick ratio of 2.80. Madison Square Garden Entertainment has a one year low of $58.67 and a one year high of $172.47.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball, professional bull riding, mixed martial arts, and esports in its venues, including New York's Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre, and The Chicago Theatre.

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