MSG Networks Inc. (NYSE:MSG) has been assigned an average rating of “Hold” from the thirteen brokerages that are covering the stock. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $205.55.
A number of research firms have commented on MSG. Macquarie reaffirmed a “hold” rating and issued a $182.00 target price on shares of MSG Networks in a research report on Monday, February 6th. Zacks Investment Research raised shares of MSG Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, January 10th. Guggenheim raised shares of MSG Networks from a “neutral” rating to a “buy” rating in a research report on Saturday, December 10th. Albert Fried & Company reissued a “hold” rating on shares of MSG Networks in a research report on Wednesday, January 11th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $185.00 price objective on shares of MSG Networks in a research report on Monday, February 6th.
Shares of MSG Networks (NYSE:MSG) opened at 171.99 on Tuesday. MSG Networks has a 12 month low of $146.00 and a 12 month high of $188.80. The stock’s market cap is $4.12 billion. The company has a 50 day moving average price of $173.44 and a 200-day moving average price of $173.83.
MSG Networks (NYSE:MSG) last posted its earnings results on Friday, February 3rd. The company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.37. MSG Networks had a negative net margin of 7.63% and a negative return on equity of 2.55%. The business earned $445.20 million during the quarter, compared to the consensus estimate of $440.08 million. During the same quarter in the previous year, the firm posted $1.74 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. On average, equities research analysts predict that MSG Networks will post ($0.40) earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can bought a new stake in shares of MSG Networks during the second quarter valued at approximately $2,761,000. Gamco Investors INC. ET AL boosted its stake in shares of MSG Networks by 0.5% in the second quarter. Gamco Investors INC. ET AL now owns 930,735 shares of the company’s stock valued at $160,561,000 after buying an additional 5,007 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of MSG Networks by 0.3% in the second quarter. Gabelli Funds LLC now owns 537,800 shares of the company’s stock valued at $92,776,000 after buying an additional 1,869 shares during the last quarter. EagleClaw Capital Managment LLC bought a new stake in shares of MSG Networks during the second quarter valued at approximately $359,000. Finally, Boyar Asset Management Inc. boosted its stake in shares of MSG Networks by 3.0% in the second quarter. Boyar Asset Management Inc. now owns 22,851 shares of the company’s stock valued at $3,942,000 after buying an additional 673 shares during the last quarter. Institutional investors and hedge funds own 86.80% of the company’s stock.
About MSG Networks
The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.
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