MSG Networks Inc. (NYSE:MSGN)‘s stock had its “hold” rating reissued by analysts at KeyCorp in a research report issued on Tuesday, October 17th.
MSGN has been the topic of a number of other reports. Jefferies Group LLC reissued a “hold” rating and issued a $22.00 price objective on shares of MSG Networks in a research report on Thursday, September 21st. FBN Securities raised shares of MSG Networks from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 30th. Zacks Investment Research lowered shares of MSG Networks from a “hold” rating to a “sell” rating in a research report on Saturday, July 15th. ValuEngine upgraded shares of MSG Networks from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Loop Capital upgraded shares of MSG Networks from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $24.86.
MSG Networks (MSGN) traded down 1.25% during midday trading on Tuesday, hitting $19.70. The stock had a trading volume of 445,321 shares. The company’s 50 day moving average price is $20.96 and its 200-day moving average price is $21.88. MSG Networks has a 52 week low of $18.50 and a 52 week high of $25.30. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 8.88 and a beta of 0.76.
MSG Networks (NYSE:MSGN) last announced its earnings results on Wednesday, August 16th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $162.90 million for 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%. During the same period in the prior year, the company earned $0.57 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. Equities analysts anticipate that MSG Networks will post $2.20 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in MSG Networks by 827.6% during the first quarter. Russell Investments Group Ltd. now owns 70,527 shares of the company’s stock valued at $1,646,000 after acquiring an additional 62,924 shares during the last quarter. Bank of New York Mellon Corp lifted its position in MSG Networks by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 399,052 shares of the company’s stock valued at $9,318,000 after acquiring an additional 19,685 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in MSG Networks by 61.9% during the first quarter. UBS Asset Management Americas Inc. now owns 24,274 shares of the company’s stock valued at $567,000 after acquiring an additional 9,282 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in MSG Networks by 17.5% during the first quarter. Parametric Portfolio Associates LLC now owns 55,565 shares of the company’s stock valued at $1,297,000 after acquiring an additional 8,282 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in MSG Networks during the first quarter valued at approximately $120,000. Hedge funds and other institutional investors own 77.17% of the company’s stock.
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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