MSG Networks (MSGN) Trading Up 7.2%

Shares of MSG Networks Inc (NYSE:MSGN) were up 7.2% on Tuesday . The stock traded as high as $19.50 and last traded at $19.35. Approximately 786,600 shares changed hands during mid-day trading, an increase of 41% from the average daily volume of 559,528 shares. The stock had previously closed at $18.05.

Several analysts recently weighed in on MSGN shares. FBN Securities upgraded shares of MSG Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 30th. ValuEngine downgraded shares of MSG Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group reiterated a “hold” rating and issued a $22.00 target price on shares of MSG Networks in a report on Monday, August 14th. Zacks Investment Research downgraded shares of MSG Networks from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, KeyCorp restated a “hold” rating on shares of MSG Networks in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. MSG Networks has an average rating of “Hold” and an average target price of $23.17.

The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of -1.35. The company has a market capitalization of $1,452.02, a P/E ratio of 8.73, a P/E/G ratio of 9.95 and a beta of 0.75.

MSG Networks (NYSE:MSGN) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. MSG Networks had a net margin of 24.77% and a negative return on equity of 17.40%. The firm had revenue of $157.46 million during the quarter, compared to analysts’ expectations of $157.21 million. During the same period in the previous year, the company earned $0.54 earnings per share. MSG Networks’s quarterly revenue was up 2.5% compared to the same quarter last year. equities research analysts anticipate that MSG Networks Inc will post 2.18 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in MSGN. Schwab Charles Investment Management Inc. lifted its position in MSG Networks by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 253,057 shares of the company’s stock valued at $5,682,000 after acquiring an additional 2,307 shares during the last quarter. Rhumbline Advisers lifted its position in MSG Networks by 2.7% in the second quarter. Rhumbline Advisers now owns 80,510 shares of the company’s stock valued at $1,807,000 after acquiring an additional 2,098 shares during the last quarter. Bank of New York Mellon Corp lifted its position in MSG Networks by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 423,687 shares of the company’s stock valued at $9,511,000 after acquiring an additional 24,635 shares during the last quarter. Legal & General Group Plc lifted its position in MSG Networks by 1.7% in the second quarter. Legal & General Group Plc now owns 24,804 shares of the company’s stock valued at $557,000 after acquiring an additional 408 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in MSG Networks by 177.6% in the second quarter. BNP Paribas Arbitrage SA now owns 8,347 shares of the company’s stock valued at $187,000 after acquiring an additional 5,340 shares during the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

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MSG Networks Company Profile

MSG Networks Inc, formerly The Madison Square Garden Company, is engaged in sports production, and content development and distribution. The Company owns and operates two regional sports and entertainment networks, MSG Network (MSGN) and MSG+, collectively MSG Networks. Its networks are distributed throughout its territory, which includes all of New York State and significant portions of New Jersey and Connecticut, as well as parts of Pennsylvania.

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