MSG Networks Inc (NYSE:MSGN) Receives $17.92 Consensus Price Target from Analysts

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Shares of MSG Networks Inc (NYSE:MSGN) have been assigned a consensus rating of “Hold” from the ten analysts that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $17.92.

Several analysts recently commented on the stock. Zacks Investment Research cut shares of MSG Networks from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. ValuEngine upgraded shares of MSG Networks from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Guggenheim cut shares of MSG Networks from a “neutral” rating to a “sell” rating in a report on Wednesday, November 27th.

Shares of MSG Networks stock traded up $0.45 during trading on Friday, hitting $16.75. The stock had a trading volume of 17,032 shares, compared to its average volume of 726,271. The stock has a 50 day simple moving average of $16.66 and a 200 day simple moving average of $17.28. The company has a market capitalization of $1.18 billion, a PE ratio of 6.82 and a beta of 0.71. MSG Networks has a 1 year low of $13.73 and a 1 year high of $24.84.

MSG Networks (NYSE:MSGN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $160.98 million for the quarter, compared to analyst estimates of $160.64 million. MSG Networks had a negative return on equity of 33.28% and a net margin of 25.42%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 earnings per share. On average, sell-side analysts predict that MSG Networks will post 2.76 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its position in 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 acquiring an additional 704 shares during the period. SG Americas Securities LLC acquired a new stake in MSG Networks during the third quarter worth $185,000. Point72 Asset Management L.P. boosted its position in shares of MSG Networks by 109.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 12,940 shares of the company’s stock valued at $210,000 after acquiring an additional 152,473 shares in the last quarter. Walleye Trading Advisors LLC bought a new position in MSG Networks during the second quarter worth about $224,000. Finally, First Trust Advisors LP bought a new position in MSG Networks during the third quarter worth about $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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