MSG Networks Inc (MSGN) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.59 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.50. The company posted revenue of $179.60 million in the period, compared to analysts expectations of $174.24 million. The company’s revenue was up 6.3% compared to the same quarter last year.
Many Wall Street Analysts have commented on MSG Networks Inc. MSG Networks Inc was Downgraded by Albert Fried to ” Market Perform” on Apr 29, 2016. MSG Networks Inc was Initiated by Pacific Crest to “Sector Weight” on Mar 29, 2016. Credit Agricole Initiated MSG Networks Inc on Mar 9, 2016 to “Underperform”, Price Target of the shares are set at $19.
In a different news, on Mar 2, 2016, James Lawrence Dolan (Executive Chairman) sold 66,000 shares at $16.53 per share price.
MSG Networks Inc. formerly The Madison Square Garden Company is engaged in sports entertainment and media business. The Company’s businesses include MSG Sports and MSG Entertainment. MSG Sports business includes sports business which owns and operates the sports franchises such as the New York Knicks (the Knicks) of the National Basketball Association (the NBA) and the New York Rangers (the Rangers) of the National Hockey League (the NHL). MSG Entertainment business includes entertainment business which presents or hosts live entertainment events including concerts family shows performing arts and special events. In addition the Company also owns and operates regional sports networks under its MSG Media business including MSG Network (MSG) and MSG+; in addition to the live streaming and video on demand platform MSG GO.