$0.63 EPS Expected for MSG Networks Inc (MSGN) This Quarter

Brokerages forecast that MSG Networks Inc (NYSE:MSGN) will post earnings per share of $0.63 for the current quarter, according to Zacks. Three analysts have issued estimates for MSG Networks’ earnings, with estimates ranging from $0.62 to $0.64. MSG Networks reported earnings per share of $0.58 during the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The company is scheduled to issue its next earnings results on Friday, May 4th.

According to Zacks, analysts expect that MSG Networks will report full-year earnings of $3.80 per share for the current financial year, with EPS estimates ranging from $3.79 to $3.82. For the next year, analysts expect that the business will report earnings of $2.62 per share, with EPS estimates ranging from $2.41 to $2.79. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow MSG Networks.

MSG Networks (NYSE:MSGN) last posted its earnings results on Thursday, February 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.11. MSG Networks had a net margin of 40.97% and a negative return on equity of 19.52%. The business had revenue of $181.20 million for the quarter, compared to analyst estimates of $179.73 million. During the same period in the prior year, the company posted $0.57 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis.

Several research firms have recently issued reports on MSGN. Morgan Stanley lowered shares of MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 target price on the stock. in a research note on Tuesday, October 31st. ValuEngine lowered shares of MSG Networks from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Guggenheim increased their target price on shares of MSG Networks from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Zacks Investment Research lowered shares of MSG Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Finally, Bank of America increased their target price on shares of MSG Networks from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. MSG Networks has a consensus rating of “Buy” and a consensus price target of $25.00.

MSG Networks (NYSE:MSGN) traded up $0.20 during mid-day trading on Friday, hitting $25.30. 51,074 shares of the stock traded hands, compared to its average volume of 597,506. The company has a debt-to-equity ratio of -1.62, a quick ratio of 3.11 and a current ratio of 3.11. MSG Networks has a twelve month low of $16.15 and a twelve month high of $26.30. The stock has a market cap of $1,885.86, a price-to-earnings ratio of 6.80, a P/E/G ratio of 1.03 and a beta of 0.77.

MSG Networks declared that its Board of Directors has authorized a share buyback plan on Friday, December 8th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

A number of institutional investors have recently modified their holdings of the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in MSG Networks by 660.2% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 438,439 shares of the company’s stock valued at $8,878,000 after buying an additional 380,763 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in MSG Networks in the 4th quarter valued at about $597,000. Element Capital Management LLC acquired a new stake in MSG Networks in the 4th quarter valued at about $4,252,000. Millennium Management LLC raised its holdings in MSG Networks by 4.0% in the 4th quarter. Millennium Management LLC now owns 535,950 shares of the company’s stock valued at $10,853,000 after acquiring an additional 20,381 shares during the last quarter. Finally, HBK Investments L P raised its holdings in MSG Networks by 45.6% in the 4th quarter. HBK Investments L P now owns 116,628 shares of the company’s stock valued at $2,362,000 after acquiring an additional 36,528 shares during the last quarter. 81.42% of the stock is currently 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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Earnings History and Estimates for MSG Networks (NYSE:MSGN)

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