MSG Networks Inc. (MSGN) Given Average Recommendation of “Hold” by Analysts
MSG Networks Inc. (NYSE:MSGN) has been given a consensus rating of “Hold” by the thirteen ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $23.86.
MSGN has been the subject of a number of research reports. FBN Securities upgraded MSG Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 30th. ValuEngine downgraded MSG Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $22.00 price objective on shares of MSG Networks in a report on Monday, August 14th. Zacks Investment Research downgraded MSG Networks from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, KeyCorp reiterated a “hold” rating on shares of MSG Networks in a report on Tuesday, October 17th.
Several large investors have recently modified their holdings of MSGN. Legal & General Group Plc increased its holdings in shares of MSG Networks by 17.6% during the first quarter. Legal & General Group Plc now owns 24,396 shares of the company’s stock valued at $570,000 after acquiring an additional 3,645 shares in the last quarter. Morgan Stanley increased its holdings in shares of MSG Networks by 44.5% during the first quarter. Morgan Stanley now owns 311,207 shares of the company’s stock valued at $7,267,000 after acquiring an additional 95,884 shares in the last quarter. BlackRock Inc. increased its holdings in shares of MSG Networks by 33,563.0% during the first quarter. BlackRock Inc. now owns 3,898,845 shares of the company’s stock valued at $91,038,000 after acquiring an additional 3,887,263 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of MSG Networks by 9.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 250,750 shares of the company’s stock valued at $5,856,000 after buying an additional 20,615 shares during the last quarter. Finally, State Street Corp boosted its position in shares of MSG Networks by 12.7% during the first quarter. State Street Corp now owns 1,238,680 shares of the company’s stock valued at $28,927,000 after buying an additional 139,380 shares during the last quarter. Hedge funds and other institutional investors own 77.50% of the company’s stock.
MSG Networks (MSGN) traded down $0.85 on Monday, reaching $16.65. The company’s stock had a trading volume of 847,596 shares, compared to its average volume of 554,937. The company has a debt-to-equity ratio of -1.35, a quick ratio of 2.75 and a current ratio of 2.75. The company has a market capitalization of $1,316.59, a P/E ratio of 7.92, a price-to-earnings-growth ratio of 9.07 and a beta of 0.74. MSG Networks has a twelve month low of $16.15 and a twelve month high of $25.30.
MSG Networks (NYSE:MSGN) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $157.46 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share. sell-side analysts predict that MSG Networks will post 2.17 EPS for the current fiscal year.
About MSG Networks
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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