MSG Networks (NYSE:MSGN) PT Set at $17.00 by Cannonball Research

Cannonball Research set a $17.00 price target on MSG Networks (NYSE:MSGN) in a research note released on Monday morning, TipRanks reports. The brokerage currently has a hold rating on the stock.

Several other research analysts have also recently commented on MSGN. Zacks Investment Research upgraded shares of MSG Networks from a sell rating to a hold rating in a research report on Saturday. Morgan Stanley cut their price target on MSG Networks from $17.00 to $16.00 and set an underweight rating on the stock in a report on Thursday, August 22nd. Rosenblatt Securities set a $15.00 price objective on MSG Networks and gave the stock a hold rating in a research report on Wednesday, August 21st. Macquarie reduced their price objective on MSG Networks from $22.00 to $16.50 and set a neutral rating for the company in a research report on Thursday, August 22nd. Finally, Evercore ISI lowered MSG Networks from an in-line rating to an underperform rating in a report on Wednesday, August 21st. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. MSG Networks has an average rating of Hold and a consensus price target of $18.44.

Shares of MSG Networks stock traded down $0.01 during trading on Monday, hitting $17.34. 540,700 shares of the stock were exchanged, compared to its average volume of 564,183. The stock’s fifty day moving average is $17.17 and its 200 day moving average is $20.72. The stock has a market cap of $1.28 billion, a PE ratio of 7.05 and a beta of 0.71. MSG Networks has a 12 month low of $13.73 and a 12 month high of $28.13.

MSG Networks (NYSE:MSGN) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.07). The firm had revenue of $168.36 million during the quarter, compared to analyst estimates of $170.87 million. MSG Networks had a negative return on equity of 34.89% and a net margin of 25.83%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. Sell-side analysts expect that MSG Networks will post 2.57 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Clearbridge Investments LLC boosted its stake in MSG Networks by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 4,068,197 shares of the company’s stock valued at $88,483,000 after purchasing an additional 25,685 shares in the last quarter. First Hawaiian Bank lifted its holdings in shares of MSG Networks by 15.9% in the second quarter. First Hawaiian Bank now owns 18,403 shares of the company’s stock valued at $382,000 after buying an additional 2,523 shares during the period. Bank of Montreal Can boosted its stake in MSG Networks by 109.2% during the first quarter. Bank of Montreal Can now owns 139,018 shares of the company’s stock valued at $3,023,000 after buying an additional 72,571 shares in the last quarter. Raymond James & Associates bought a new position in MSG Networks during the first quarter valued at about $4,689,000. Finally, BBT Capital Management LLC acquired a new position in MSG Networks during the second quarter worth about $456,000. 85.83% of the stock is owned by institutional investors and hedge funds.

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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