MSG Networks (NYSE:MSGN) Releases Earnings Results

MSG Networks (NYSE:MSGN) issued 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 business had revenue of $160.98 million for the quarter, compared to analyst estimates of $160.64 million. MSG Networks had a negative return on equity of 34.89% and a net margin of 25.83%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the company posted $0.62 earnings per share.

Shares of MSGN stock traded up $0.51 during trading hours on Friday, reaching $17.37. The stock had a trading volume of 642,540 shares, 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 firm has a 50-day simple moving average of $16.40 and a 200-day simple moving average of $18.92. The firm has a market capitalization of $1.26 billion, a PE ratio of 7.06 and a beta of 0.68.

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A number of analysts have weighed in on the stock. Evercore ISI cut shares of MSG Networks from an “in-line” rating to an “underperform” rating in a report on Wednesday, August 21st. Macquarie dropped their target price on shares of MSG Networks from $22.00 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Imperial Capital dropped their target price on shares of MSG Networks from $32.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Cannonball Research set a $17.00 target price on shares of MSG Networks and gave the stock a “hold” rating in a report on Monday, September 9th. Finally, Morgan Stanley dropped their target price on shares of MSG Networks from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Friday. 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. The stock has a consensus rating of “Hold” and a consensus 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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Earnings History for MSG Networks (NYSE:MSGN)

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