Shares of MSG Networks Inc (NYSE:MSGN) have been assigned an average rating of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.20.

A number of analysts have recently commented on MSGN shares. Jefferies Group lowered their price target on MSG Networks from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Loop Capital raised MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Wednesday, October 11th. ValuEngine cut MSG Networks from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Morgan Stanley cut MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 target price for the company. in a research note on Tuesday, October 31st. Finally, KeyCorp reissued a “hold” rating on shares of MSG Networks in a research note on Tuesday, October 17th.

Shares of MSG Networks (NYSE:MSGN) traded up $0.35 during mid-day trading on Tuesday, hitting $21.60. The stock had a trading volume of 622,000 shares, compared to its average volume of 645,044. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of -1.35. The company has a market cap of $1,630.00, a PE ratio of 9.73, a PEG ratio of 220.18 and a beta of 0.96. MSG Networks has a one year low of $16.15 and a one year high of $25.30.

MSG Networks (NYSE:MSGN) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $157.46 million during the quarter, compared to analysts’ expectations of $157.21 million. MSG Networks had a negative return on equity of 17.40% and a net margin of 24.77%. MSG Networks’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. analysts anticipate that MSG Networks will post 2.18 EPS for the current year.

MSG Networks declared that its board has authorized a share repurchase program on Friday, December 8th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

A number of large investors have recently added to or reduced their stakes in MSGN. Rockefeller Financial Services Inc. boosted its holdings in shares of MSG Networks by 200.0% in the 3rd quarter. Rockefeller Financial Services Inc. now owns 6,975 shares of the company’s stock valued at $148,000 after buying an additional 4,650 shares during the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of MSG Networks in the 2nd quarter valued at approximately $161,000. Victory Capital Management Inc. boosted its holdings in shares of MSG Networks by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 7,330 shares of the company’s stock valued at $165,000 after buying an additional 1,097 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of MSG Networks by 177.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,347 shares of the company’s stock valued at $187,000 after buying an additional 5,340 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of MSG Networks in the 2nd quarter valued at approximately $284,000. 80.48% of the stock is owned by hedge funds and other institutional investors.

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About MSG Networks

MSG Networks Inc, formerly The Madison Square Garden Company, is engaged in sports production, and content development and distribution. The Company owns and operates two regional sports and entertainment networks, MSG Network (MSGN) and MSG+, collectively MSG Networks. Its networks are distributed throughout its territory, which includes all of New York State and significant portions of New Jersey and Connecticut, as well as parts of Pennsylvania.

Analyst Recommendations for MSG Networks (NYSE:MSGN)

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