Jefferies Group LLC restated their hold rating on shares of MSG Networks Inc. (NYSE:MSGN) in a research report sent to investors on Thursday morning. The firm currently has a $22.00 target price on the stock.
Several other brokerages have also weighed in on MSGN. Zacks Investment Research lowered shares of MSG Networks from a hold rating to a sell rating in a report on Saturday, July 15th. BidaskClub upgraded shares of MSG Networks from a hold rating to a buy rating in a report on Friday, June 30th. ValuEngine lowered shares of MSG Networks from a strong-buy rating to a buy rating in a report on Friday, June 2nd. FBN Securities upgraded shares of MSG Networks from a sector perform rating to an outperform rating in a report on Wednesday, August 30th. Finally, Loop Capital upgraded shares of MSG Networks from a sell rating to a hold rating and set a $19.00 price objective on the stock in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $25.00.
MSG Networks (NYSE MSGN) traded up 0.121% during trading on Thursday, reaching $20.725. The company’s stock had a trading volume of 493,600 shares. MSG Networks has a 12 month low of $17.78 and a 12 month high of $25.30. The company has a market cap of $1.56 billion, a P/E ratio of 9.344 and a beta of 0.75. The stock’s 50-day moving average is $20.97 and its 200 day moving average is $22.31.
MSG Networks (NYSE:MSGN) last issued its quarterly earnings results on Wednesday, August 16th. The company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. The business had revenue of $162.90 million for the quarter, compared to analysts’ expectations of $161.91 million. MSG Networks had a net margin of 24.78% and a negative return on equity of 16.56%. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities analysts forecast that MSG Networks will post $2.20 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new stake in shares of MSG Networks in the 1st quarter worth about $120,000. Victory Capital Management Inc. acquired a new stake in shares of MSG Networks in the 1st quarter worth about $146,000. Americafirst Capital Management LLC acquired a new stake in shares of MSG Networks in the 2nd quarter worth about $161,000. BNP Paribas Arbitrage SA raised its holdings in shares of MSG Networks by 177.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,347 shares of the company’s stock worth $187,000 after acquiring an additional 5,340 shares during the last quarter. Finally, Dubuque Bank & Trust Co. raised its holdings in shares of MSG Networks by 8.8% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 8,373 shares of the company’s stock worth $188,000 after acquiring an additional 679 shares during the last quarter. Institutional investors own 76.95% 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.
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