MSG Networks Inc (NYSE:MSGN) – Gabelli reduced their FY2019 earnings estimates for shares of MSG Networks in a research report issued to clients and investors on Thursday, August 16th. Gabelli analyst B. Harriss now expects that the company will post earnings of $2.54 per share for the year, down from their previous forecast of $2.63. Gabelli also issued estimates for MSG Networks’ FY2020 earnings at $2.87 EPS, FY2021 earnings at $3.06 EPS, FY2022 earnings at $3.26 EPS and FY2023 earnings at $3.47 EPS.
MSG Networks (NYSE:MSGN) last released its earnings results on Wednesday, August 15th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.05. MSG Networks had a net margin of 41.46% and a negative return on equity of 24.41%. The firm had revenue of $171.40 million during the quarter, compared to analyst estimates of $166.01 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year.
Other analysts have also issued research reports about the stock. Imperial Capital assumed coverage on shares of MSG Networks in a research note on Tuesday. They set an “outperform” rating and a $29.00 target price for the company. Zacks Investment Research upgraded shares of MSG Networks from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine upgraded shares of MSG Networks from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 19th. BTIG Research lowered shares of MSG Networks from a “buy” rating to a “neutral” rating in a research note on Monday, April 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $23.00 target price on shares of MSG Networks in a research note on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. MSG Networks presently has a consensus rating of “Hold” and a consensus price target of $25.43.
MSGN stock opened at $25.25 on Monday. The company has a debt-to-equity ratio of -1.70, a current ratio of 3.04 and a quick ratio of 3.04. MSG Networks has a 1-year low of $16.15 and a 1-year high of $26.30. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 6.63, a price-to-earnings-growth ratio of 1.15 and a beta of 0.76.
Several institutional investors have recently added to or reduced their stakes in MSGN. Mount Yale Investment Advisors LLC bought a new position in shares of MSG Networks during the first quarter worth about $120,000. Atlantic Trust Group LLC bought a new position in shares of MSG Networks during the first quarter worth about $136,000. Sentinel Trust Co. LBA bought a new position in shares of MSG Networks during the first quarter worth about $203,000. Canandaigua National Bank & Trust Co. bought a new position in shares of MSG Networks during the second quarter worth about $216,000. Finally, Principal Financial Group Inc. bought a new position in shares of MSG Networks during the first quarter worth about $218,000. Institutional investors and hedge funds own 86.23% 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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