MSG Networks (NYSE:MSGN) PT Lowered to $15.00

MSG Networks (NYSE:MSGN) had its price target decreased by equities research analysts at Morgan Stanley from $16.00 to $15.00 in a report released on Friday, Stock Target Advisor reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 13.64% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Imperial Capital dropped their price objective on MSG Networks from $32.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. JPMorgan Chase & Co. cut MSG Networks from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $23.00 to $19.00 in a research report on Friday, July 19th. Rosenblatt Securities set a $15.00 price objective on MSG Networks and gave the company a “hold” rating in a research report on Wednesday, August 21st. Evercore ISI cut MSG Networks from an “in-line” rating to an “underperform” rating in a research report on Wednesday, August 21st. Finally, Macquarie dropped their price objective on MSG Networks from $22.00 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $17.44.

Shares of NYSE:MSGN opened at $17.37 on Friday. MSG Networks has a 1-year low of $13.73 and a 1-year high of $27.85. The business has a fifty day moving average price of $16.40 and a 200-day moving average price of $18.92. The company has a market capitalization of $1.26 billion, a PE ratio of 7.06 and a beta of 0.68.

MSG Networks (NYSE:MSGN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). MSG Networks had a net margin of 25.83% and a negative return on equity of 34.89%. The business had revenue of $160.98 million for the quarter, compared to analysts’ expectations of $160.64 million. During the same period last year, the business earned $0.62 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. On average, analysts expect that MSG Networks will post 2.6 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Systematic Financial Management LP boosted its position in MSG Networks by 16.7% in the third quarter. Systematic Financial Management LP now owns 1,416,755 shares of the company’s stock worth $22,980,000 after purchasing an additional 202,725 shares during the last quarter. River Road Asset Management LLC boosted its position in MSG Networks by 11.6% in the third quarter. River Road Asset Management LLC now owns 1,521,748 shares of the company’s stock worth $24,683,000 after purchasing an additional 158,311 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in MSG Networks in the third quarter worth about $730,000. Tower Research Capital LLC TRC purchased a new position in MSG Networks in the third quarter worth about $874,000. Finally, SG Americas Securities LLC purchased a new position in MSG Networks in the third quarter worth about $185,000. 84.01% of the stock is currently owned by institutional investors and hedge funds.

MSG Networks Company Profile

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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