MSG Networks (MSGN) Receives “Hold” Rating from Jefferies Financial Group

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Jefferies Financial Group restated their hold rating on shares of MSG Networks (NYSE:MSGN) in a research report released on Friday morning. They currently have a $23.00 target price on the stock. Jefferies Financial Group also issued estimates for MSG Networks’ Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.59 EPS, Q3 2019 earnings at $0.66 EPS, Q4 2019 earnings at $0.66 EPS, FY2019 earnings at $2.52 EPS, Q1 2020 earnings at $0.65 EPS, Q2 2020 earnings at $0.64 EPS, Q3 2020 earnings at $0.67 EPS, Q4 2020 earnings at $0.67 EPS, FY2020 earnings at $2.63 EPS and FY2021 earnings at $2.80 EPS.

MSGN has been the topic of a number of other reports. Zacks Investment Research downgraded shares of MSG Networks from a hold rating to a sell rating in a report on Thursday, August 2nd. ValuEngine downgraded shares of MSG Networks from a sell rating to a strong sell rating in a report on Thursday, July 12th. BTIG Research downgraded shares of MSG Networks from a buy rating to a neutral rating in a report on Monday, April 30th. Finally, Morgan Stanley cut their price objective on shares of MSG Networks from $23.00 to $19.00 and set an underweight rating on the stock in a report on Friday, June 1st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. MSG Networks currently has a consensus rating of Hold and an average target price of $24.83.

MSGN opened at $24.80 on Friday. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of -1.64. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.38 and a beta of 0.76. MSG Networks has a 1 year low of $16.15 and a 1 year high of $26.30.

MSG Networks (NYSE:MSGN) last posted its quarterly earnings data on Wednesday, August 15th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The firm had revenue of $171.40 million for the quarter, compared to the consensus estimate of $166.01 million. MSG Networks had a net margin of 41.18% and a negative return on equity of 21.60%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. analysts expect that MSG Networks will post 2.34 EPS for the current fiscal year.

Several large investors have recently modified their holdings of MSGN. Channing Capital Management LLC purchased a new position in shares of MSG Networks in the 2nd quarter worth about $31,512,000. Citadel Advisors LLC boosted its holdings in shares of MSG Networks by 4,728.5% in the 2nd quarter. Citadel Advisors LLC now owns 771,789 shares of the company’s stock worth $18,484,000 after buying an additional 755,805 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in shares of MSG Networks by 98.2% in the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,359,656 shares of the company’s stock worth $32,564,000 after buying an additional 673,483 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of MSG Networks by 164.2% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 687,000 shares of the company’s stock worth $16,454,000 after buying an additional 427,000 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of MSG Networks in the 2nd quarter worth about $8,675,000. 84.53% of the stock is currently owned by institutional investors.

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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