Rosenblatt Securities restated their neutral rating on shares of MSG Networks (NYSE:MSGN) in a report issued on Monday, AnalystRatings.com reports. Rosenblatt Securities currently has a $23.00 price target on the stock.
MSGN has been the topic of a number of other research reports. Guggenheim downgraded shares of MSG Networks from a buy rating to a neutral rating in a research report on Monday, January 7th. ValuEngine downgraded shares of MSG Networks from a sell rating to a strong sell rating in a research report on Wednesday, January 30th. Morgan Stanley cut their target price on shares of MSG Networks from $22.00 to $20.00 and set an underweight rating on the stock in a research report on Friday, May 3rd. Finally, Zacks Investment Research raised shares of MSG Networks from a hold rating to a buy rating and set a $26.00 target price on the stock in a research report on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $24.60.
MSGN stock opened at $22.07 on Monday. The stock has a market capitalization of $1.61 billion, a P/E ratio of 5.79, a P/E/G ratio of 1.75 and a beta of 0.78. MSG Networks has a 12 month low of $18.90 and a 12 month high of $28.13.
MSG Networks (NYSE:MSGN) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The company had revenue of $195.10 million for the quarter, compared to the consensus estimate of $192.03 million. MSG Networks had a net margin of 26.27% and a negative return on equity of 31.18%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. As a group, analysts forecast that MSG Networks will post 2.52 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in shares of MSG Networks by 4.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,317 shares of the company’s stock worth $408,000 after buying an additional 674 shares during the last quarter. Cerity Partners LLC grew its position in shares of MSG Networks by 4.3% in the 4th quarter. Cerity Partners LLC now owns 24,630 shares of the company’s stock worth $580,000 after buying an additional 1,005 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of MSG Networks by 103.0% in the 1st quarter. Meeder Asset Management Inc. now owns 2,125 shares of the company’s stock worth $46,000 after buying an additional 1,078 shares during the last quarter. Quadrant Capital Group LLC purchased a new position in shares of MSG Networks in the 1st quarter worth approximately $25,000. Finally, Athena Capital Advisors LLC purchased a new position in shares of MSG Networks in the 4th quarter worth approximately $36,000. 88.24% of the stock is currently 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.
Further Reading: Diluted Earnings Per Share