Madison Square Garden Sports Corp (MSGS) is down by $3.04 (-1.66%) after announcing a deal for MSG Entertainment to acquire MSG Networks in an all-stock, fixed exchange ratio transaction. Here's Why MSGN Stock Is Down Friday It seems the merger will be tax-free for both MSG Entertainment and MSG Networks, as well as their stockholders.
Full Answer
What is MSG Networks' stock price targets for the next 12 months?
On average, they anticipate MSG Networks' stock price to reach $14.00 in the next twelve months. This suggests that the stock has a possible downside of 1.2%. View analysts' price targets for MSG Networks or view top-rated stocks among Wall Street analysts.
Who buys MSGN stock?
MSGN stock was bought by a variety of institutional investors in the last quarter, including Ariel Investments LLC, Systematic Financial Management LP, IndexIQ Advisors LLC, Deutsche Bank AG, Qube Research & Technologies Ltd, Hotchkis & Wiley Capital Management LLC, F3Logic LLC, and FMR LLC.
What is the return on equity for MSG Networks?
MSG Networks had a net margin of 28.10% and a negative trailing twelve-month return on equity of 36.42%. The company's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 earnings per share.
Why did Microsoft stock close 3% lower on Tuesday?
Microsoft ( MSFT 0.17%) shares closed 3.3% lower on Tuesday after the U.S. Department of Labor reported that producer price inflation hit a historic high in November, up 9.6% from a year ago. This news came on top of a reported 6.8% jump in consumer prices that came out yesterday -- the fastest rate of price growth in 40 years.
What happened to MSGN?
Madison Square Garden Entertainment (NYSE:MSGE) has closed its acquisition of MSG Networks (NYSE:MSGN), bringing together the MSG media and entertainment assets. That results in a company with greater scale and revenue diversity, MSGE says, and enhanced financial flexibility.
Is Madison Square Garden a good stock?
There are currently 1 hold rating and 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" Madison Square Garden Sports stock.
What is MSGN stock?
Key Turning Points52-Week High20.90Fibonacci 50%14.73Last Price14.17Fibonacci 38.2%13.2852-Week Low8.571 more row•Jul 8, 2021
What does MSG own?
About Madison Square Garden Entertainment Corp. MSG Entertainment is a world leader in live entertainment. The Company's portfolio of iconic venues includes: New York's Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre; and The Chicago Theatre.
Is Madison Square Garden profitable?
Madison Square Garden revenue from 2010 to 2022. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services....Compare MSGS With Other Stocks.Madison Square Garden Annual Revenue (Millions of US $)2019$7292018$7122017$1,3182016$1,11510 more rows
Does James Dolan own MSG?
Dolan will remain the executive chairman of MSG Sports, the company which houses all of Madison Square Garden's sports teams and holdings, and the executive chairman and CEO of MSG Entertainment, which owns the arena and MSG's live entertainment business.
Is Madison Square Garden closing?
The old Madison Square Garden will be demolished and it's 250,000-square-foot site between 33rd 31st Streets will be repurposed as a large public square that will sit above Penn Station's loading platforms and in front of a glassy new entrance atrium that was announced by the Governor last month.
How were MSG Networks' earnings last quarter?
MSG Networks Inc. (NYSE:MSGN) released its quarterly earnings results on Friday, May, 7th. The company reported $0.78 EPS for the quarter, beating...
Who are MSG Networks' key executives?
MSG Networks' management team includes the following people: Mr. James Lawrence Dolan , Exec. Chairman (Age 66, Pay $3.76M) Ms. Andrea Greenberg...
Who are some of MSG Networks' key competitors?
Some companies that are related to MSG Networks include Liberty Latin America (LILA) , Liberty Latin America (LILAK) , WideOpenWest (WOW) , Qur...
What other stocks do shareholders of MSG Networks own?
Based on aggregate information from My MarketBeat watchlists, some companies that other MSG Networks investors own include FTS International (FTSI...
What is MSG Networks' stock symbol?
MSG Networks trades on the New York Stock Exchange (NYSE) under the ticker symbol "MSGN."
What is MSG Networks' stock price today?
One share of MSGN stock can currently be purchased for approximately $14.17.
How much money does MSG Networks make?
MSG Networks (NYSE:MSGN) has a market capitalization of $803.59 million and generates $685.80 million in revenue each year. The company earns $185....
How many employees does MSG Networks have?
MSG Networks employs 475 workers across the globe.
What is MSG Networks' official website?
The official website for MSG Networks is www.msgnetworks.com .
What happened
Microsoft ( MSFT -2.59% ) shares closed 3.3% lower on Tuesday after the U.S. Department of Labor reported that producer price inflation hit a historic high in November, up 9.6% from a year ago. This news came on top of a reported 6.8% jump in consumer prices that came out yesterday -- the fastest rate of price growth in 40 years.
So what
Reporting on Microsoft's price decline, Bloomberg drew a direct line from the inflation data to the weakness in Microsoft's stock price. But why exactly is inflation bad news for Microsoft (and other tech stocks as well)?
Now what
Granted, the Federal Reserve will probably work to get inflation rates under control, but even there, the news isn't all great because the Fed's primary tool for containing inflation is raising interest rates.
When did MSG acquire MSG?
Item 2.01 Completion of Acquisition or Disposition of Assets. On July 9, 2021, Madison Square Garden Entertainment Corp., a Delaware corporation (" MSG Entertainment "), completed its previously announced acquisition of MSG Networks Inc., a Delaware corporation (" MSG Networks pursuant to that certain Agreement and Plan of Merger, ...
Who controls MSG Entertainment?
Prior to the Merger, MSG Entertainment and MSG Networks operated as independent public companies both under common control by the Dolan family group. Because the Dolan family group controls both MSG Entertainment and MSG Networks, the Merger does not involve a change of control.
Is MSG stock undervalued?
The stock of MSG Networks ( NYSE:MSGN, 30-year Financials) is estimated to be modestly undervalued, according to GuruFocus Value calculation. GuruFocus Value is GuruFocus' estimate of the fair value at which the stock should be traded. It is calculated based on the historical multiples that the stock has traded at, the past business growth and analyst estimates of future business performance. If the price of a stock is significantly above the GF Value Line, it is overvalued and its future return is likely to be poor. On the other hand, if it is significantly below the GF Value Line, its future return will likely be higher. At its current price of $15.38 per share and the market cap of $877.4 million, MSG Networks stock gives every indication of being modestly undervalued. GF Value for MSG Networks is shown in the chart below.
Is MSG Networks profitable?
It poses less risk to invest in profitable companies, especially those that have demonstrated consistent profitability over the long term. A company with high profit margins is also typically a safer investment than one with low profit margins. MSG Networks has been profitable 10 over the past 10 years. Over the past twelve months, the company had a revenue of $640.7 million and earnings of $3.07 a share. Its operating margin is 45.32%, which ranks better than 97% of the companies in the industry of Media - Diversified. Overall, GuruFocus ranks the profitability of MSG Networks at 8 out of 10, which indicates strong profitability. This is the revenue and net income of MSG Networks over the past years:
