MSG Networks (NYSE:MSGN) posted its quarterly earnings data 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 firm had revenue of $160.98 million during the quarter, compared to analyst estimates of $160.64 million. MSG Networks had a net margin of 25.83% and a negative return on equity of 34.89%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS.
MSGN stock 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. MSG Networks has a twelve month low of $13.73 and a twelve month high of $27.85. The business’s fifty day moving average is $16.40 and its two-hundred day moving average is $18.92. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.06 and a beta of 0.68.
A number of research firms have recently weighed in on MSGN. Macquarie cut their price objective on shares of MSG Networks from $22.00 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Rosenblatt Securities set a $15.00 price objective on shares of MSG Networks and gave the company a “hold” rating in a research report on Wednesday, August 21st. Imperial Capital cut their price objective 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. Cannonball Research set a $17.00 price objective on shares of MSG Networks and gave the company a “hold” rating in a research report on Monday, September 9th. Finally, ValuEngine raised shares of MSG Networks from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.44.
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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