Equities research analysts expect MSG Networks Inc (NYSE:MSGN) to announce sales of $185.47 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for MSG Networks’ earnings. The highest sales estimate is $186.00 million and the lowest is $185.10 million. MSG Networks posted sales of $181.22 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.3%. The business is expected to report its next quarterly earnings report on Thursday, February 7th.
On average, analysts expect that MSG Networks will report full-year sales of $714.64 million for the current fiscal year, with estimates ranging from $706.00 million to $718.59 million. For the next fiscal year, analysts anticipate that the company will post sales of $725.09 million, with estimates ranging from $717.00 million to $732.90 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow MSG Networks.
MSG Networks (NYSE:MSGN) last posted its quarterly earnings data on Friday, November 2nd. The company reported $0.62 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.62. MSG Networks had a negative return on equity of 27.90% and a net margin of 41.87%. The firm had revenue of $164.46 million during the quarter, compared to the consensus estimate of $162.59 million. During the same period in the prior year, the company earned $0.54 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year.
A number of analysts have issued reports on MSGN shares. Imperial Capital started coverage on MSG Networks in a research note on Tuesday, August 21st. They issued an “outperform” rating and a $29.00 target price for the company. Zacks Investment Research raised MSG Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 target price on shares of MSG Networks in a research note on Friday, August 17th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $27.33.
NYSE MSGN opened at $25.14 on Thursday. MSG Networks has a one year low of $17.95 and a one year high of $28.13. The firm has a market capitalization of $1.88 billion, a P/E ratio of 6.60, a PEG ratio of 1.09 and a beta of 0.75.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Ariel Investments LLC lifted its stake in MSG Networks by 0.5% during the second quarter. Ariel Investments LLC now owns 9,114,348 shares of the company’s stock worth $218,289,000 after purchasing an additional 45,018 shares during the last quarter. BlackRock Inc. lifted its stake in MSG Networks by 6.9% during the third quarter. BlackRock Inc. now owns 4,282,734 shares of the company’s stock worth $110,493,000 after purchasing an additional 275,391 shares during the last quarter. Channing Capital Management LLC lifted its stake in MSG Networks by 68.5% during 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. Gamco Investors INC. ET AL lifted its stake in MSG Networks by 1.0% during the second quarter. Gamco Investors INC. ET AL now owns 2,044,489 shares of the company’s stock worth $48,966,000 after purchasing an additional 20,574 shares during the last quarter. Finally, FMR LLC lifted its stake in MSG Networks by 399.9% during the third quarter. FMR LLC now owns 1,750,025 shares of the company’s stock worth $45,151,000 after purchasing an additional 1,399,964 shares during the last quarter. Institutional investors and hedge funds own 85.08% of the company’s stock.
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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