Guggenheim Downgrades MSG Networks (NYSE:MSGN) to Sell

MSG Networks (NYSE:MSGN) was downgraded by equities research analysts at Guggenheim from a “neutral” rating to a “sell” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a $15.00 target price on the stock. Guggenheim’s price objective indicates a potential downside of 12.59% from the stock’s previous close.

A number of other research analysts have also recently weighed in on MSGN. Zacks Investment Research upgraded shares of MSG Networks from a “sell” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, November 13th. Macquarie lowered their target price on shares of MSG Networks from $22.00 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Morgan Stanley lowered their target price on shares of MSG Networks from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. ValuEngine upgraded shares of MSG Networks from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Cannonball Research set a $17.00 target price on shares of MSG Networks and gave the company a “hold” rating in a research note on Monday, September 9th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.69.

Shares of MSGN traded up $0.08 during trading hours on Tuesday, reaching $17.16. 2,929 shares of the stock traded hands, compared to its average volume of 739,908. MSG Networks has a 52-week low of $13.73 and a 52-week high of $27.85. The company’s 50-day moving average price is $16.64 and its two-hundred day moving average price is $18.63. The company has a market cap of $1.35 billion, a P/E ratio of 6.98 and a beta of 0.68.

MSG Networks (NYSE:MSGN) last released its earnings results on Thursday, November 7th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). MSG Networks had a net margin of 25.42% and a negative return on equity of 33.28%. The firm had revenue of $160.98 million for the quarter, compared to analysts’ expectations of $160.64 million. During the same quarter last year, the firm posted $0.62 EPS. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. Equities research analysts expect that MSG Networks will post 2.76 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in MSGN. Resources Investment Advisors LLC. grew its holdings in MSG Networks by 99.4% during the 2nd quarter. Resources Investment Advisors LLC. now owns 2,006 shares of the company’s stock valued at $42,000 after purchasing an additional 1,000 shares during the last quarter. Shine Investment Advisory Services Inc. increased its stake in MSG Networks by 21.5% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 3,354 shares of the company’s stock valued at $70,000 after purchasing an additional 594 shares in the last quarter. SG Americas Securities LLC acquired a new position in MSG Networks during the 3rd quarter valued at approximately $185,000. Quantamental Technologies LLC acquired a new position in MSG Networks during the 2nd quarter valued at approximately $191,000. Finally, First Republic Investment Management Inc. increased its stake in MSG Networks by 7.4% during the 2nd quarter. First Republic Investment Management Inc. now owns 10,805 shares of the company’s stock valued at $224,000 after purchasing an additional 746 shares in the last quarter. Institutional investors own 80.47% 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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