Wall Street brokerages expect MSG Networks Inc (NYSE:MSGN) to announce $0.60 earnings per share for the current quarter, according to Zacks. Four analysts have provided estimates for MSG Networks’ earnings, with the lowest EPS estimate coming in at $0.51 and the highest estimate coming in at $0.85. MSG Networks posted earnings of $0.52 per share during the same quarter last year, which suggests a positive year over year growth rate of 15.4%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 15th.
On average, analysts expect that MSG Networks will report full year earnings of $3.75 per share for the current year, with EPS estimates ranging from $3.73 to $3.76. For the next financial year, analysts expect that the firm will report earnings of $2.66 per share, with EPS estimates ranging from $2.39 to $2.96. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow MSG Networks.
MSG Networks (NYSE:MSGN) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $0.62 earnings per share for the quarter, meeting the consensus estimate of $0.62. MSG Networks had a net margin of 41.18% and a negative return on equity of 21.60%. The business had revenue of $186.60 million for the quarter, compared to the consensus estimate of $187.92 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis.
Several equities analysts have weighed in on the stock. ValuEngine raised shares of MSG Networks from a “strong sell” rating to a “sell” rating in a report on Saturday, June 16th. Zacks Investment Research upgraded shares of MSG Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. BTIG Research cut shares of MSG Networks from a “buy” rating to a “neutral” rating in a research report on Monday, April 30th. Finally, Morgan Stanley reduced their price objective on shares of MSG Networks from $23.00 to $19.00 and set an “underweight” rating on the stock in a research report on Friday, June 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. MSG Networks currently has a consensus rating of “Hold” and a consensus price target of $24.17.
Institutional investors have recently added to or reduced their stakes in the company. Ellington Management Group LLC increased its position in MSG Networks by 42.7% in the fourth quarter. Ellington Management Group LLC now owns 15,700 shares of the company’s stock worth $318,000 after purchasing an additional 4,700 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in MSG Networks by 36.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 21,700 shares of the company’s stock worth $490,000 after purchasing an additional 5,800 shares during the last quarter. Atlantic Trust Group LLC bought a new stake in MSG Networks in the first quarter worth $136,000. Tower Research Capital LLC TRC increased its position 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 worth $241,000 after purchasing an additional 6,645 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in MSG Networks by 53.2% during the fourth quarter. Schroder Investment Management Group now owns 19,300 shares of the company’s stock valued at $391,000 after acquiring an additional 6,700 shares during the last quarter. Hedge funds and other institutional investors own 81.26% of the company’s stock.
Shares of MSG Networks opened at $23.40 on Monday, Marketbeat Ratings reports. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of -1.64. MSG Networks has a 1-year low of $16.15 and a 1-year high of $26.30. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 1.49 and a beta of 0.76.
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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