MSG Networks (NYSE:MSGN) issued its earnings results on Thursday. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01), Briefing.com reports. The firm had revenue of $160.98 million for the quarter, compared to analyst estimates of $160.64 million. MSG Networks had a negative return on equity of 34.89% and a net margin of 25.83%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 EPS.
NYSE MSGN traded up $0.51 during trading hours on Friday, hitting $17.37. The company had a trading volume of 642,540 shares, compared to its average volume of 735,329. MSG Networks has a 1-year low of $13.73 and a 1-year high of $27.85. The company has a market cap of $1.26 billion, a PE ratio of 7.06 and a beta of 0.68. The business has a 50 day moving average of $16.40 and a 200-day moving average of $18.92.
A number of equities analysts recently commented on MSGN shares. Rosenblatt Securities set a $15.00 target price on shares of MSG Networks and gave the stock a “hold” rating in a research note on Wednesday, August 21st. ValuEngine upgraded shares of MSG Networks from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Macquarie lowered their target price on shares of MSG Networks from $22.00 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Imperial Capital lowered 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 note on Thursday, August 22nd. Finally, Guggenheim lowered their target price on shares of MSG Networks from $24.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. MSG Networks has an average rating of “Hold” and an average 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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