MSG Networks (NYSE:MSGN) posted its earnings results on Thursday. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $160.98 million during the quarter, compared to analysts’ expectations of $160.64 million. During the same period in the prior year, the business posted $0.62 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis.
NYSE MSGN traded up $0.51 during trading hours on Friday, reaching $17.37. 642,540 shares of the company’s stock traded hands, 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 firm has a market cap of $1.26 billion, a PE ratio of 7.06 and a beta of 0.68. The firm has a 50-day simple moving average of $16.40 and a 200 day simple moving average of $18.92.
Several equities research analysts have recently commented on MSGN shares. Zacks Investment Research cut shares of MSG Networks from a “buy” rating to a “sell” rating in a research report on Wednesday. Macquarie lowered their price target 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. Guggenheim lowered their price target on shares of MSG Networks from $24.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Rosenblatt Securities set a $15.00 price target on shares of MSG Networks and gave the company a “hold” rating in a research report on Wednesday, August 21st. Finally, Evercore ISI cut shares of MSG Networks from an “in-line” rating to an “underperform” rating in a research report on Wednesday, August 21st. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently 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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