MSG Networks Inc. (MSGN) Stock Rating Reaffirmed by Jefferies Group LLC

18 Août, 2017, 06:03 | Author: Marc Bacque

News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSG Networks Inc. with MarketBeat.com's FREE daily email newsletter. (NYSE:MSGN) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC.

Several large investors have recently bought and sold shares of MSGN. LBA's holdings in MSG Networks were worth $201,000 as of its most recent SEC filing. BlackRock Inc. increased its stake in shares of MSG Networks by 33,563.0% in the first quarter. BlackRock Inc. now owns 3,898,845 shares of the company's stock valued at $91,038,000 after buying an additional 3,887,263 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of MSG Networks by 827.6% in the first quarter. 678,761 shares of the stock were exchanged. Fairbanks Capital Management Inc. boosted its stake in MSG Networks by 7.5% in the first quarter. Dubuque Bank & Trust Co. acquired a new position in MSG Networks during the first quarter worth approximately $180,000. Bank of America Corp DE now owns 990,055 shares of the company's stock valued at $23,118,000 after buying an additional 849,778 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock. The company's quarterly revenue was up 1.5% on a year-over-year basis.

For the year, the company reported profit of $167.3 million, or $2.21 per share. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 8.68 and a beta of 0.78. MSG Networks has a 1-year low of $15.60 and a 1-year high of $25.30.

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MSG Networks (NYSE MSGN) traded up 0.73% during midday trading on Friday, hitting $20.70. The firm had revenue of $162.90 million for the quarter, compared to the consensus estimate of $161.91 million. MSG Networks had a net margin of 26.21% and a negative return on equity of 16.20%. During the same quarter in the previous year, the company posted $0.57 EPS. MSG Networks's quarterly revenue was up 1.5% compared to the same quarter past year. On average, equities research analysts predict that MSG Networks will post $2.20 EPS for the current year.

ILLEGAL ACTIVITY WARNING: "Sentinel Trust Co". Finally, TD Asset Management Inc. boosted its stake in MSG Networks by 7.9% in the first quarter. If you are reading this story on another website, it was illegally copied and reposted in violation of global trademark and copyright laws. Zacks Investment Research cut MSG Networks from a "hold" rating to a "sell" rating in a research note on Wednesday, April 19th. Finally, Loop Capital raised shares of MSG Networks from a "sell" rating to a "hold" rating and set a $19.00 target price for the company in a research note on Monday, August 7th. Evercore ISI restated an outperform rating on shares of MSG Networks in a report on Monday, April 10th. Jefferies Group LLC raised their target price on shares of MSG Networks from $20.00 to $22.00 and gave the company a "hold" rating in a research note on Monday, May 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company's stock. Topeka Capital Markets maintained the stock with "Hold" rating in Friday, February 5 report.

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

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