Zacks Investment Research upgraded shares of MSG Networks (NYSE:MSGN) from a sell rating to a hold rating in a research report released on Saturday, Zacks.com reports.

According to Zacks, “MSG Networks Inc. is engaged in production and content development which comprised of sports and entertainment networks, MSG Network and MSG+ as well as MSGNetworks.com and MSG GO. MSG Networks Inc., formerly known as Madison Square Garden Company, is based in New York. “

Several other equities research analysts have also recently commented on the company. Rosenblatt Securities set a $15.00 price objective on MSG Networks and gave the company a hold rating in a research report on Wednesday, August 21st. ValuEngine lowered MSG Networks from a sell rating to a strong sell rating in a research report on Wednesday, June 26th. Morgan Stanley lowered their target price on shares of MSG Networks from $17.00 to $16.00 and set an underweight rating on the stock in a research note on Thursday, August 22nd. Evercore ISI downgraded shares of MSG Networks from an in-line rating to an underperform rating in a report on Wednesday, August 21st. Finally, Guggenheim reduced their price target on shares of MSG Networks from $24.00 to $15.00 and set a neutral rating for the company in a research note on Thursday, August 22nd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $18.64.

Shares of MSGN opened at $17.35 on Friday. The business’s fifty day simple moving average is $17.20 and its two-hundred day simple moving average is $20.75. MSG Networks has a 12 month low of $13.73 and a 12 month high of $28.13. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 7.05 and a beta of 0.72.

MSG Networks (NYSE:MSGN) last posted its earnings results on Wednesday, August 21st. The company reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.07). MSG Networks had a negative return on equity of 34.89% and a net margin of 25.83%. The business had revenue of $168.36 million during the quarter, compared to the consensus estimate of $170.87 million. During the same period in the previous year, the business posted $0.60 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities analysts expect that MSG Networks will post 2.57 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Shine Investment Advisory Services Inc. boosted its stake in shares of MSG Networks by 21.5% in the second quarter. Shine Investment Advisory Services Inc. now owns 3,354 shares of the company’s stock worth $70,000 after acquiring an additional 594 shares during the period. First Republic Investment Management Inc. boosted its stake in MSG Networks by 7.4% in the 2nd quarter. First Republic Investment Management Inc. now owns 10,805 shares of the company’s stock worth $224,000 after purchasing an additional 746 shares during the period. HighTower Advisors LLC boosted its stake in MSG Networks by 3.7% in the 2nd quarter. HighTower Advisors LLC now owns 21,226 shares of the company’s stock worth $441,000 after purchasing an additional 767 shares during the period. Jennison Associates LLC grew its holdings in MSG Networks by 2.1% during the 2nd quarter. Jennison Associates LLC now owns 37,612 shares of the company’s stock valued at $780,000 after buying an additional 788 shares in the last quarter. Finally, Resources Investment Advisors LLC. grew its holdings in MSG Networks by 99.4% during the 2nd quarter. Resources Investment Advisors LLC. now owns 2,006 shares of the company’s stock valued at $42,000 after buying an additional 1,000 shares in the last quarter. 85.83% of the stock is owned by institutional investors.

MSG Networks Company Profile

MSG Networks Inc engages in the sports production, and content development and distribution businesses in the United States. The company owns and operates MSG Network and MSG+, which are regional sports and entertainment networks. It also operates MSG GO that provides live streaming and video on demand, as well as a Website and social media platforms for its brands.

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