MSG Networks (NYSE:MSGN) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other analysts have also recently weighed in on MSGN. Loop Capital raised shares of MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, October 11th. KeyCorp reissued a “hold” rating on shares of MSG Networks in a research note on Tuesday, October 17th. Zacks Investment Research cut shares of MSG Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Morgan Stanley cut shares of MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 price objective on the stock. in a research note on Tuesday, October 31st. Finally, Jefferies Group reduced their price objective on shares of MSG Networks from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $25.00.

MSG Networks (MSGN) opened at $25.80 on Friday. The stock has a market cap of $1,941.04, a P/E ratio of 11.27, a P/E/G ratio of 259.43 and a beta of 0.77. The company has a debt-to-equity ratio of -1.35, a current ratio of 2.75 and a quick ratio of 2.75. MSG Networks has a one year low of $16.15 and a one year high of $26.30.

MSG Networks (NYSE:MSGN) last posted its earnings results on Thursday, February 1st. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.11. The firm had revenue of $181.20 million for the quarter, compared to analysts’ expectations of $179.73 million. MSG Networks had a net margin of 40.97% and a negative return on equity of 18.48%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. equities analysts anticipate that MSG Networks will post 2.27 EPS for the current fiscal year.

MSG Networks announced that its Board of Directors has authorized a stock repurchase program on Friday, December 8th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Several institutional investors have recently modified their holdings of MSGN. Schwab Charles Investment Management Inc. grew its stake in shares of MSG Networks by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 253,057 shares of the company’s stock worth $5,682,000 after purchasing an additional 2,307 shares during the last quarter. Legal & General Group Plc lifted its holdings in MSG Networks by 1.7% in the second quarter. Legal & General Group Plc now owns 24,804 shares of the company’s stock valued at $557,000 after buying an additional 408 shares during the period. Principal Financial Group Inc. lifted its holdings in MSG Networks by 153.4% in the second quarter. Principal Financial Group Inc. now owns 37,767 shares of the company’s stock valued at $848,000 after buying an additional 22,863 shares during the period. Ameriprise Financial Inc. lifted its holdings in MSG Networks by 18.6% in the second quarter. Ameriprise Financial Inc. now owns 22,777 shares of the company’s stock valued at $512,000 after buying an additional 3,572 shares during the period. Finally, Nationwide Fund Advisors lifted its holdings in MSG Networks by 21.2% in the second quarter. Nationwide Fund Advisors now owns 41,997 shares of the company’s stock valued at $943,000 after buying an additional 7,352 shares during the period. 80.35% of the stock is currently owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for MSG Networks (NYSE:MSGN)

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