MSG Networks (NYSE:MSGN) posted its quarterly earnings data on Thursday. The company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.01), Briefing.com reports. MSG Networks had a net margin of 25.83% and a negative return on equity of 34.89%. The firm had revenue of $160.98 million during the quarter, compared to the consensus estimate of $160.64 million. During the same period in the prior year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year.
NYSE MSGN traded up $0.51 on Friday, hitting $17.37. 642,540 shares of the company were exchanged, compared to its average volume of 735,329. The company has a market cap of $1.26 billion, a PE ratio of 7.06 and a beta of 0.68. MSG Networks has a 12 month low of $13.73 and a 12 month high of $27.85. The stock has a fifty day moving average of $16.40 and a 200-day moving average of $18.92.
A number of research firms have recently commented on MSGN. Cannonball Research set a $17.00 price objective on shares of MSG Networks and gave the company a “hold” rating in a research note on Monday, September 9th. Morgan Stanley reduced their price objective on shares of MSG Networks from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Friday. Imperial Capital reduced their price objective on shares of MSG Networks from $32.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Evercore ISI lowered shares of MSG Networks from an “in-line” rating to an “underperform” rating in a research note on Wednesday, August 21st. Finally, Guggenheim reduced their price objective on shares of MSG Networks from $24.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Five analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. MSG Networks has a consensus rating of “Hold” and a consensus price target of $17.44.
MSG Networks Company Profile
MSG Networks Inc engages in the sports production, and content development and distribution businesses in the United States. The company owns and operates MSG Network and MSG+, which are regional sports and entertainment networks. It also operates MSG GO that provides live streaming and video on demand, as well as a Website and social media platforms for its brands.
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