MSG Networks Inc (MSGN) is Downgraded by Albert Fried to Market Perform

MSG Networks Inc (MSGN) was Downgraded by Albert Fried to ” Market Perform”. Earlier the firm had a rating of “Overweight ” on the company shares. Albert Fried advised their investors in a research report released on Apr 29, 2016.

Many Wall Street Analysts have commented on MSG Networks Inc. MSG Networks Inc was Initiated by Pacific Crest to “Sector Weight” on Mar 29, 2016. Credit Agricole Initiated MSG Networks Inc on Mar 9, 2016 to “Underperform”, Price Target of the shares are set at $19.Shares were Reiterated by Topeka Capital Markets on Feb 5, 2016 to “Hold” and Lowered the Price Target to $ 19 from a previous price target of $20 .

On the company’s financial health, MSG Networks Inc reported $0.45 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Feb 5, 2016. Analyst had a consensus of $0.48. The company had revenue of $169.90 million for the quarter, compared to analysts expectations of $167.23 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

In a different news, on Mar 2, 2016, James Lawrence Dolan (Executive Chairman) sold 66,000 shares at $16.53 per share price.

MSG Networks Inc. formerly The Madison Square Garden Company is engaged in sports entertainment and media business. The Company’s businesses include MSG Sports and MSG Entertainment. MSG Sports business includes sports business which owns and operates the sports franchises such as the New York Knicks (the Knicks) of the National Basketball Association (the NBA) and the New York Rangers (the Rangers) of the National Hockey League (the NHL). MSG Entertainment business includes entertainment business which presents or hosts live entertainment events including concerts family shows performing arts and special events. In addition the Company also owns and operates regional sports networks under its MSG Media business including MSG Network (MSG) and MSG+; in addition to the live streaming and video on demand platform MSG GO.

MSG Networks Inc

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