MSG Networks (MSGN) Posts Earnings Results, Beats Expectations By $0.05 EPS
MSG Networks (NYSE:MSGN) announced its quarterly earnings results on Wednesday. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05, Bloomberg Earnings reports. The business had revenue of $171.40 million for the quarter, compared to analysts’ expectations of $166.01 million. MSG Networks had a negative return on equity of 21.60% and a net margin of 41.18%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS.
MSGN opened at $23.70 on Friday. MSG Networks has a 12 month low of $16.15 and a 12 month high of $26.30. The company has a debt-to-equity ratio of -1.64, a quick ratio of 2.61 and a current ratio of 2.61. The company has a market capitalization of $1.74 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.38 and a beta of 0.76.
A number of analysts have recently weighed in on the company. ValuEngine upgraded MSG Networks from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 16th. Zacks Investment Research upgraded MSG Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. BTIG Research cut MSG Networks from a “buy” rating to a “neutral” rating in a research report on Monday, April 30th. Finally, Morgan Stanley dropped their price target on MSG Networks from $23.00 to $19.00 and set an “underweight” rating on the stock in a research report on Friday, June 1st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. MSG Networks currently has a consensus rating of “Hold” and a consensus price target of $24.17.
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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