MSG Networks Inc (MSGN) Receives Average Rating of “Buy” from Analysts

MSG Networks Inc (NYSE:MSGN) has received a consensus rating of “Buy” from the twelve research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $25.00.

Several analysts have weighed in on the company. Morgan Stanley downgraded MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 price target on the stock. in a research note on Tuesday, October 31st. ValuEngine downgraded MSG Networks from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Guggenheim boosted their price target on MSG Networks from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Zacks Investment Research downgraded MSG Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Finally, Bank of America boosted their price target on MSG Networks from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th.

Shares of MSG Networks (MSGN) traded up $0.15 during mid-day trading on Friday, reaching $25.05. The company had a trading volume of 329,258 shares, compared to its average volume of 675,996. MSG Networks has a 1 year low of $16.15 and a 1 year high of $26.30. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of -1.62. The stock has a market cap of $1,874.57, a P/E ratio of 6.79, a price-to-earnings-growth ratio of 1.02 and a beta of 0.77.

MSG Networks (NYSE:MSGN) last announced its earnings results on Thursday, February 1st. The company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.11. MSG Networks had a negative return on equity of 19.52% and a net margin of 40.97%. The firm had revenue of $181.20 million for the quarter, compared to the consensus estimate of $179.73 million. During the same period in the previous year, the business earned $0.57 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. sell-side analysts predict that MSG Networks will post 3.8 EPS for the current year.

MSG Networks announced that its board has authorized a stock buyback plan on Friday, December 8th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional investors have recently bought and sold shares of the business. Rockefeller Financial Services Inc. grew its stake in 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 last quarter. Americafirst Capital Management LLC acquired a new position in shares of MSG Networks in the 2nd quarter valued at about $161,000. Tower Research Capital LLC TRC lifted its holdings in shares of MSG Networks by 126.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,881 shares of the company’s stock valued at $241,000 after buying an additional 6,645 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in shares of MSG Networks by 36.8% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 13,968 shares of the company’s stock valued at $314,000 after buying an additional 3,758 shares during the period. Finally, Magnetar Financial LLC acquired a new position in shares of MSG Networks in the 3rd quarter valued at about $300,000. Institutional investors and hedge funds own 79.01% of the company’s stock.

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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.

Analyst Recommendations for MSG Networks (NYSE:MSGN)

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