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

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

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

A number of institutional investors have recently modified their holdings of MSGN. Public Employees Retirement System of Ohio grew its position in MSG Networks by 71.3% during the 3rd 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 last quarter. Vigilant Capital Management LLC purchased a new position in MSG Networks during the 4th quarter worth $32,000. SG Americas Securities LLC purchased a new position in MSG Networks during the 3rd quarter worth $185,000. Point72 Asset Management L.P. grew its position in MSG Networks by 109.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 12,940 shares of the company’s stock worth $210,000 after purchasing an additional 152,473 shares during the last quarter. Finally, Walleye Trading Advisors LLC purchased a new position in MSG Networks during the 2nd quarter worth $224,000. 82.65% of the stock is currently owned by institutional investors.

Shares of NYSE MSGN traded down $0.30 during mid-day trading on Friday, reaching $16.51. The company had a trading volume of 404,776 shares, compared to its average volume of 711,373. The firm has a 50 day simple moving average of $16.67 and a two-hundred day simple moving average of $17.24. The stock has a market cap of $1.26 billion, a P/E ratio of 6.85 and a beta of 0.71. MSG Networks has a 52-week low of $13.73 and a 52-week high of $24.84.

MSG Networks (NYSE:MSGN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). MSG Networks had a negative return on equity of 33.28% and a net margin of 25.42%. The business had revenue of $160.98 million for the quarter, compared to analysts’ expectations of $160.64 million. During the same period in the previous year, the business posted $0.62 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Research analysts predict that MSG Networks will post 2.76 earnings per share for the current fiscal year.

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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