Somewhat Positive Press Coverage Somewhat Unlikely to Affect MSG Networks (MSGN) Share Price
Press coverage about MSG Networks (NYSE:MSGN) has trended somewhat positive this week, according to Accern. The research firm ranks the sentiment of press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. MSG Networks earned a media sentiment score of 0.04 on Accern’s scale. Accern also assigned headlines about the company an impact score of 46.8031546297858 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the headlines that may have effected Accern Sentiment Analysis’s analysis:
- MSG Networks (MSGN) Declares Stock Repurchase Plan (americanbankingnews.com)
- MSG Networks Inc. Announces $150 Million Stock Repurchase Program NYSE:MSGN (menafn.com)
- MSG Networks sets a $150 stock buyback program (finance.yahoo.com)
- MSG Networks, Inc. breached its 50 day moving average in a Bullish Manner : MSGN-US : December 5, 2017 (finance.yahoo.com)
MSG Networks (MSGN) opened at $19.65 on Tuesday. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of -1.35. MSG Networks has a twelve month low of $16.15 and a twelve month high of $25.30. The company has a market capitalization of $1,470.82, a P/E ratio of 8.85, a P/E/G ratio of 10.08 and a beta of 0.75.
MSG Networks (NYSE:MSGN) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. MSG Networks had a negative return on equity of 17.40% and a net margin of 24.77%. The company had revenue of $157.46 million for the quarter, compared to analysts’ expectations of $157.21 million. During the same period in the previous year, the firm earned $0.54 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. analysts anticipate that MSG Networks will post 2.18 earnings per share for the current year.
MSG Networks declared that its board has approved a share buyback program on Friday, December 8th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
A number of research analysts recently issued reports on MSGN shares. Jefferies Group cut their price objective on MSG Networks from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Loop Capital upgraded MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, October 11th. ValuEngine downgraded MSG Networks from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. FBN Securities upgraded MSG Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 30th. Finally, Morgan Stanley downgraded MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 price objective for the company. in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $22.20.
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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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