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MSGN

MSG Networks

$14.32

0.18 (1.27%)

16:45
08/29/19
08/29
16:45
08/29/19
16:45

MSG Networks announces $300M buyback increase and modified Dutch auction

MSG Networks announced that its board has authorized a $300M increase to its existing stock repurchase program, bringing the company's total available authorization to approximately $436M. The company also announced that on August 30, 2019 it plans to commence a "modified Dutch auction" tender offer to purchase up to $250M in value of its outstanding Class A common stock at a price per Class A Share of not less than $15.00 and not greater than $17.50.

MSGN MSG Networks
$14.32

0.18 (1.27%)

08/21/19
EVER
08/21/19
DOWNGRADE
Target $18
EVER
Underperform
Evercore ISI downgrades MSG Networks to Underperform on accelerated sub losses
As previously reported, Evercore ISI analyst David Joyce downgraded MSG Networks to Underperform from In Line and cut his price target on the stock to $18 from $22 after the company reported that it lost 6.5% of subscribers in Q4, which he said was "far greater" than his expectation for a loss of 3.7% and an acceleration from the decline in the prior quarter. While he does not expect this level of losses going forward, the underperformance of MSG Networks compared to the broader industry is "concerning," said Joyce.
08/22/19
IMPC
08/22/19
NO CHANGE
Target $24
IMPC
Outperform
MSG Networks price target lowered to $24 from $32 at Imperial Capital
Imperial Capital analyst David Miller maintained an Outperform rating but lowered his price target to $24 from $32 after the company's quarterly earnings missed estimates due to lower affiliate fees. In a research note to investors, Miller says he is maintaining a constructive stance, as he believes the company will eventually seek strategic alternatives.
08/22/19
MACQ
08/22/19
NO CHANGE
Target $16.5
MACQ
Neutral
MSG Networks price target lowered to $16.50 from $22 at Macquarie
Macquarie analyst Tim Nollen lowered his price target for MSG Networks to $16.50 from $22 and maintained a Neutral rating after the company's Q4 results missed on all metrics and subscribers were down 6.5% on worse-than-expected pay TV declines across two distributors. In a research note to investors, Nollen says subscriber trends aren't set to improve in the near-term, but potential upside may come from new ad opportunities in sports betting and improved team performance. The analyst sees "rough waters ahead" as cord cutting accelerates.
08/22/19
GUGG
08/22/19
NO CHANGE
Target $15
GUGG
Neutral
MSG Networks price target lowered to $15 from $24 at Guggenheim
Guggenheim analyst Michael Morris lowered his price target on MSG Networks shares to $15 from $24 after the company reported accelerating subscriber declines in Q4. He thinks the underlying linear ecosystem won't be improving on the affiliate side and believes the company will be reliant on price increases, but Morris also continues to view live sports as premium content and thinks that advertiser demand will remain strong. He keeps a Neutral rating on MSG Networks shares.

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SPOT

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UBSFY

Ubisoft

$0.00

(0.00%)

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IMVT

Immunovant

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-0.01 (-0.06%)

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TBLT

ToughBuilt

$0.33

-0.0255 (-7.11%)

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MYO

Myomo

$0.32

0.0062 (1.98%)

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SRRA

Sierra Oncology

$0.40

-0.02 (-4.76%)

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Conference/Events
Sierra Oncology to host virtual special shareholder meeting »

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  • 21

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SRNE

Sorrento Therapeutics

$4.26

-0.15 (-3.40%)

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AKER

Akers Biosciences

$3.45

-0.1 (-2.82%)

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ECA

Encana

$4.09

-0.18 (-4.22%)

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MBRX

Moleculin Biotech

$0.96

0.0122 (1.29%)

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VOD

Vodafone

$20.07

-0.225 (-1.11%)

, BT

BT Group

$0.00

(0.00%)

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Options
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NSCO

Nesco Holdings

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GPS

Gap

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-0.075 (-0.40%)

, CMCSA

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APLS

Apellis

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0.03 (0.07%)

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$NSD

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$NYE

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LGC

Legacy Acquisition Corp

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GNUS

Genius Brands

$0.33

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BBY

Best Buy

$90.21

1.28 (1.44%)

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