MSG Networks (NYSE:MSGN) announced its quarterly earnings data on Thursday. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01), Briefing.com reports. MSG Networks had a negative return on equity of 34.89% and a net margin of 25.83%. The firm had revenue of $160.98 million during the quarter, compared to analysts’ expectations of $160.64 million. During the same period last year, the business posted $0.62 EPS. The company’s revenue was down 2.1% compared to the same quarter last year.
MSGN stock traded up $0.51 during mid-day trading on Friday, reaching $17.37. 642,540 shares of the company traded hands, compared to its average volume of 735,329. The company has a market capitalization of $1.26 billion, a P/E ratio of 7.06 and a beta of 0.68. MSG Networks has a 52-week low of $13.73 and a 52-week high of $27.85. The company has a fifty day moving average price of $16.40 and a 200-day moving average price of $18.92.
MSGN has been the subject of several recent research reports. Cannonball Research set a $17.00 price objective on MSG Networks and gave the stock a “hold” rating in a report on Monday, September 9th. Morgan Stanley decreased their price objective on MSG Networks from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Friday. Imperial Capital decreased their price objective on MSG Networks from $32.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Evercore ISI lowered MSG Networks from an “in-line” rating to an “underperform” rating in a report on Wednesday, August 21st. Finally, ValuEngine raised MSG Networks from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. MSG Networks has a consensus rating of “Hold” and an average 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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