MSG Networks Inc. (NYSE:MSGN) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Monday.

Several other research analysts have also weighed in on the company. BidaskClub raised MSG Networks from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research lowered MSG Networks from a “hold” rating to a “sell” rating in a research report on Saturday, July 15th. Loop Capital raised MSG Networks from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a research report on Monday, August 7th. FBN Securities raised MSG Networks from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 30th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $22.00 price objective on shares of MSG Networks in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. MSG Networks has a consensus rating of “Hold” and a consensus price target of $25.00.

MSG Networks (NYSE MSGN) traded down 4.00% on Monday, reaching $20.40. The company’s stock had a trading volume of 358,538 shares. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 9.20 and a beta of 0.75. MSG Networks has a 52-week low of $17.78 and a 52-week high of $25.30. The firm’s 50-day moving average price is $20.96 and its 200-day moving average price is $22.31.

MSG Networks (NYSE:MSGN) last posted its quarterly earnings data on Wednesday, August 16th. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. MSG Networks had a negative return on equity of 16.56% and a net margin of 24.78%. The firm had revenue of $162.90 million during the quarter, compared to analyst estimates of $161.91 million. During the same period last year, the company posted $0.57 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts expect that MSG Networks will post $2.20 earnings per share for the current year.

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A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in MSG Networks by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 6,667,275 shares of the company’s stock valued at $149,681,000 after buying an additional 360,354 shares in the last quarter. BlackRock Inc. increased its position in MSG Networks by 33,563.0% in the 1st 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 in the last quarter. Dimensional Fund Advisors LP increased its position in MSG Networks by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,080,073 shares of the company’s stock valued at $46,698,000 after buying an additional 127,441 shares in the last quarter. State Street Corp increased its position in MSG Networks by 5.3% in the 2nd quarter. State Street Corp now owns 1,304,687 shares of the company’s stock valued at $29,290,000 after buying an additional 66,007 shares in the last quarter. Finally, American Century Companies Inc. increased its position in MSG Networks by 37.9% in the 2nd quarter. American Century Companies Inc. now owns 1,302,569 shares of the company’s stock valued at $29,243,000 after buying an additional 358,009 shares in the last quarter. 76.95% of the stock is owned by institutional investors and hedge funds.

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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