Evercore ISI lowered shares of MSG Networks (NYSE:MSGN) from an in-line rating to an underperform rating in a research note published on Wednesday, BenzingaRatingsTable reports.

Several other analysts also recently commented on MSGN. Zacks Investment Research raised shares of MSG Networks from a sell rating to a hold rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. downgraded shares of MSG Networks from a neutral rating to an underweight rating and cut their price objective for the company from $23.00 to $19.00 in a research report on Friday, July 19th. Rosenblatt Securities set a $23.00 price objective on shares of MSG Networks and gave the company a hold rating in a research report on Thursday, June 20th. ValuEngine downgraded shares of MSG Networks from a sell rating to a strong sell rating in a research report on Wednesday, June 26th. Finally, Morgan Stanley cut their price objective on shares of MSG Networks from $20.00 to $17.00 and set an underweight rating on the stock in a research report on Thursday, August 15th. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $18.64.

Shares of MSGN stock opened at $14.03 on Wednesday. MSG Networks has a one year low of $13.99 and a one year high of $28.13. The company’s 50-day moving average is $18.82 and its 200 day moving average is $21.39. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 5.92, a price-to-earnings-growth ratio of 1.79 and a beta of 0.72.

MSG Networks (NYSE:MSGN) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.07). MSG Networks had a net margin of 25.83% and a negative return on equity of 34.89%. The firm had revenue of $168.36 million for the quarter, compared to analysts’ expectations of $170.87 million. During the same period last year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, analysts anticipate that MSG Networks will post 2.43 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of MSG Networks by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,434,861 shares of the company’s stock valued at $133,460,000 after acquiring an additional 146,627 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of MSG Networks by 1.9% during the 2nd quarter. BlackRock Inc. now owns 5,284,967 shares of the company’s stock valued at $109,610,000 after acquiring an additional 97,415 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of MSG Networks by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 4,068,197 shares of the company’s stock valued at $88,483,000 after acquiring an additional 25,685 shares during the last quarter. Alberta Investment Management Corp boosted its holdings in shares of MSG Networks by 10.5% during the 2nd quarter. Alberta Investment Management Corp now owns 1,637,056 shares of the company’s stock valued at $33,953,000 after acquiring an additional 156,100 shares during the last quarter. Finally, Gabelli Funds LLC boosted its holdings in shares of MSG Networks by 0.5% during the 1st quarter. Gabelli Funds LLC now owns 1,415,900 shares of the company’s stock valued at $30,796,000 after acquiring an additional 7,500 shares during the last quarter. 87.91% of the stock is currently owned by hedge funds and other 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.

Further Reading: Average Daily Trade Volume – ADTV

Analyst Recommendations for MSG Networks (NYSE:MSGN)

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