Jefferies Group LLC Lowers MSG Networks Inc. (MSGN) Price Target to $19.00
Several other equities analysts have also weighed in on the company. Zacks Investment Research lowered MSG Networks from a hold rating to a sell rating in a research note on Saturday, July 15th. ValuEngine lowered MSG Networks from a strong-buy rating to a buy rating in a research note on Friday, September 1st. Loop Capital raised MSG Networks from a hold rating to a buy rating and set a $19.00 price objective on the stock in a research note on Wednesday, October 11th. KeyCorp reaffirmed a hold rating on shares of MSG Networks in a research note on Tuesday, October 17th. Finally, FBN Securities raised MSG Networks from a sector perform rating to an outperform rating in a research note on Wednesday, August 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $23.86.
MSG Networks (NYSE:MSGN) traded down $0.04 on Friday, reaching $17.11. 106,711 shares of the company traded hands, compared to its average volume of 700,551. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of -1.35. The company has a market capitalization of $1,280.20, a P/E ratio of 7.71, a P/E/G ratio of 1.87 and a beta of 0.74.
MSG Networks (NYSE:MSGN) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $157.46 million during the quarter, compared to analysts’ expectations of $157.21 million. MSG Networks had a negative return on equity of 17.40% and a net margin of 24.77%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. equities research analysts predict that MSG Networks will post 2.18 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in MSG Networks by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,667,275 shares of the company’s stock worth $149,681,000 after acquiring an additional 360,354 shares in the last quarter. BlackRock Inc. lifted its position in MSG Networks by 33,563.0% during the 1st quarter. BlackRock Inc. now owns 3,898,845 shares of the company’s stock worth $91,038,000 after acquiring an additional 3,887,263 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in MSG Networks by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,080,073 shares of the company’s stock worth $46,698,000 after acquiring an additional 127,441 shares in the last quarter. State Street Corp lifted its position in MSG Networks by 5.3% during the 2nd quarter. State Street Corp now owns 1,304,687 shares of the company’s stock worth $29,290,000 after acquiring an additional 66,007 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in MSG Networks by 37.9% during the 2nd quarter. American Century Companies Inc. now owns 1,302,569 shares of the company’s stock worth $29,243,000 after acquiring an additional 358,009 shares in the last quarter. 77.33% of the stock is currently owned by hedge funds and other institutional investors.
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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