Zacks: Brokerages Anticipate MSG Networks Inc. (MSGN) Will Post Quarterly Sales of $179.98 Million

Wall Street analysts expect MSG Networks Inc. (NYSE:MSGN) to report sales of $179.98 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for MSG Networks’ earnings, with the highest sales estimate coming in at $180.60 million and the lowest estimate coming in at $179.43 million. MSG Networks posted sales of $175.65 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.5%. The firm is expected to announce its next quarterly earnings report on Thursday, February 1st.

According to Zacks, analysts expect that MSG Networks will report full-year sales of $179.98 million for the current fiscal year, with estimates ranging from $688.80 million to $696.00 million. For the next year, analysts expect that the business will post sales of $706.79 million per share, with estimates ranging from $700.83 million to $714.70 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow MSG Networks.

MSG Networks (NYSE:MSGN) last posted its earnings results on Thursday, November 2nd. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The business had revenue of $157.46 million during the quarter, compared to the consensus estimate of $157.21 million. MSG Networks had a negative return on equity of 17.40% and a net margin of 24.77%. MSG Networks’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS.

MSGN has been the subject of several analyst reports. Loop Capital upgraded MSG Networks from a “sell” rating to a “hold” rating and set a $19.00 target price for the company in a research report on Monday, August 7th. Jefferies Group LLC restated a “hold” rating and set a $22.00 target price on shares of MSG Networks in a research report on Monday, August 14th. FBN Securities raised MSG Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 30th. ValuEngine cut MSG Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of MSG Networks in a report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. MSG Networks currently has a consensus rating of “Hold” and a consensus price target of $23.86.

MSG Networks (NYSE:MSGN) traded down $0.85 during trading on Monday, hitting $16.65. The company had a trading volume of 847,596 shares, compared to its average volume of 554,936. The company has a debt-to-equity ratio of -1.35, a current ratio of 2.75 and a quick ratio of 2.75. The company has a market cap of $1,316.59, a P/E ratio of 7.92, a PEG ratio of 9.07 and a beta of 0.74. MSG Networks has a 1-year low of $16.15 and a 1-year high of $25.30.

A number of hedge funds have recently added to or reduced their stakes in MSGN. BlackRock Inc. increased its holdings in MSG Networks by 33,563.0% during the 1st quarter. BlackRock Inc. now owns 3,898,845 shares of the company’s stock valued at $91,038,000 after purchasing an additional 3,887,263 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in MSG Networks by 2,476.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,017,985 shares of the company’s stock valued at $22,854,000 after purchasing an additional 978,470 shares in the last quarter. Vanguard Group Inc. increased its holdings in MSG Networks by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,667,275 shares of the company’s stock valued at $149,681,000 after purchasing an additional 360,354 shares in the last quarter. American Century Companies Inc. increased its holdings in MSG Networks by 37.9% during the 2nd quarter. American Century Companies Inc. now owns 1,302,569 shares of the company’s stock valued at $29,243,000 after purchasing an additional 358,009 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in shares of MSG Networks by 108.7% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 673,448 shares of the company’s stock valued at $14,277,000 after buying an additional 350,696 shares during the period. 77.50% of the stock is owned by hedge funds and other institutional investors.

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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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