Shares of MSG Networks Inc. (NYSE:MSGN) have received an average recommendation of “Buy” from the twelve research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $24.86.
A number of equities analysts have weighed in on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $22.00 target price on shares of MSG Networks in a research note on Thursday, September 21st. FBN Securities raised shares of MSG Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 30th. Zacks Investment Research downgraded shares of MSG Networks from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. ValuEngine raised shares of MSG Networks from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Loop Capital raised shares of MSG Networks from a “sell” rating to a “hold” rating and set a $19.00 target price for the company in a research note on Monday, August 7th.
Shares of MSG Networks (NYSE:MSGN) traded up 0.68% during mid-day trading on Friday, reaching $22.05. 266,460 shares of the company were exchanged. MSG Networks has a 12 month low of $18.20 and a 12 month high of $25.30. The stock has a market capitalization of $1.66 billion, a P/E ratio of 9.94 and a beta of 0.76. The stock has a 50 day moving average price of $20.98 and a 200-day moving average price of $22.10.
MSG Networks (NYSE:MSGN) last announced its earnings results on Wednesday, August 16th. The company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. MSG Networks had a net margin of 24.78% and a negative return on equity of 16.56%. The business had revenue of $162.90 million during the quarter, compared to the consensus estimate of $161.91 million. During the same quarter last year, the firm earned $0.57 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts predict that MSG Networks will post $2.20 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in shares of MSG Networks by 605.8% during the first quarter. Bank of America Corp DE now owns 990,055 shares of the company’s stock valued at $23,118,000 after buying an additional 849,778 shares during the last quarter. Hays Advisory LLC purchased a new stake in shares of MSG Networks during the second quarter valued at approximately $3,916,000. PNC Financial Services Group Inc. grew its holdings in shares of MSG Networks by 222.0% during the first quarter. PNC Financial Services Group Inc. now owns 11,855 shares of the company’s stock valued at $276,000 after buying an additional 8,173 shares during the last quarter. American International Group Inc. grew its holdings in shares of MSG Networks by 229.4% during the first quarter. American International Group Inc. now owns 112,771 shares of the company’s stock valued at $2,633,000 after buying an additional 78,539 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of MSG Networks by 37.9% during the second quarter. American Century Companies Inc. now owns 1,302,569 shares of the company’s stock valued at $29,243,000 after buying an additional 358,009 shares during the last quarter. Hedge funds and other institutional investors own 76.95% of the company’s stock.
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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.
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