Shares of MSG Networks Inc. (NYSE:MSGN) have been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $22.17.
MSGN has been the subject of a number of recent research reports. Albert Fried & Company reissued a “buy” rating and issued a $28.00 price objective on shares of MSG Networks in a report on Wednesday, September 7th. Zacks Investment Research downgraded shares of MSG Networks from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $19.00 price target on shares of MSG Networks in a report on Friday, August 19th. Loop Capital initiated coverage on shares of MSG Networks in a report on Tuesday, August 9th. They set a “hold” rating for the company. Finally, Jefferies Group reaffirmed a “hold” rating on shares of MSG Networks in a report on Monday, August 22nd.
In other MSG Networks news, insider Kathleen Margaret Dolan purchased 47,864 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was purchased at an average cost of $16.80 per share, for a total transaction of $804,115.20. Following the transaction, the insider now owns 4,705 shares in the company, valued at approximately $79,044. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 19.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its position in shares of MSG Networks by 86.9% in the third quarter. BNP Paribas Arbitrage SA now owns 5,623 shares of the company’s stock valued at $105,000 after buying an additional 2,614 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of MSG Networks by 20.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 213,486 shares of the company’s stock valued at $3,275,000 after buying an additional 35,739 shares during the period. Legal & General Group Plc boosted its position in shares of MSG Networks by 139.5% in the second quarter. Legal & General Group Plc now owns 14,935 shares of the company’s stock valued at $229,000 after buying an additional 8,699 shares during the period. Fiera Capital Corp boosted its position in shares of MSG Networks by 1.1% in the second quarter. Fiera Capital Corp now owns 79,700 shares of the company’s stock valued at $1,223,000 after buying an additional 900 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of MSG Networks by 847.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 43,652 shares of the company’s stock valued at $670,000 after buying an additional 39,044 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.
Shares of MSG Networks (NYSE:MSGN) traded up 0.42% during mid-day trading on Thursday, hitting $19.19. 417,351 shares of the company were exchanged. The company’s 50-day moving average price is $18.05 and its 200-day moving average price is $16.94. MSG Networks has a 12-month low of $14.73 and a 12-month high of $21.72. The firm has a market capitalization of $1.44 billion, a P/E ratio of 193.84 and a beta of 0.83.
MSG Networks (NYSE:MSGN) last posted its quarterly earnings data on Thursday, August 18th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.08. The firm earned $160.50 million during the quarter, compared to the consensus estimate of $159.84 million. MSG Networks had a net margin of 1.16% and a negative return on equity of 13.76%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts predict that MSG Networks will post $2.10 earnings per share for the current fiscal year.
MSG Networks Company Profile
MSG Networks Inc, formerly The Madison Square Garden Company, is engaged in sports, entertainment and media business. The Company’s businesses include MSG Sports and MSG Entertainment. MSG Sports business includes sports business, which owns and operates the sports franchises, such as the New York Knicks (the Knicks) of the National Basketball Association (the NBA) and the New York Rangers (the Rangers) of the National Hockey League (the NHL).
Receive News & Ratings for MSG Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSG Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.