Brokerages Set MSG Networks Inc (NYSE:MSGN) PT at $23.40

Shares of MSG Networks Inc (NYSE:MSGN) have received an average recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $22.75.

MSGN has been the subject of several research reports. Morgan Stanley reduced their price target on shares of MSG Networks from $20.00 to $17.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Rosenblatt Securities set a $23.00 price target on shares of MSG Networks and gave the company a “hold” rating in a research report on Thursday, June 20th. Evercore ISI lowered shares of MSG Networks from an “in-line” rating to an “underperform” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of MSG Networks from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, ValuEngine lowered shares of MSG Networks from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th.

Shares of MSGN stock traded down $2.09 on Wednesday, hitting $14.76. The stock had a trading volume of 2,409,718 shares, compared to its average volume of 526,389. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 3.87, a price-to-earnings-growth ratio of 2.09 and a beta of 0.72. The business has a 50 day moving average of $19.06 and a 200 day moving average of $21.47. MSG Networks has a 12-month low of $14.46 and a 12-month high of $28.13.

MSG Networks (NYSE:MSGN) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.07). The company had revenue of $168.36 million for the quarter, compared to the consensus estimate of $170.87 million. MSG Networks had a net margin of 26.27% and a negative return on equity of 32.61%. MSG Networks’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, equities analysts forecast that MSG Networks will post 2.53 earnings per share for the current year.

Large investors have recently modified their holdings of the business. Quadrant Capital Group LLC bought a new position in MSG Networks during the first quarter worth about $25,000. Resources Investment Advisors LLC. boosted its position in MSG Networks by 99.4% during the second quarter. Resources Investment Advisors LLC. now owns 2,006 shares of the company’s stock worth $42,000 after purchasing an additional 1,000 shares during the period. Meeder Asset Management Inc. boosted its position in MSG Networks by 103.0% during the first quarter. Meeder Asset Management Inc. now owns 2,125 shares of the company’s stock worth $46,000 after purchasing an additional 1,078 shares during the period. Shine Investment Advisory Services Inc. boosted its position in MSG Networks by 21.5% during the second quarter. Shine Investment Advisory Services Inc. now owns 3,354 shares of the company’s stock worth $70,000 after purchasing an additional 594 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position in MSG Networks by 196.8% during the first quarter. Rockefeller Capital Management L.P. now owns 6,901 shares of the company’s stock worth $151,000 after purchasing an additional 4,576 shares during the period. Hedge funds and other institutional investors own 87.91% of the company’s stock.

About MSG Networks

MSG Networks Inc engages in the sports production, and content development and distribution businesses in the United States. The company owns and operates MSG Network and MSG+, which are regional sports and entertainment networks. It also operates MSG GO that provides live streaming and video on demand, as well as a Website and social media platforms for its brands.

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Analyst Recommendations for MSG Networks (NYSE:MSGN)

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