News stories about MSG Networks (NYSE:MSGN) have trended somewhat positive this week, Accern Sentiment Analysis reports. The research group scores the sentiment of news coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. MSG Networks earned a media sentiment score of 0.14 on Accern’s scale. Accern also gave press coverage about the company an impact score of 46.7479892524412 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
MSGN has been the subject of several recent research reports. Morgan Stanley lowered MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 price objective for the company. in a report on Tuesday, October 31st. Jefferies Group cut their price objective on MSG Networks from $22.00 to $19.00 and set a “hold” rating for the company in a report on Friday, November 3rd. Loop Capital upgraded MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Wednesday, October 11th. KeyCorp reiterated a “hold” rating on shares of MSG Networks in a report on Tuesday, October 17th. Finally, Zacks Investment Research lowered MSG Networks from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $22.20.
MSG Networks (MSGN) opened at $20.55 on Friday. MSG Networks has a 1-year low of $16.15 and a 1-year high of $25.30. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of -1.35. The firm has a market capitalization of $1,587.44, a PE ratio of 9.30, a price-to-earnings-growth ratio of 215.09 and a beta of 0.74.
MSG Networks (NYSE:MSGN) last posted its earnings results on Thursday, November 2nd. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. MSG Networks had a negative return on equity of 17.40% and a net margin of 24.77%. The company had revenue of $157.46 million for the quarter, compared to analyst estimates of $157.21 million. During the same period last year, the company earned $0.54 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. equities research analysts anticipate that MSG Networks will post 2.18 EPS for the current year.
MSG Networks declared that its board has authorized a stock buyback plan on Friday, December 8th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
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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.
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