MSG Networks Inc. (NYSE:MSGN) is one of the stocks that are grabbing investor focus today: sinking -3.17% or (-0.51 points) to $15.59 from its previous close of $16.1. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 183943 contracts so far this session. MSGN shares had a relatively better volume day versus average trading capacity of 776.7 thousand shares, but with a 44.14 million float and a -1.89% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MSGN stock indicates that the average analyst price target is $17.84 per share. This means the stock has a potential increase of 14.43% from where the MSGN share price has been trading recently.
During the recent trading session for MSG Networks Inc. (NYSE:MSGN), the company witnessed their stock drop by $-0.02 over a week and tumble down $-1.14 from the price 20 days ago. When compared to their established 52-week high of $24.84, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/28/19. The recent low of $13.73 stood for a -37.25% since 08/28/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.73 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for MSG Networks Inc., the two-week RSI stands at 45.66. This figure suggests that MSGN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MSGN readings is similarly very revealing as it has a stochastic reading of 47.43% at this stage. This figure means that MSGN share price today is being neutral.
Technical chart claims that MSG Networks Inc. (MSGN) would settle between $16.32/share to $16.54/share level. However, if the stock price goes below the $15.87 mark, then the market for MSG Networks Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $15.64 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.07. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Guggenheim lowered their recommendation on shares of MSGN from Neutral to Sell in their opinion released on November 19. Imperial Capital analysts again handed out a Outperform recommendation to MSG Networks Inc. (NYSE:MSGN) stock but they lifted target price for the shares in a flash note issued to investors on August 22. The target price has been raised from $32 to $24. Analysts at Evercore ISI lowered the stock to a Underperform call from its previous In-line recommendation, in a research note that dated back to August 21.
MSGN equity has an average rating of 3.3, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 2 analysts rated MSG Networks Inc. (NYSE:MSGN) as a buy or a strong buy while 3 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MSGN stock price is currently trading at 6.14X forward 12-month Consensus EPS estimates, and its P/E ratio is 6.5 while for the average stock in the same group, the multiple is 19.7. MSG Networks Inc. current P/B ratio of 0 means it is trading at a discount against its industry’s 3.7.