MSG Networks Inc (MSGN) is Initiated by FBN Securities to Sector Perform, Price Target at $19.69

MSG Networks Inc (MSGN) was Initiated by FBN Securities to “Sector Perform” and the brokerage firm has set the Price Target at $19.69. FBN Securities advised their investors in a research report released on May 12, 2016.

Many Wall Street Analysts have commented on MSG Networks Inc. MSG Networks Inc was Downgraded by Albert Fried to ” Market Perform” on Apr 29, 2016. 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.

On the company’s financial health, MSG Networks Inc reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.50. The company had revenue of $179.60 million for the quarter, compared to analysts expectations of $174.24 million. The company’s revenue was up 6.3% compared to the same quarter last year.

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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