According to Zacks, “MSG Networks Inc. is engaged in production and content development which comprised of sports and entertainment networks, MSG Network and MSG+ as well as MSGNetworks.com and MSG GO. MSG Networks Inc., formerly known as Madison Square Garden Company, is based in New York. “
Several other analysts have also weighed in on the stock. Rosenblatt Securities set a $23.00 price objective on shares of MSG Networks and gave the company a hold rating in a research note on Thursday, June 20th. ValuEngine lowered shares of Yirendai from a sell rating to a strong sell rating in a research note on Wednesday, June 26th. Finally, Morgan Stanley set a $226.00 price objective on shares of S&P Global and gave the company a hold rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. MSG Networks currently has a consensus rating of Hold and an average target price of $24.60.
Shares of NYSE:MSGN traded up $0.15 during mid-day trading on Tuesday, hitting $20.75. The company had a trading volume of 195,137 shares, compared to its average volume of 427,587. The company has a fifty day moving average of $21.00. The firm has a market capitalization of $1.54 billion, a P/E ratio of 5.45, a PEG ratio of 2.47 and a beta of 0.74. MSG Networks has a one year low of $19.05 and a one year high of $28.13.
MSG Networks (NYSE:MSGN) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.05. The company had revenue of $195.10 million during the quarter, compared to analyst estimates of $192.03 million. MSG Networks had a net margin of 26.27% and a negative return on equity of 32.61%. MSG Networks’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 EPS. On average, analysts expect that MSG Networks will post 2.53 EPS for the current year.
Hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC bought a new stake in MSG Networks during the 1st quarter valued at $25,000. Meeder Asset Management Inc. increased its stake in MSG Networks by 103.0% during the 1st quarter. Meeder Asset Management Inc. now owns 2,125 shares of the company’s stock valued at $46,000 after purchasing an additional 1,078 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in MSG Networks by 196.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 6,901 shares of the company’s stock valued at $151,000 after purchasing an additional 4,576 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in MSG Networks during the 1st quarter valued at $160,000. Finally, Advisor Group Inc. increased its stake in MSG Networks by 54.4% during the 4th quarter. Advisor Group Inc. now owns 9,667 shares of the company’s stock valued at $227,000 after purchasing an additional 3,407 shares in the last quarter. Institutional investors and hedge funds own 87.23% of the company’s stock.
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.
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