MSG Networks Inc. (MSGN) Given “Hold” Rating at KeyCorp

MSG Networks Inc. (NYSE:MSGN)‘s stock had its “hold” rating reaffirmed by equities researchers at KeyCorp in a note issued to investors on Tuesday.

A number of other analysts have also recently commented on the stock. Loop Capital upgraded shares of MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Wednesday, October 11th. ValuEngine upgraded shares of MSG Networks from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Jefferies Group LLC reiterated a “hold” rating and issued a $22.00 target price on shares of MSG Networks in a research note on Thursday, September 21st. FBN Securities upgraded shares of MSG Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 30th. Finally, Zacks Investment Research cut shares of MSG Networks from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $24.86.

Shares of MSG Networks (NYSE MSGN) traded down 0.24% on Tuesday, reaching $20.70. 107,634 shares of the company were exchanged. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 9.33 and a beta of 0.76. The firm’s 50 day moving average price is $21.04 and its 200 day moving average price is $22.04. MSG Networks has a 52 week low of $18.25 and a 52 week high of $25.30.

MSG Networks (NYSE:MSGN) last released its earnings results on Wednesday, August 16th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $162.90 million during 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%. MSG Networks’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. Equities research analysts anticipate that MSG Networks will post $2.20 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd lifted its stake in MSG Networks by 36.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 13,968 shares of the company’s stock valued at $314,000 after acquiring an additional 3,758 shares during the period. Koch Industries Inc. acquired a new stake in MSG Networks during the 2nd quarter valued at approximately $213,000. Americafirst Capital Management LLC acquired a new stake in MSG Networks during the 2nd quarter valued at approximately $161,000. CNH Partners LLC lifted its stake in MSG Networks by 10.7% during the 2nd quarter. CNH Partners LLC now owns 1,251,805 shares of the company’s stock valued at

A number of other analysts have also recently commented on the stock. Loop Capital upgraded shares of MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Wednesday, October 11th. ValuEngine upgraded shares of MSG Networks from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Jefferies Group LLC reiterated a “hold” rating and issued a $22.00 target price on shares of MSG Networks in a research note on Thursday, September 21st. FBN Securities upgraded shares of MSG Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 30th. Finally, Zacks Investment Research cut shares of MSG Networks from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $24.86.

Shares of MSG Networks (NYSE MSGN) traded down 0.24% on Tuesday, reaching $20.70. 107,634 shares of the company were exchanged. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 9.33 and a beta of 0.76. The firm’s 50 day moving average price is $21.04 and its 200 day moving average price is $22.04. MSG Networks has a 52 week low of $18.25 and a 52 week high of $25.30.

MSG Networks (NYSE:MSGN) last released its earnings results on Wednesday, August 16th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $162.90 million during 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%. MSG Networks’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. Equities research analysts anticipate that MSG Networks will post $2.20 EPS for the current year.

WARNING: This article was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The original version of this article can be accessed at https://ledgergazette.com/2017/10/17/msg-networks-inc-msgn-given-hold-rating-at-keycorp.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd lifted its stake in MSG Networks by 36.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 13,968 shares of the company’s stock valued at $314,000 after acquiring an additional 3,758 shares during the period. Koch Industries Inc. acquired a new stake in MSG Networks during the 2nd quarter valued at approximately $213,000. Americafirst Capital Management LLC acquired a new stake in MSG Networks during the 2nd quarter valued at approximately $161,000. CNH Partners LLC lifted its stake in MSG Networks by 10.7% during the 2nd quarter. CNH Partners LLC now owns 1,251,805 shares of the company’s stock valued at $28,103,000 after acquiring an additional 121,247 shares during the period. Finally, State Street Corp lifted its stake in MSG Networks by 5.3% during the 2nd quarter. State Street Corp now owns 1,304,687 shares of the company’s stock valued at $29,290,000 after acquiring an additional 66,007 shares during the period. 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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