MSG Networks (NYSE:MSGN) posted its earnings results on Friday. The company reported $0.62 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.62, MarketWatch Earnings reports. The company had revenue of $164.46 million during the quarter, compared to the consensus estimate of $162.59 million. MSG Networks had a net margin of 41.46% and a negative return on equity of 24.41%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share.
NYSE MSGN traded down $0.85 on Friday, reaching $25.52. 822,762 shares of the company’s stock traded hands, compared to its average volume of 467,219. The company has a market capitalization of $1.92 billion, a PE ratio of 6.70, a P/E/G ratio of 1.11 and a beta of 0.78. MSG Networks has a fifty-two week low of $16.15 and a fifty-two week high of $28.13.
A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of MSG Networks from a “buy” rating to a “sell” rating in a research report on Wednesday, October 24th. Imperial Capital boosted their target price on shares of MSG Networks to $32.00 and gave the company an “outperform” rating in a research report on Friday, October 19th. They noted that the move was a valuation call. Jefferies Financial Group restated a “hold” rating and set a $23.00 target price on shares of MSG Networks in a research report on Friday, August 17th. Finally, ValuEngine upgraded shares of MSG Networks from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 19th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.33.
A number of hedge funds and other institutional investors have recently bought and sold shares of MSGN. Principal Financial Group Inc. acquired a new position in shares of MSG Networks in the first quarter worth about $218,000. Guggenheim Capital LLC acquired a new position in shares of MSG Networks in the first quarter worth about $1,595,000. Xact Kapitalforvaltning AB acquired a new position in shares of MSG Networks in the first quarter worth about $234,000. KAMES CAPITAL plc acquired a new position in shares of MSG Networks in the second quarter worth about $719,000. Finally, Hartford Investment Management Co. acquired a new position in shares of MSG Networks in the second quarter worth about $228,000. Institutional investors own 83.77% of the company’s stock.
About MSG Networks
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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