MSG Networks Inc. (MSGN) Raised to Buy at Loop Capital

MSG Networks Inc. (NYSE:MSGN) was upgraded by equities researchers at Loop Capital from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other research analysts have also commented on the company. ValuEngine upgraded MSG Networks from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Jefferies Group LLC restated a “hold” rating and set a $22.00 price target on shares of MSG Networks in a research report on Thursday, September 21st. FBN Securities upgraded MSG Networks from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 30th. Zacks Investment Research lowered MSG Networks from a “hold” rating to a “sell” rating in a research report on Saturday, July 15th. Finally, BidaskClub upgraded MSG Networks from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $24.86.

Shares of MSG Networks (NYSE:MSGN) opened at 21.30 on Wednesday. The firm’s 50-day moving average price is $21.00 and its 200-day moving average price is $22.09. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 9.60 and a beta of 0.76. MSG Networks has a 12 month low of $18.20 and a 12 month high of $25.30.

MSG Networks (NYSE:MSGN) last released its quarterly earnings results on Wednesday, August 16th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. MSG Networks had a negative return on equity of 16.56% and a net margin of 24.78%. The business had revenue of $162.90 million during the quarter, compared to analyst estimates of $161.91 million. During the same period last year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts expect that MSG Networks will post $2.20 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “MSG Networks Inc. (MSGN) Raised to Buy at Loop Capital” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/11/msg-networks-inc-msgn-raised-to-buy-at-loop-capital.html.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in MSG Networks by 33,563.0% in the first quarter. BlackRock Inc. now owns 3,898,845 shares of the company’s stock valued at $91,038,000 after buying an additional 3,887,263 shares in the last quarter. Neuberger Berman Group LLC raised its stake in MSG Networks by 2,476.2% in the second quarter. Neuberger Berman Group LLC now owns 1,017,985 shares of the company’s stock valued at $22,854,000 after buying an additional 978,470 shares in the last quarter. Bank of America Corp DE raised its stake in MSG Networks by 605.8% in 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 in the last quarter. Scopus Asset Management L.P. raised its stake in MSG Networks by 104.8% in the first quarter. Scopus Asset Management L.P. now owns 791,303 shares of the company’s stock valued at $18,477,000 after buying an additional 404,900 shares

Several other research analysts have also commented on the company. ValuEngine upgraded MSG Networks from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Jefferies Group LLC restated a “hold” rating and set a $22.00 price target on shares of MSG Networks in a research report on Thursday, September 21st. FBN Securities upgraded MSG Networks from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 30th. Zacks Investment Research lowered MSG Networks from a “hold” rating to a “sell” rating in a research report on Saturday, July 15th. Finally, BidaskClub upgraded MSG Networks from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $24.86.

Shares of MSG Networks (NYSE:MSGN) opened at 21.30 on Wednesday. The firm’s 50-day moving average price is $21.00 and its 200-day moving average price is $22.09. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 9.60 and a beta of 0.76. MSG Networks has a 12 month low of $18.20 and a 12 month high of $25.30.

MSG Networks (NYSE:MSGN) last released its quarterly earnings results on Wednesday, August 16th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. MSG Networks had a negative return on equity of 16.56% and a net margin of 24.78%. The business had revenue of $162.90 million during the quarter, compared to analyst estimates of $161.91 million. During the same period last year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts expect that MSG Networks will post $2.20 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “MSG Networks Inc. (MSGN) Raised to Buy at Loop Capital” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/11/msg-networks-inc-msgn-raised-to-buy-at-loop-capital.html.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in MSG Networks by 33,563.0% in the first quarter. BlackRock Inc. now owns 3,898,845 shares of the company’s stock valued at $91,038,000 after buying an additional 3,887,263 shares in the last quarter. Neuberger Berman Group LLC raised its stake in MSG Networks by 2,476.2% in the second quarter. Neuberger Berman Group LLC now owns 1,017,985 shares of the company’s stock valued at $22,854,000 after buying an additional 978,470 shares in the last quarter. Bank of America Corp DE raised its stake in MSG Networks by 605.8% in 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 in the last quarter. Scopus Asset Management L.P. raised its stake in MSG Networks by 104.8% in the first quarter. Scopus Asset Management L.P. now owns 791,303 shares of the company’s stock valued at $18,477,000 after buying an additional 404,900 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in MSG Networks by 5.7% in the second quarter. Vanguard Group Inc. now owns 6,667,275 shares of the company’s stock valued at $149,681,000 after buying an additional 360,354 shares in the last quarter. Institutional investors and hedge funds own 76.95% of the company’s stock.

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.

Analyst Recommendations for MSG Networks (NYSE:MSGN)

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