MSG Networks (NYSE:MSGN) had its price objective increased by Imperial Capital to $32.00 in a research note released on Friday, The Fly reports. They currently have an outperform rating on the stock. Imperial Capital also issued estimates for MSG Networks’ Q1 2019 earnings at $0.62 EPS, Q2 2019 earnings at $0.63 EPS, Q4 2019 earnings at $0.68 EPS, FY2019 earnings at $2.63 EPS and FY2020 earnings at $2.76 EPS. The analysts noted that the move was a valuation call.
MSGN has been the subject of several other reports. ValuEngine downgraded shares of MSG Networks from a sell rating to a strong sell rating in a research report on Thursday, July 12th. Zacks Investment Research upgraded shares of MSG Networks from a hold rating to a buy rating and set a $27.00 price objective for the company in a research report on Thursday, July 5th. Finally, Jefferies Financial Group restated a hold rating and set a $23.00 price objective on shares of MSG Networks in a research report on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. MSG Networks has a consensus rating of Hold and a consensus price target of $27.33.
Shares of MSGN opened at $26.51 on Friday. MSG Networks has a one year low of $16.15 and a one year high of $27.50. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 6.96, a PEG ratio of 1.23 and a beta of 0.78. The company has a debt-to-equity ratio of -1.70, a current ratio of 3.04 and a quick ratio of 3.04.
MSG Networks (NYSE:MSGN) last announced its quarterly earnings data on Wednesday, August 15th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. MSG Networks had a net margin of 41.46% and a negative return on equity of 24.41%. The business had revenue of $171.40 million during the quarter, compared to the consensus estimate of $166.01 million. During the same period in the previous year, the business earned $0.52 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that MSG Networks will post 2.57 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Tributary Capital Management LLC increased its holdings in shares of MSG Networks by 8.6% during the second quarter. Tributary Capital Management LLC now owns 631,541 shares of the company’s stock worth $15,125,000 after buying an additional 49,948 shares in the last quarter. Bowling Portfolio Management LLC acquired a new position in shares of MSG Networks during the second quarter worth $2,135,000. Bank of New York Mellon Corp increased its holdings in shares of MSG Networks by 30.2% during the second quarter. Bank of New York Mellon Corp now owns 620,621 shares of the company’s stock worth $14,864,000 after buying an additional 144,017 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of MSG Networks by 0.6% during the second quarter. Gabelli Funds LLC now owns 1,411,600 shares of the company’s stock worth $33,808,000 after buying an additional 9,000 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of MSG Networks during the second quarter worth $8,675,000. Institutional investors and hedge funds own 83.99% of the company’s stock.
About MSG Networks
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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