ValuEngine upgraded shares of MSG Networks Inc. (NYSE:MSGN) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

Several other research firms have also issued reports on MSGN. BidaskClub raised MSG Networks from a hold rating to a buy rating in a research note on Friday, June 30th. Jefferies Group LLC reaffirmed a hold rating and issued a $22.00 target price on shares of MSG Networks in a research report on Monday, August 14th. Loop Capital raised MSG Networks from a sell rating to a hold rating and set a $19.00 target price for the company in a research report on Monday, August 7th. Zacks Investment Research lowered shares of MSG Networks from a hold rating to a sell rating in a research note on Saturday, July 15th. Finally, FBN Securities upgraded shares of MSG Networks from a sector perform rating to an outperform rating in a research note on Wednesday, August 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $25.00.

MSG Networks (MSGN) opened at 21.30 on Monday. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 9.60 and a beta of 0.76. MSG Networks has a 12 month low of $18.20 and a 12 month high of $25.30. The stock’s 50 day moving average is $20.99 and its 200-day moving average is $22.32.

MSG Networks (NYSE:MSGN) last announced its quarterly earnings results on Wednesday, August 16th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $162.90 million during the quarter, compared to analysts’ expectations of $161.91 million. MSG Networks had a net margin of 24.78% and a negative return on equity of 16.56%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. On average, equities research analysts expect that MSG Networks will post $2.20 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of MSGN. Dynamic Technology Lab Private Ltd raised its position in MSG Networks by 36.8% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 13,968 shares of the company’s stock valued at $314,000 after purchasing an additional 3,758 shares in the last quarter. Koch Industries Inc. purchased a new position in shares of MSG Networks in the 2nd quarter valued at about $213,000. Americafirst Capital Management LLC purchased a new position in shares of MSG Networks in the 2nd quarter valued at about $161,000. CNH Partners LLC boosted its stake in shares of MSG Networks by 10.7% in the 2nd quarter. CNH Partners LLC now owns 1,251,805 shares of the company’s stock valued at $28,103,000 after buying an additional 121,247 shares during the period. Finally, State Street Corp boosted its stake in shares of MSG Networks by 5.3% in the 2nd quarter. State Street Corp now owns 1,304,687 shares of the company’s stock valued at $29,290,000 after buying an additional 66,007 shares during the period. Institutional investors own 76.95% of the company’s stock.

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.

Analyst Recommendations for MSG Networks (NYSE:MSGN)

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