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.
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.
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