MSG Networks Inc (NYSE:MSGN) – Research analysts at Imperial Capital increased their Q2 2020 earnings per share estimates for MSG Networks in a research report issued on Tuesday, March 12th. Imperial Capital analyst D. Miller now expects that the company will post earnings of $0.67 per share for the quarter, up from their previous estimate of $0.66. Imperial Capital also issued estimates for MSG Networks’ Q3 2020 earnings at $0.71 EPS and FY2020 earnings at $2.78 EPS.
Several other equities analysts also recently commented on the company. ValuEngine upgraded MSG Networks from a “strong sell” rating to a “sell” rating in a research report on Friday, February 8th. Zacks Investment Research downgraded MSG Networks from a “buy” rating to a “hold” rating in a research report on Friday, January 25th. Finally, Guggenheim downgraded MSG Networks from a “buy” rating to a “neutral” rating in a research report on Monday, January 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $25.00.
MSG Networks (NYSE:MSGN) last announced its quarterly earnings data on Tuesday, February 5th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.05). MSG Networks had a net margin of 25.57% and a negative return on equity of 28.99%. The business had revenue of $192.90 million during the quarter, compared to analysts’ expectations of $186.33 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share. MSG Networks’s revenue was up 6.5% on a year-over-year basis.
Several hedge funds have recently modified their holdings of MSGN. FMR LLC increased its holdings in shares of MSG Networks by 130.5% in the fourth quarter. FMR LLC now owns 4,034,258 shares of the company’s stock worth $95,046,000 after purchasing an additional 2,284,233 shares during the last quarter. Norges Bank bought a new stake in shares of MSG Networks in the fourth quarter worth about $23,737,000. Channing Capital Management LLC increased its holdings in shares of MSG Networks by 68.5% in the third quarter. Channing Capital Management LLC now owns 2,216,838 shares of the company’s stock worth $57,194,000 after purchasing an additional 901,094 shares during the last quarter. Oak Ridge Investments LLC bought a new stake in shares of MSG Networks in the fourth quarter worth about $11,082,000. Finally, Morgan Stanley increased its holdings in shares of MSG Networks by 227.9% in the third quarter. Morgan Stanley now owns 515,259 shares of the company’s stock worth $13,294,000 after purchasing an additional 358,123 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.
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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