MSG Networks Inc (NYSE:MSGN) has been assigned an average rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $27.00.

A number of brokerages recently issued reports on MSGN. Zacks Investment Research downgraded MSG Networks from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 price objective on shares of MSG Networks in a research report on Friday, August 17th. Finally, Imperial Capital began coverage on MSG Networks in a research report on Tuesday, August 21st. They issued an “outperform” rating and a $29.00 price objective on the stock.

Shares of NYSE:MSGN traded down $0.85 during trading on Monday, hitting $25.24. 326,200 shares of the company were exchanged, compared to its average volume of 462,873. The company has a market cap of $1.95 billion, a P/E ratio of 6.64, a P/E/G ratio of 1.13 and a beta of 0.71. MSG Networks has a 52-week low of $16.45 and a 52-week high of $28.13.

MSG Networks (NYSE:MSGN) last posted its earnings results on Friday, November 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.62. The firm had revenue of $164.46 million for the quarter, compared to the consensus estimate of $162.59 million. MSG Networks had a negative return on equity of 27.90% and a net margin of 41.87%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 earnings per share. Equities analysts forecast that MSG Networks will post 2.57 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of MSG Networks by 6.6% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,448,956 shares of the company’s stock worth $37,383,000 after buying an additional 89,300 shares in the last quarter. MetLife Investment Advisors LLC raised its position in shares of MSG Networks by 37.5% in the third quarter. MetLife Investment Advisors LLC now owns 40,520 shares of the company’s stock worth $1,045,000 after buying an additional 11,042 shares in the last quarter. Verition Fund Management LLC bought a new position in MSG Networks in the third quarter valued at $262,000. Man Group plc increased its stake in MSG Networks by 26.2% in the third quarter. Man Group plc now owns 448,119 shares of the company’s stock valued at $11,561,000 after acquiring an additional 93,133 shares during the last quarter. Finally, BlueMountain Capital Management LLC increased its stake in MSG Networks by 14.3% in the third quarter. BlueMountain Capital Management LLC now owns 29,660 shares of the company’s stock valued at $765,000 after acquiring an additional 3,700 shares during the last quarter. Institutional investors own 87.11% of the company’s stock.

MSG Networks Company Profile

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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Analyst Recommendations for MSG Networks (NYSE:MSGN)

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