MSG Networks (NYSE:MSGN) Price Target Cut to $15.00 by Analysts at Guggenheim

MSG Networks (NYSE:MSGN) had its price target cut by Guggenheim from $24.00 to $15.00 in a report released on Thursday, The Fly reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently issued reports on MSGN. ValuEngine cut shares of MSG Networks from a sell rating to a strong sell rating in a research note on Wednesday, June 26th. 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. Imperial Capital decreased their target price on shares of MSG Networks from $32.00 to $24.00 and set an outperform rating on the stock in a research report on Thursday. Macquarie decreased their target price on shares of MSG Networks from $22.00 to $16.50 and set a neutral rating on the stock in a research report on Thursday. Finally, Morgan Stanley decreased their target price on shares of MSG Networks from $17.00 to $16.00 and set an underweight rating on the stock in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $18.64.

MSGN traded up $0.24 during trading on Thursday, hitting $14.80. The stock had a trading volume of 3,097 shares, compared to its average volume of 528,172. The firm has a market capitalization of $1.26 billion, a P/E ratio of 6.07, a PEG ratio of 2.05 and a beta of 0.72. The company’s 50-day moving average price is $18.94 and its 200 day moving average price is $21.43. MSG Networks has a twelve month low of $14.37 and a twelve month high of $28.13.

MSG Networks (NYSE:MSGN) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.07). The firm had revenue of $168.36 million during the quarter, compared to analyst estimates of $170.87 million. MSG Networks had a net margin of 26.27% and a negative return on equity of 32.61%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. As a group, analysts predict that MSG Networks will post 2.52 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc boosted its stake in shares of MSG Networks by 8.7% during the 4th quarter. Legal & General Group Plc now owns 25,984 shares of the company’s stock worth $612,000 after purchasing an additional 2,075 shares during the period. Geode Capital Management LLC boosted its holdings in shares of MSG Networks by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 645,089 shares of the company’s stock valued at $15,198,000 after acquiring an additional 53,079 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of MSG Networks by 103.0% in the 1st quarter. Meeder Asset Management Inc. now owns 2,125 shares of the company’s stock valued at $46,000 after acquiring an additional 1,078 shares during the last quarter. Fairbanks Capital Management Inc. boosted its holdings in shares of MSG Networks by 3.0% in the 1st quarter. Fairbanks Capital Management Inc. now owns 153,830 shares of the company’s stock valued at $3,346,000 after acquiring an additional 4,464 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of MSG Networks by 193.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 14,781 shares of the company’s stock valued at $321,000 after acquiring an additional 9,741 shares during the last quarter. Institutional investors own 87.91% 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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