Zacks Investment Research Upgrades MSG Networks (NYSE:MSGN) to “Hold”

MSG Networks (NYSE:MSGN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

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. Morgan Stanley set a $226.00 price objective on shares of S&P Global and gave the company a “hold” rating in a research note on Friday, May 3rd. Rosenblatt Securities set a $23.00 price objective on shares of MSG Networks and gave the company a “hold” rating in a research note on Thursday, June 20th. Finally, ValuEngine lowered shares of Yirendai from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Two 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. MSG Networks presently has a consensus rating of “Hold” and an average target price of $24.60.



NYSE:MSGN traded up $0.15 on Tuesday, hitting $20.75. The stock had a trading volume of 195,137 shares, compared to its average volume of 521,672. The firm has a market cap of $1.56 billion, a PE ratio of 5.42, a P/E/G ratio of 2.51 and a beta of 0.74. MSG Networks has a 1 year low of $19.05 and a 1 year high of $28.13. The firm’s fifty day simple moving average is $21.03.

MSG Networks (NYSE:MSGN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The firm had revenue of $195.10 million during the quarter, compared to analyst estimates of $192.03 million. MSG Networks had a net margin of 26.27% and a negative return on equity of 32.61%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. Equities analysts predict that MSG Networks will post 2.53 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC purchased a new stake in shares of MSG Networks during the 1st quarter worth approximately $25,000. Meeder Asset Management Inc. increased its stake in shares of MSG Networks by 103.0% during the 1st 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 last quarter. Rockefeller Capital Management L.P. increased its stake in shares of MSG Networks by 196.8% during the 1st 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 last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of MSG Networks during the 1st quarter worth approximately $160,000. Finally, Advisor Group Inc. increased its stake in shares of MSG Networks by 54.4% during the 4th quarter. Advisor Group Inc. now owns 9,667 shares of the company’s stock worth $227,000 after purchasing an additional 3,407 shares during the last quarter. Institutional investors own 87.23% 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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