The upcoming report from Madison Square Garden Entertainment (MSGE) is expected to reveal quarterly loss of -$0.63 per share, indicating a decline of 144.7% compared to the year-ago period. Analysts forecast revenues of $155.01 million, representing a decline of 16.7% year over year.
The consensus EPS estimate for the quarter has undergone a downward revision of 2.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some MSG Entertainment metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts expect 'Revenues- Total revenues from contracts with customers' to come in at $149.94 million. The estimate suggests a change of -15.6% year over year.
The combined assessment of analysts suggests that 'Revenues- Food, beverage and merchandise revenues' will likely reach $25.09 million. The estimate indicates a year-over-year change of -27.7%.
The consensus estimate for 'Revenues- Arena license fees and other leasing revenue' stands at $5.04 million. The estimate indicates a year-over-year change of -40.6%.
View all Key Company Metrics for MSG Entertainment here>>>
Over the past month, MSG Entertainment shares have recorded returns of -2.8% versus the Zacks S&P 500 composite's +1.9% change. Based on its Zacks Rank #4 (Sell), MSGE will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Madison Square Garden Entertainment Corp. (MSGE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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