MSG Networks Inc. (NYSE:MSGN)‘s stock had its “hold” rating restated by investment analysts at KeyCorp in a research report issued to clients and investors on Tuesday, October 17th.
Several other equities research analysts also recently weighed in on the company. BidaskClub upgraded MSG Networks from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research downgraded MSG Networks from a “hold” rating to a “sell” rating in a report on Saturday, July 15th. Loop Capital upgraded MSG Networks from a “sell” rating to a “hold” rating and set a $19.00 price target on the stock in a report on Monday, August 7th. FBN Securities upgraded MSG Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 30th. Finally, ValuEngine upgraded MSG Networks from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. MSG Networks has an average rating of “Hold” and a consensus price target of $23.86.
MSG Networks (MSGN) traded up $0.10 during midday trading on Tuesday, hitting $17.15. 744,153 shares of the stock traded hands, compared to its average volume of 700,551. 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 cap of $1,280.20, a PE ratio of 7.71, a price-to-earnings-growth ratio of 1.87 and a beta of 0.74.
MSG Networks (NYSE:MSGN) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The firm had revenue of $157.46 million for the quarter, compared to the consensus estimate of $157.21 million. MSG Networks had a negative return on equity of 17.40% and a net margin of 24.77%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 EPS. sell-side analysts anticipate that MSG Networks will post 2.18 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Chicago Equity Partners LLC boosted its position in shares of MSG Networks by 54.7% during the 3rd quarter. Chicago Equity Partners LLC now owns 119,575 shares of the company’s stock worth $2,535,000 after acquiring an additional 42,275 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its position in shares of MSG Networks by 108.7% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 673,448 shares of the company’s stock worth $14,277,000 after acquiring an additional 350,696 shares in the last quarter. Oxbow Advisors LLC boosted its position in shares of MSG Networks by 239.3% during the 3rd quarter. Oxbow Advisors LLC now owns 121,375 shares of the company’s stock worth $2,573,000 after acquiring an additional 85,605 shares in the last quarter. APG Asset Management N.V. acquired a new position in shares of MSG Networks during the 3rd quarter worth about $3,585,000. Finally, Rockefeller Financial Services Inc. boosted its position 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 worth $148,000 after acquiring an additional 4,650 shares in the last quarter. 77.33% of the stock is owned by institutional investors and hedge funds.
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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