According to Zacks, “MSG Networks Inc. is engaged in production and content development which comprised of sports and entertainment networks, MSG Network and MSG+ as well as MSGNetworks.com and MSG GO. MSG Networks Inc., formerly known as Madison Square Garden Company, is based in New York. “
Several other research firms have also commented on MSGN. ValuEngine lowered shares of MSG Networks from a sell rating to a strong sell rating in a report on Wednesday, June 26th. Rosenblatt Securities set a $15.00 price target on shares of MSG Networks and gave the stock a hold rating in a research note on Wednesday, August 21st. Guggenheim cut their price target on shares of MSG Networks from $24.00 to $15.00 and set a neutral rating for the company in a research report on Thursday, August 22nd. JPMorgan Chase & Co. cut MSG Networks from a neutral rating to an underweight rating and reduced their price objective for the company from $23.00 to $19.00 in a research note on Friday, July 19th. Finally, Macquarie decreased their price objective on MSG Networks from $22.00 to $16.50 and set a neutral rating on the stock in a report on Thursday, August 22nd. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $18.64.
MSG Networks (NYSE:MSGN) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.07). The firm had revenue of $168.36 million for the quarter, compared to analysts’ expectations of $170.87 million. MSG Networks had a net margin of 25.83% and a negative return on equity of 34.89%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, equities research analysts predict that MSG Networks will post 2.57 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of MSG Networks by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 645,089 shares of the company’s stock worth $15,198,000 after buying an additional 53,079 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of MSG Networks by 193.3% in the first quarter. BNP Paribas Arbitrage SA now owns 14,781 shares of the company’s stock valued at $321,000 after acquiring an additional 9,741 shares during the period. Bank of Montreal Can raised its stake in shares of MSG Networks by 109.2% during the first quarter. Bank of Montreal Can now owns 139,018 shares of the company’s stock valued at $3,023,000 after acquiring an additional 72,571 shares during the last quarter. Quadrant Capital Group LLC bought a new position in shares of MSG Networks during the first quarter valued at about $25,000. Finally, SG Americas Securities LLC bought a new position in shares of MSG Networks during the first quarter valued at about $366,000. 85.83% of the stock is owned by hedge funds and other institutional investors.
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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