MSG Networks Inc. (NYSE:MSGN) has been given an average recommendation of “Hold” by the twelve analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.13.
Several brokerages recently issued reports on MSGN. Loop Capital upgraded shares of MSG Networks from a “sell” rating to a “hold” rating and set a $19.00 price target for the company in a research note on Monday. Evercore ISI restated an “outperform” rating on shares of MSG Networks in a research note on Monday, April 10th. Morgan Stanley lifted their price target on shares of MSG Networks from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Friday, April 28th. Zacks Investment Research lowered shares of MSG Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Finally, Jefferies Group LLC lifted their price target on shares of MSG Networks from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, May 8th.
Large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. bought a new stake in MSG Networks during the first quarter valued at about $120,000. Victory Capital Management Inc. acquired a new stake in shares of MSG Networks during the first quarter valued at $146,000. Russell Investments Group Ltd. acquired a new stake in shares of MSG Networks during the fourth quarter valued at $162,000. Dubuque Bank & Trust Co. purchased a new position in MSG Networks during the first quarter worth $180,000. Finally, BNP Paribas Arbitrage SA boosted its position in MSG Networks by 177.6% in the second quarter. BNP Paribas Arbitrage SA now owns 8,347 shares of the company’s stock worth $187,000 after buying an additional 5,340 shares during the period. Hedge funds and other institutional investors own 78.26% of the company’s stock.
MSG Networks (NYSE:MSGN) opened at 20.95 on Tuesday. MSG Networks has a one year low of $15.11 and a one year high of $25.30. The stock has a 50 day moving average price of $22.10 and a 200 day moving average price of $22.56. The firm has a market capitalization of $1.57 billion, a P/E ratio of 8.98 and a beta of 0.78.
MSG Networks (NYSE:MSGN) last issued its quarterly earnings results on Friday, May 5th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The business had revenue of $183.20 million during the quarter, compared to the consensus estimate of $182.81 million. MSG Networks had a negative return on equity of 16.20% and a net margin of 26.21%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. On average, equities analysts predict that MSG Networks will post $2.20 EPS for the current fiscal year.
MSG Networks Company Profile
MSG Networks Inc, formerly The Madison Square Garden Company, is engaged in sports production, and content development and distribution. The Company owns and operates two regional sports and entertainment networks, MSG Network (MSGN) and MSG+, collectively MSG Networks. Its networks are distributed throughout its territory, which includes all of New York State and significant portions of New Jersey and Connecticut, as well as parts of Pennsylvania.
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