MSG Networks Inc (NYSE:MSGN) Given Consensus Recommendation of “Hold” by Brokerages

MSG Networks Inc (NYSE:MSGN) has received a consensus rating of “Hold” from the ten analysts that are currently covering the company, reports. Five investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.92.

A number of analysts have recently issued reports on MSGN shares. Zacks Investment Research cut MSG Networks from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Guggenheim cut MSG Networks from a “neutral” rating to a “sell” rating in a research report on Wednesday, November 27th. Finally, ValuEngine raised MSG Networks from a “sell” rating to a “hold” rating in a report on Friday, January 3rd.

Shares of MSGN traded up $0.45 during mid-day trading on Friday, reaching $16.75. The company’s stock had a trading volume of 17,032 shares, compared to its average volume of 726,271. MSG Networks has a 1-year low of $13.73 and a 1-year high of $24.84. The stock has a market cap of $1.18 billion, a P/E ratio of 6.82 and a beta of 0.71. The business has a 50-day simple moving average of $16.66 and a two-hundred day simple moving average of $17.28.

MSG Networks (NYSE:MSGN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $160.98 million during the quarter, compared to analyst estimates of $160.64 million. During the same period in the previous year, the business earned $0.62 earnings per share. The business’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, research analysts predict that MSG Networks will post 2.76 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its holdings in shares of MSG Networks by 71.3% during the third quarter. Public Employees Retirement System of Ohio now owns 1,691 shares of the company’s stock worth $27,000 after purchasing an additional 704 shares during the period. SG Americas Securities LLC bought a new stake in shares of MSG Networks in the third quarter valued at approximately $185,000. Point72 Asset Management L.P. boosted its stake in shares of MSG Networks by 109.3% in the third quarter. Point72 Asset Management L.P. now owns 12,940 shares of the company’s stock valued at $210,000 after buying an additional 152,473 shares during the period. Walleye Trading Advisors LLC bought a new stake in shares of MSG Networks in the second quarter valued at approximately $224,000. Finally, First Trust Advisors LP acquired a new stake in MSG Networks during the third quarter worth approximately $291,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.

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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