Zacks: Analysts Expect MSG Networks Inc (MSGN) Will Announce Earnings of $0.62 Per Share

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Equities research analysts expect MSG Networks Inc (NYSE:MSGN) to report earnings of $0.62 per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for MSG Networks’ earnings, with estimates ranging from $0.59 to $0.65. MSG Networks posted earnings per share of $0.65 during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.6%. The business is expected to announce its next quarterly earnings results on Thursday, February 7th.

According to Zacks, analysts expect that MSG Networks will report full-year earnings of $2.57 per share for the current financial year, with EPS estimates ranging from $2.46 to $2.73. For the next year, analysts expect that the business will report earnings of $2.72 per share, with EPS estimates ranging from $2.43 to $3.00. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for MSG Networks.

MSG Networks (NYSE:MSGN) last issued its quarterly earnings results on Friday, November 2nd. The company reported $0.62 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.62. The business had revenue of $164.46 million during the quarter, compared to analyst estimates of $162.59 million. MSG Networks had a net margin of 41.87% and a negative return on equity of 27.90%. MSG Networks’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share.

A number of analysts have commented on MSGN shares. Zacks Investment Research raised shares of MSG Networks from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, October 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 target price on shares of MSG Networks in a report on Friday, August 17th. Imperial Capital lifted their target price on shares of MSG Networks to $32.00 and gave the stock an “outperform” rating in a report on Friday, October 19th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of MSG Networks from a “strong sell” rating to a “sell” rating in a report on Thursday, July 19th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $27.33.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ariel Investments LLC grew its holdings in MSG Networks by 0.5% during the 2nd quarter. Ariel Investments LLC now owns 9,114,348 shares of the company’s stock worth $218,289,000 after acquiring an additional 45,018 shares during the period. BlackRock Inc. grew its holdings in MSG Networks by 6.9% during the 3rd quarter. BlackRock Inc. now owns 4,282,734 shares of the company’s stock worth $110,493,000 after acquiring an additional 275,391 shares during the period. Gamco Investors INC. ET AL grew its holdings in MSG Networks by 1.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 2,044,489 shares of the company’s stock worth $48,966,000 after acquiring an additional 20,574 shares during the period. FMR LLC grew its holdings in MSG Networks by 399.9% during the 3rd quarter. FMR LLC now owns 1,750,025 shares of the company’s stock worth $45,151,000 after acquiring an additional 1,399,964 shares during the period. Finally, Gabelli Funds LLC grew its holdings in MSG Networks by 0.5% during the 3rd quarter. Gabelli Funds LLC now owns 1,418,400 shares of the company’s stock worth $36,595,000 after acquiring an additional 6,800 shares during the period. 84.01% of the stock is owned by hedge funds and other institutional investors.

Shares of MSG Networks stock opened at $25.53 on Friday. The company has a market capitalization of $1.88 billion, a P/E ratio of 6.70, a P/E/G ratio of 1.09 and a beta of 0.71. MSG Networks has a fifty-two week low of $16.15 and a fifty-two week high of $28.13.

About MSG Networks

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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