MSG Networks (NYSE:MSGN) Given a $23.00 Price Target by Rosenblatt Securities Analysts

Rosenblatt Securities set a $23.00 target price on MSG Networks (NYSE:MSGN) in a research report released on Thursday, June 20th, Stock Target Advisor reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts also recently commented on MSGN. Morgan Stanley set a $226.00 price objective on S&P Global and gave the company a hold rating in a research report on Friday, May 3rd. ValuEngine raised William Lyon Homes from a strong sell rating to a sell rating in a research report on Wednesday, April 10th. Finally, Zacks Investment Research cut German American Bancorp. from a buy rating to a hold rating in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $24.60.

NYSE MSGN traded up $0.14 during mid-day trading on Thursday, hitting $20.89. The stock had a trading volume of 334,846 shares, compared to its average volume of 417,416. MSG Networks has a 52-week low of $19.05 and a 52-week high of $28.13. The firm has a market cap of $1.56 billion, a P/E ratio of 5.48, a price-to-earnings-growth ratio of 2.49 and a beta of 0.74. The stock has a 50 day moving average price of $20.99.

MSG Networks (NYSE:MSGN) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.05. The company had revenue of $195.10 million during the quarter, compared to the consensus estimate of $192.03 million. MSG Networks had a negative return on equity of 32.61% and a net margin of 26.27%. MSG Networks’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share. As a group, sell-side analysts anticipate that MSG Networks will post 2.53 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of MSG Networks by 7.1% in the fourth quarter. BlackRock Inc. now owns 4,585,346 shares of the company’s stock worth $108,030,000 after acquiring an additional 302,612 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of MSG Networks by 0.6% in the first quarter. Clearbridge Investments LLC now owns 4,068,197 shares of the company’s stock worth $88,483,000 after acquiring an additional 25,685 shares in the last quarter. FMR LLC lifted its stake in shares of MSG Networks by 130.5% in the fourth quarter. FMR LLC now owns 4,034,258 shares of the company’s stock worth $95,046,000 after acquiring an additional 2,284,233 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of MSG Networks by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,161,673 shares of the company’s stock worth $50,929,000 after acquiring an additional 33,059 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in shares of MSG Networks by 2.2% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,480,956 shares of the company’s stock worth $34,891,000 after acquiring an additional 32,000 shares in the last quarter. Institutional investors own 87.23% 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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Analyst Recommendations for MSG Networks (NYSE:MSGN)

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