MSG Networks Inc. (MSGN) Price Target Cut to $19.00

MSG Networks Inc. (NYSE:MSGN) had its price objective reduced by investment analysts at Jefferies Group LLC from $22.00 to $19.00 in a research note issued on Friday, November 3rd. The brokerage presently has a “hold” rating on the stock. Jefferies Group LLC’s target price would suggest a potential upside of 8.57% from the stock’s previous close.

A number of other brokerages have also commented on MSGN. Zacks Investment Research lowered MSG Networks from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. ValuEngine lowered MSG Networks from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Loop Capital raised MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, October 11th. KeyCorp reissued a “hold” rating on shares of MSG Networks in a research report on Tuesday, October 17th. Finally, FBN Securities raised MSG Networks from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $23.86.

Shares of MSG Networks (NYSE:MSGN) traded up $0.05 during midday trading on Friday, reaching $17.50. 397,707 shares of the company’s stock were exchanged, compared to its average volume of 555,246. 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 current ratio of 2.75 and a quick ratio of 2.75. The company has a market capitalization of $1,297.79, a PE ratio of 7.81, a P/E/G ratio of 8.94 and a beta of 0.74.

MSG Networks (NYSE:MSGN) last issued its earnings results on Thursday, November 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. MSG Networks had a net margin of 24.77% and a negative return on equity of 17.40%. The firm had revenue of $157.46 million for the quarter, compared to analysts’ expectations of $157.21 million. During the same quarter last year, the business earned $0.54 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. sell-side analysts forecast that MSG Networks will post 2.17 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSGN. Rockefeller Financial Services Inc. grew its stake in shares of MSG Networks by 200.0% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 6,975 shares of the company’s stock valued at $148,000 after purchasing an additional 4,650 shares during the period. Americafirst Capital Management LLC bought a new stake in shares of MSG Networks during the 2nd quarter valued at about $161,000. Victory Capital Management Inc. grew its stake in shares of MSG Networks by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,330 shares of the company’s stock valued at $165,000 after purchasing an additional 1,097 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of MSG Networks by 177.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,347 shares of the company’s stock valued at $187,000 after purchasing an additional 5,340 shares during the period. Finally, Dubuque Bank & Trust Co. grew its stake in shares of MSG Networks by 8.8% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 8,373 shares of the company’s stock valued at $188,000 after purchasing an additional 679 shares during the period. Institutional investors own 77.50% of the company’s stock.

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.

Analyst Recommendations for MSG Networks (NYSE:MSGN)

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