Wall Street analysts expect MSG Networks Inc (NYSE:MSGN) to announce earnings per share (EPS) of $0.63 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for MSG Networks’ earnings. The lowest EPS estimate is $0.62 and the highest is $0.64. MSG Networks posted earnings of $0.58 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The firm is expected to issue its next quarterly earnings results on Friday, May 4th.
According to Zacks, analysts expect that MSG Networks will report full-year earnings of $3.80 per share for the current financial year, with EPS estimates ranging from $3.79 to $3.82. For the next financial year, analysts anticipate that the firm will report earnings of $2.62 per share, with EPS estimates ranging from $2.41 to $2.79. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow MSG Networks.
MSG Networks (NYSE:MSGN) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.11. The company had revenue of $181.20 million for the quarter, compared to analyst estimates of $179.73 million. MSG Networks had a net margin of 40.97% and a negative return on equity of 19.52%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 earnings per share.
A number of equities analysts have recently issued reports on MSGN shares. Morgan Stanley lowered shares of MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 target price on the stock. in a research report on Tuesday, October 31st. Jefferies Group lowered their target price on shares of MSG Networks from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. ValuEngine lowered shares of MSG Networks from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Bank of America raised their target price on shares of MSG Networks from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Finally, Zacks Investment Research lowered shares of MSG Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. MSG Networks has an average rating of “Buy” and a consensus target price of $25.00.
Several hedge funds and other institutional investors have recently modified their holdings of MSGN. Rockefeller Financial Services Inc. lifted its holdings in shares of MSG Networks by 200.0% during the third quarter. Rockefeller Financial Services Inc. now owns 6,975 shares of the company’s stock worth $148,000 after purchasing an additional 4,650 shares during the period. Koch Industries Inc. acquired a new stake in MSG Networks in the second quarter valued at $213,000. Tower Research Capital LLC TRC lifted its holdings in MSG Networks by 126.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,881 shares of the company’s stock valued at $241,000 after acquiring an additional 6,645 shares during the period. Magnetar Financial LLC acquired a new stake in MSG Networks in the third quarter valued at $300,000. Finally, First Republic Investment Management Inc. acquired a new stake in MSG Networks in the fourth quarter valued at $306,000. 81.42% of the stock is owned by hedge funds and other institutional investors.
Shares of MSG Networks (MSGN) traded up $0.40 on Friday, hitting $25.05. 362,861 shares of the stock were exchanged, compared to its average volume of 606,779. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of -1.62. The stock has a market capitalization of $1,889.63, a price-to-earnings ratio of 10.96, a PEG ratio of 1.03 and a beta of 0.77. MSG Networks has a twelve month low of $16.15 and a twelve month high of $26.30.
MSG Networks announced that its Board of Directors has authorized a stock buyback program on Friday, December 8th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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MSG Networks Company Profile
MSG Networks Inc, formerly The Madison Square Garden Company, is engaged in sports production, and content development and distribution. The Company owns and operates two regional sports and entertainment networks, MSG Network (MSGN) and MSG+, collectively MSG Networks. Its networks are distributed throughout its territory, which includes all of New York State and significant portions of New Jersey and Connecticut, as well as parts of Pennsylvania.
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