A Look at the Health of MSG Networks Inc (MSGN)

Barsaba Taglieri
Luglio 18, 2017

A number of investment brokers have recently updated their price targets on shares of MSG Networks (NYSE:MSGN). AlphaOne Investment Services LLC purchased a new stake in MSG Networks during the first quarter valued at $1,301,000. Accern also assigned news stories about the company an impact score of 0 out of 100, meaning that recent press coverage is extremely unlikely to have an effect on the stock's share price in the immediate future. The Madison Square Garden comprises 2.4% of Norman Fields Gottscho Capital Management LLC's holdings, making the stock its 11th largest position. Renaissance Technologies LLC now owns 45,698 shares of the company's stock worth $7,838,000 after buying an additional 17,198 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new stake in MSG Networks during the first quarter valued at $180,000. Quadrature Capital Ltd now owns 32,187 shares of the company's stock valued at $689,000 after buying an additional 15,147 shares during the period. Legal & General Group Plc now owns 24,396 shares of the company's stock worth $570,000 after buying an additional 3,645 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in The Madison Square Garden Company by 139,360.0% in the first quarter.

Bank of New York Mellon Corp raised its position in shares of The Madison Square Garden Company (NYSE:MSG) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. Institutional investors own 84.80% of the company's stock.

Shares of MSG Networks Inc. (MSGN) opened at 22.75 on Monday. The company has a 50-day moving average price of $196.91 and a 200-day moving average price of $188.74. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 9.86 and a beta of 0.79. MSG Networks has $2200 highest and $18 lowest target.

MSG Networks (NYSE:MSGN) last released its quarterly earnings data on Friday, May 5th. The company reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.59 by $0.01. The company had revenue of $183.20 million for the quarter, compared to the consensus estimate of $182.81 million. As of June 30, 2016, the Company owned the Madison Square Garden Complex, which includes the Madison Square Garden Arena (The Garden) with a capacity of 21,000 seats and The Theater at Madison Square Garden with a capacity of 5,600 seats in New York City; a training center in Greenburgh, New York with 105,000 square feet of space; The Chicago Theatre with a capacity of 3,600 seats in Chicago, and the Forum with a capacity of 17,800 seats in Inglewood, California. MSG Networks's revenue was up 2.0% compared to the same quarter previous year. During the same period in the prior year, the company posted $0.59 earnings per share. Equities analysts expect that The Madison Square Garden will post ($0.72) earnings per share for the current fiscal year.

WARNING: This report was first published by BBNS and is owned by of BBNS. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of United States and worldwide copyright law. Zacks Investment Research downgraded MSG Networks from a "hold" rating to a "sell" rating in a research report on Wednesday, April 19th.

Several brokerages have recently issued reports on MSG. Zacks Investment Research downgraded MSG Networks from a "buy" rating to a "hold" rating in a report on Wednesday, April 12th. BidaskClub upgraded shares of MSG Networks from a "hold" rating to a "buy" rating in a report on Friday, June 30th. Finally, J P Morgan Chase & Co reiterated an "overweight" rating and issued a $245.00 price objective on shares of The Madison Square Garden Company in a research note on Thursday, April 20th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of "Hold" and an average target price of $24.22.

About MSG Networks MSG Networks Inc, formerly The Madison Square Garden Company, is engaged in sports production, and content development and distribution.

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