MSG Networks (NYSE:MSGN) Releases Earnings Results, Misses Estimates By $0.01 EPS

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 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.

Read More: What Does a Sell-Side Analyst Rating Mean?

Earnings History for MSG Networks (NYSE:MSGN)

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