MSG Networks Inc (MSGN) Receives $23.86 Consensus Price Target from Analysts
Shares of MSG Networks Inc (NYSE:MSGN) have been given a consensus rating of “Hold” by the thirteen research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $23.86.
Several equities analysts recently commented on the company. Morgan Stanley cut MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 target price for the company. in a research report on Tuesday, October 31st. Loop Capital upgraded MSG Networks from a “sell” rating to a “hold” rating and set a $19.00 target price for the company in a research report on Monday, August 7th. Jefferies Group reduced their target price on MSG Networks from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, November 3rd. KeyCorp restated a “hold” rating on shares of MSG Networks in a research report on Tuesday, October 17th. Finally, ValuEngine cut MSG Networks from a “buy” rating to a “hold” rating in a research report on Monday, September 18th.
A number of hedge funds have recently modified their holdings of MSGN. BlackRock Inc. lifted its stake in MSG Networks by 33,563.0% during the first quarter. BlackRock Inc. now owns 3,898,845 shares of the company’s stock worth $91,038,000 after purchasing an additional 3,887,263 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in MSG Networks by 2,476.2% during the second quarter. Neuberger Berman Group LLC now owns 1,017,985 shares of the company’s stock worth $22,854,000 after purchasing an additional 978,470 shares during the last quarter. Vanguard Group Inc. lifted its stake in MSG Networks by 5.7% during the second quarter. Vanguard Group Inc. now owns 6,667,275 shares of the company’s stock worth $149,681,000 after purchasing an additional 360,354 shares during the last quarter. American Century Companies Inc. lifted its stake in MSG Networks by 37.9% during the second quarter. American Century Companies Inc. now owns 1,302,569 shares of the company’s stock worth $29,243,000 after purchasing an additional 358,009 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its stake in MSG Networks by 108.7% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 673,448 shares of the company’s stock worth $14,277,000 after purchasing an additional 350,696 shares during the last quarter. 81.75% of the stock is owned by hedge funds and other institutional investors.
MSG Networks (MSGN) traded down $0.35 during trading on Monday, reaching $17.85. The company had a trading volume of 580,894 shares, compared to its average volume of 558,758. MSG Networks has a twelve month low of $16.15 and a twelve month high of $25.30. The company has a debt-to-equity ratio of -1.35, a quick ratio of 2.75 and a current ratio of 2.75. The stock has a market capitalization of $1,327.88, a PE ratio of 7.99, a price-to-earnings-growth ratio of 9.15 and a beta of 0.74.
MSG Networks (NYSE:MSGN) last posted its earnings results on Thursday, November 2nd. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $157.46 million during the quarter, compared to analysts’ expectations of $157.21 million. During the same period in the previous year, the business earned $0.54 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. equities research analysts predict that MSG Networks will post 2.17 EPS for the current year.
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About MSG Networks
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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