MSGN has been the topic of several other research reports. Zacks Investment Research upgraded MSG Networks from a hold rating to a strong-buy rating and set a $27.00 target price on the stock in a research note on Thursday, February 2nd. Macquarie cut MSG Networks from an outperform rating to a neutral rating and set a $26.00 target price on the stock. in a research note on Wednesday, April 5th. They noted that the move was a valuation call. Bank of America Corp started coverage on MSG Networks in a research note on Tuesday, January 31st. They issued a buy rating and a $27.00 target price on the stock. Morgan Stanley boosted their target price on MSG Networks from $22.00 to $24.00 and gave the company an equal weight rating in a research note on Friday, April 28th. Finally, Evercore ISI reiterated an outperform rating on shares of MSG Networks in a research note on Monday, April 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. MSG Networks currently has an average rating of Hold and an average price target of $24.22.
MSG Networks (NYSE:MSGN) last posted its earnings results on Friday, May 5th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The company had revenue of $183.20 million for the quarter, compared to analyst estimates of $182.81 million. MSG Networks had a negative return on equity of 15.59% and a net margin of 26.43%. MSG Networks’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share.
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Several hedge funds and other institutional investors have recently bought and sold shares of MSGN. YG Partners LLC raised its position in MSG Networks by 3.2% in the first quarter. YG Partners LLC now owns 225,482 shares of the company’s stock worth $5,265,000 after buying an additional 7,041 shares during the last quarter. Credit Suisse AG raised its position in shares of MSG Networks by 98.8% in the first quarter. Credit Suisse AG now owns 152,901 shares of the company’s stock worth $3,569,000 after buying an additional 75,979 shares in the last quarter. Scopus Asset Management L.P. raised its position in shares of MSG Networks by 104.8% in the first quarter. Scopus Asset Management L.P. now owns 791,303 shares of the company’s stock worth $18,477,000 after buying an additional 404,900 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of MSG Networks by 3.5% in the first quarter. Gotham Asset Management LLC now owns 495,564 shares of the company’s stock worth $11,571,000 after buying an additional 16,640 shares in the last quarter. Finally, State Street Corp raised its position in shares of MSG Networks by 12.7% in the first quarter. State Street Corp now owns 1,238,680 shares of the company’s stock worth $28,927,000 after buying an additional 139,380 shares in the last quarter. 77.23% of the stock is currently owned by institutional investors and hedge funds.
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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