MSG Networks (NYSE:MSGN) released its earnings results on Thursday. The company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.01), Briefing.com reports. The firm had revenue of $160.98 million during 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%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS.
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MSGN stock traded up $0.51 during midday trading 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 52 week low of $13.73 and a 52 week high of $27.85. The stock’s 50 day moving average price is $16.40 and its 200 day moving average price is $18.92. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 7.06 and a beta of 0.68.
MSGN has been the subject of several recent research reports. Imperial Capital lowered their price objective on MSG Networks from $32.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Morgan Stanley lowered their price objective on MSG Networks from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. downgraded MSG Networks from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $23.00 to $19.00 in a research report on Friday, July 19th. Cannonball Research set a $17.00 price objective on MSG Networks and gave the company a “hold” rating in a research report on Monday, September 9th. Finally, Rosenblatt Securities set a $15.00 price objective on MSG Networks and gave the company a “hold” rating in a research report on Wednesday, August 21st. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. MSG Networks has an average rating of “Hold” and an average target price 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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