MSG Networks Inc (NYSE:MSGN) Expected to Announce Earnings of $0.61 Per Share

Share on StockTwits

Equities analysts expect MSG Networks Inc (NYSE:MSGN) to post $0.61 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for MSG Networks’ earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.65. MSG Networks posted earnings of $0.60 per share during the same quarter last year, which would suggest a positive year over year growth rate of 1.7%. The company is scheduled to report its next earnings report on Wednesday, August 21st.

According to Zacks, analysts expect that MSG Networks will report full-year earnings of $2.53 per share for the current financial year, with EPS estimates ranging from $2.50 to $2.56. For the next financial year, analysts anticipate that the business will post earnings of $2.56 per share, with EPS estimates ranging from $2.44 to $2.72. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow MSG Networks.

MSG Networks (NYSE:MSGN) last announced its earnings results on Thursday, May 2nd. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.67 by $0.05. MSG Networks had a negative return on equity of 32.61% and a net margin of 26.27%. The company had revenue of $195.10 million for the quarter, compared to analyst estimates of $192.03 million. During the same quarter in the prior year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year.

A number of research analysts recently weighed in on MSGN shares. ValuEngine downgraded MSG Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, March 15th. Zacks Investment Research raised MSG Networks from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, April 10th. Morgan Stanley dropped their price objective on MSG Networks from $22.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, May 3rd. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $23.00 price objective on shares of MSG Networks in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. MSG Networks presently has a consensus rating of “Hold” and a consensus price target of $24.60.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in MSG Networks by 13.1% in the 1st quarter. BlackRock Inc. now owns 5,187,552 shares of the company’s stock worth $112,829,000 after acquiring an additional 602,206 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in MSG Networks by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 4,068,197 shares of the company’s stock worth $88,483,000 after buying an additional 25,685 shares during the period. FMR LLC boosted its holdings in MSG Networks by 130.5% in the 4th quarter. FMR LLC now owns 4,034,258 shares of the company’s stock worth $95,046,000 after buying an additional 2,284,233 shares during the period. Dimensional Fund Advisors LP boosted its holdings in MSG Networks by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,193,925 shares of the company’s stock worth $47,718,000 after buying an additional 32,252 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in MSG Networks by 7.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,749,196 shares of the company’s stock worth $38,045,000 after buying an additional 118,161 shares during the period. 87.47% of the stock is currently owned by institutional investors.

MSGN stock traded up $0.42 during trading on Wednesday, reaching $21.07. 879,310 shares of the stock were exchanged, compared to its average volume of 536,737. MSG Networks has a twelve month low of $20.05 and a twelve month high of $28.13. The company has a market cap of $1.62 billion, a P/E ratio of 5.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82.

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 are CEFs?

Get a free copy of the Zacks research report on MSG Networks (MSGN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for MSG Networks (NYSE:MSGN)

Receive News & Ratings for MSG Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSG Networks and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

MKM Partners Lowers ADTRAN  Price Target to $17.00
MKM Partners Lowers ADTRAN Price Target to $17.00
Apple  PT Raised to $180.00 at Nomura
Apple PT Raised to $180.00 at Nomura
Advaxis  Lowered to “Hold” at ValuEngine
Advaxis Lowered to “Hold” at ValuEngine
Zacks Investment Research Upgrades Atlas Air Worldwide  to “Hold”
Zacks Investment Research Upgrades Atlas Air Worldwide to “Hold”
Apple  Raised to “Outperform” at Raymond James
Apple Raised to “Outperform” at Raymond James
Zacks Investment Research Lowers Agilysys  to Hold
Zacks Investment Research Lowers Agilysys to Hold


© 2006-2019 Ticker Report