MSG Networks Inc. (MSG) Stock Rating Reaffirmed by Albert Fried & Company
MSG Networks Inc. (NYSE:MSG)‘s stock had its “hold” rating restated by equities researchers at Albert Fried & Company in a research note issued to investors on Wednesday.
Several other analysts also recently weighed in on MSG. Zacks Investment Research upgraded MSG Networks from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Friday, October 14th. TheStreet initiated coverage on MSG Networks in a report on Wednesday, October 19th. They issued a “hold” rating for the company. Loop Capital downgraded MSG Networks from a “hold” rating to a “sell” rating in a report on Friday, December 16th. Finally, Guggenheim upgraded MSG Networks from a “neutral” rating to a “buy” rating in a report on Saturday, December 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. MSG Networks currently has a consensus rating of “Hold” and an average price target of $197.96.
Shares of MSG Networks (NYSE:MSG) opened at 173.34 on Wednesday. MSG Networks has a one year low of $139.10 and a one year high of $188.80. The stock’s 50 day moving average is $174.23 and its 200-day moving average is $174.12. The stock’s market cap is $4.15 billion.
MSG Networks (NYSE:MSG) last released its earnings results on Friday, November 4th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.15) by $0.04. The firm earned $181.70 million during the quarter, compared to analyst estimates of $167.95 million. During the same period last year, the business posted ($0.06) EPS. The company’s revenue was up 20.8% on a year-over-year basis. On average, equities analysts forecast that MSG Networks will post ($0.49) EPS for the current year.
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A number of institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in shares of MSG Networks during the second quarter worth approximately $260,000. Bank of Montreal Can purchased a new position in shares of MSG Networks during the second quarter worth approximately $2,761,000. Markston International LLC increased its position in shares of MSG Networks by 29.3% in the second quarter. Markston International LLC now owns 63,086 shares of the company’s stock worth $10,883,000 after buying an additional 14,314 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of MSG Networks by 0.5% in the second quarter. Gamco Investors INC. ET AL now owns 930,735 shares of the company’s stock worth $160,561,000 after buying an additional 5,007 shares in the last quarter. Finally, Gabelli Funds LLC increased its position in shares of MSG Networks by 0.3% in the second quarter. Gabelli Funds LLC now owns 537,800 shares of the company’s stock worth $92,776,000 after buying an additional 1,869 shares in the last quarter. Institutional investors and hedge funds own 86.53% of the company’s stock.
About MSG Networks
The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.
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