MSG Networks (NYSE:MSGN) issued its earnings results on Thursday. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01), Briefing.com reports. The business had revenue of $160.98 million for the quarter, compared to the consensus estimate of $160.64 million. MSG Networks had a negative return on equity of 34.89% and a net margin of 25.83%. MSG Networks’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS.
Shares of MSGN stock traded up $0.51 during trading hours on Friday, reaching $17.37. The stock had a trading volume of 642,540 shares, compared to its average volume of 735,329. The stock’s fifty day simple moving average is $16.40 and its 200 day simple moving average is $18.92. MSG Networks has a 12 month low of $13.73 and a 12 month high of $27.85. The firm has a market capitalization of $1.26 billion, a PE ratio of 7.06 and a beta of 0.68.
MSGN has been the subject of a number of research reports. Cannonball Research set a $17.00 target price on shares of MSG Networks and gave the stock a “hold” rating in a research report on Monday, September 9th. Imperial Capital cut their target price on shares of MSG Networks from $32.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lowered shares of MSG Networks from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $23.00 to $19.00 in a research report on Friday, July 19th. Rosenblatt Securities set a $15.00 target price on shares of MSG Networks and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Finally, ValuEngine upgraded shares of MSG Networks from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. MSG Networks currently has an average rating of “Hold” and a consensus price target of $17.44.
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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