MSG Networks (NYSE:MSGN) Announces Earnings Results

MSG Networks (NYSE:MSGN) issued its quarterly earnings data on Thursday, November 7th. The company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.01), Briefing.com reports. MSG Networks had a net margin of 25.42% and a negative return on equity of 33.28%. The company had revenue of $160.98 million for the quarter, compared to analyst estimates of $160.64 million. During the same period in the prior year, the company posted $0.62 EPS. The business’s revenue was down 2.1% on a year-over-year basis.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

MSGN stock traded down $0.33 during midday trading on Friday, reaching $18.07. 572,194 shares of the company’s stock traded hands, compared to its average volume of 788,183. The company has a 50-day simple moving average of $16.48 and a two-hundred day simple moving average of $18.76. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 7.35 and a beta of 0.68. MSG Networks has a 1-year low of $13.73 and a 1-year high of $27.85.

Several analysts recently weighed in on MSGN shares. Macquarie decreased their target price on MSG Networks from $22.00 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Rosenblatt Securities set a $15.00 target price on MSG Networks and gave the company a “hold” rating in a research note on Wednesday, August 21st. Morgan Stanley decreased their target price on MSG Networks from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. Guggenheim decreased their target price on MSG Networks from $24.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Finally, Cannonball Research set a $17.00 price objective on MSG Networks and gave the stock a “hold” rating in a research report on Monday, September 9th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. MSG Networks has an average rating of “Hold” and an average price target of $17.69.

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.

Featured Article: What strategies should day traders use to execute a trade?

Earnings History for MSG Networks (NYSE:MSGN)

Leave a Reply

Your email address will not be published. Required fields are marked *

*