Evercore ISI Downgrades MSG Networks (NYSE:MSGN) to Underperform
MSG Networks (NYSE:MSGN) was downgraded by equities research analysts at Evercore ISI to an “underperform” rating in a research note issued on Wednesday, The Fly reports.
Several other research firms have also recently weighed in on MSGN. ValuEngine cut MSG Networks from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Rosenblatt Securities set a $23.00 price objective on MSG Networks and gave the stock a “hold” rating in a report on Thursday, June 20th. Morgan Stanley dropped their price objective on MSG Networks from $20.00 to $17.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. Zacks Investment Research upgraded MSG Networks from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut MSG Networks from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $23.00 to $19.00 in a report on Friday, July 19th. Four analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $23.20.
NYSE MSGN traded down $1.66 on Wednesday, hitting $15.19. The company’s stock had a trading volume of 7,407 shares, compared to its average volume of 530,751. MSG Networks has a 52-week low of $16.34 and a 52-week high of $28.13. The company’s 50-day simple moving average is $19.17 and its 200 day simple moving average is $21.50. The firm has a market cap of $1.28 billion, a P/E ratio of 3.89, a PEG ratio of 2.09 and a beta of 0.72.
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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