JPMorgan Chase & Co. cut shares of MSG Networks (NYSE:MSGN) from a neutral rating to an underweight rating in a report issued on Friday, BenzingaRatingsTable reports. They currently have $19.00 price target on the stock, down from their previous price target of $23.00.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of DLH from a sell rating to a hold rating in a research report on Tuesday, July 9th. Morgan Stanley set a $226.00 price objective on shares of S&P Global and gave the company a hold rating in a research report on Friday, May 3rd. Rosenblatt Securities set a $23.00 price objective on shares of MSG Networks and gave the company a hold rating in a research report on Thursday, June 20th. Finally, ValuEngine downgraded shares of Yirendai from a sell rating to a strong sell rating in a research report on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $23.67.
Shares of MSGN opened at $19.04 on Friday. The stock has a market capitalization of $1.43 billion, a PE ratio of 5.00, a PEG ratio of 2.29 and a beta of 0.74. MSG Networks has a fifty-two week low of $18.81 and a fifty-two week high of $28.13. The business has a 50-day simple moving average of $20.91.
MSG Networks (NYSE:MSGN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ 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 32.61%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 earnings per share. On average, equities research analysts anticipate that MSG Networks will post 2.53 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC bought a new position in MSG Networks in the first quarter worth approximately $25,000. Meeder Asset Management Inc. raised its position in MSG Networks by 103.0% in the first quarter. Meeder Asset Management Inc. now owns 2,125 shares of the company’s stock worth $46,000 after acquiring an additional 1,078 shares during the period. Rockefeller Capital Management L.P. raised its position in MSG Networks by 196.8% in the first quarter. Rockefeller Capital Management L.P. now owns 6,901 shares of the company’s stock worth $151,000 after acquiring an additional 4,576 shares during the period. NumerixS Investment Technologies Inc bought a new position in MSG Networks in the first quarter worth approximately $160,000. Finally, Advisor Group Inc. raised its position in MSG Networks by 54.4% in the fourth quarter. Advisor Group Inc. now owns 9,667 shares of the company’s stock worth $227,000 after acquiring an additional 3,407 shares during the period. Institutional investors and hedge funds own 87.32% of the company’s stock.
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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