MSG Networks Inc (NYSE:MSGN) has been given a consensus recommendation of “Buy” by the twelve brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $25.00.
A number of brokerages have weighed in on MSGN. ValuEngine lowered MSG Networks from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research raised MSG Networks from a “sell” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday, February 1st. Morgan Stanley lifted their target price on MSG Networks from $20.00 to $23.00 and gave the company an “underweight” rating in a research report on Wednesday, January 31st. Guggenheim lifted their target price on MSG Networks from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, Bank of America lifted their target price on MSG Networks from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th.
Shares of MSG Networks (MSGN) traded up $0.15 during mid-day trading on Friday, hitting $25.05. The company had a trading volume of 329,258 shares, compared to its average volume of 675,996. The company has a debt-to-equity ratio of -1.62, a current ratio of 3.11 and a quick ratio of 3.11. The company has a market cap of $1,874.57, a price-to-earnings ratio of 6.79, a P/E/G ratio of 1.02 and a beta of 0.77. MSG Networks has a 52-week low of $16.15 and a 52-week high of $26.30.
MSG Networks (NYSE:MSGN) last issued its earnings results on Thursday, February 1st. The company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.11. The business had revenue of $181.20 million during the quarter, compared to analyst estimates of $179.73 million. MSG Networks had a negative return on equity of 19.52% and a net margin of 40.97%. MSG Networks’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. equities research analysts anticipate that MSG Networks will post 3.8 earnings per share for the current fiscal year.
MSG Networks declared that its board has approved a stock buyback program on Friday, December 8th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MSGN. Ariel Investments LLC raised its position in shares of MSG Networks by 17.5% in the 4th quarter. Ariel Investments LLC now owns 8,981,457 shares of the company’s stock worth $181,875,000 after acquiring an additional 1,339,171 shares in the last quarter. London Co. of Virginia raised its position in shares of MSG Networks by 148.2% in the 4th quarter. London Co. of Virginia now owns 1,651,551 shares of the company’s stock worth $33,444,000 after acquiring an additional 986,234 shares in the last quarter. Systematic Financial Management LP raised its position in shares of MSG Networks by 692.1% in the 4th quarter. Systematic Financial Management LP now owns 971,893 shares of the company’s stock worth $19,681,000 after acquiring an additional 849,193 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of MSG Networks by 51.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,536,767 shares of the company’s stock worth $32,579,000 after acquiring an additional 518,782 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of MSG Networks by 660.2% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 438,439 shares of the company’s stock worth $8,878,000 after acquiring an additional 380,763 shares in the last quarter. 79.01% of the stock is owned by hedge funds and other institutional investors.
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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