MSG Networks Inc (MSGN) Receives Average Recommendation of “Hold” from Brokerages

MSG Networks Inc (NYSE:MSGN) has received a consensus rating of “Hold” from the nine ratings firms that are currently covering the stock. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $22.81.

MSGN has been the subject of a number of recent research reports. Guggenheim upgraded shares of MSG Networks from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Friday, December 9th. Bank of America Corp began coverage on shares of MSG Networks in a research note on Tuesday, January 31st. They issued a “buy” rating and a $27.00 target price for the company. Zacks Investment Research upgraded shares of MSG Networks from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a research note on Thursday, February 2nd. Loop Capital lowered shares of MSG Networks from a “hold” rating to a “sell” rating and set a $18.00 target price for the company. in a research note on Friday, December 16th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $20.00 target price on shares of MSG Networks in a research note on Friday, February 3rd.

Shares of MSG Networks (NYSE:MSGN) traded up 0.333% during mid-day trading on Monday, reaching $22.575. 107,555 shares of the company’s stock traded hands. MSG Networks has a 12-month low of $14.73 and a 12-month high of $23.95. The firm has a 50-day moving average of $22.27 and a 200 day moving average of $20.64. The company has a market cap of $1.69 billion, a P/E ratio of 9.643 and a beta of 0.78.

MSG Networks (NYSE:MSGN) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. The business earned $175.60 million during the quarter, compared to analyst estimates of $176.35 million. MSG Networks had a net margin of 26.43% and a negative return on equity of 15.59%. MSG Networks’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. Equities analysts forecast that MSG Networks will post $2.26 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. TIAA CREF Investment Management LLC raised its stake in MSG Networks by 0.5% in the third quarter. TIAA CREF Investment Management LLC now owns 336,009 shares of the company’s stock valued at $6,253,000 after buying an additional 1,562 shares during the last quarter. Teachers Advisors LLC raised its stake in MSG Networks by 10.5% in the third quarter. Teachers Advisors LLC now owns 261,295 shares of the company’s stock valued at $4,863,000 after buying an additional 24,848 shares during the last quarter. BlackRock Fund Advisors raised its stake in MSG Networks by 6.2% in the third quarter. BlackRock Fund Advisors now owns 1,514,642 shares of the company’s stock valued at $28,187,000 after buying an additional 88,377 shares during the last quarter. BlackRock Investment Management LLC raised its stake in MSG Networks by 1.3% in the third quarter. BlackRock Investment Management LLC now owns 239,168 shares of the company’s stock valued at $4,451,000 after buying an additional 3,104 shares during the last quarter. Finally, Airain ltd purchased a new stake in MSG Networks during the third quarter valued at about $557,000. Hedge funds and other institutional investors own 77.23% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “MSG Networks Inc (MSGN) Receives Average Recommendation of “Hold” from Brokerages” was originally posted by Mideast Time and is the property of of Mideast Time. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this story can be accessed at https://www.mideasttime.com/msg-networks-inc-msgn-receives-average-recommendation-of-hold-from-brokerages/1589505.html.

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.

5 Day Chart for NYSE:MSGN

Receive News & Ratings for MSG Networks Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSG Networks Inc and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.