MSG Networks Inc (NYSE:MSGN) Expected to Post Earnings of $0.61 Per Share

Equities research analysts expect MSG Networks Inc (NYSE:MSGN) to announce earnings per share of $0.61 for the current quarter, according to Zacks. Two analysts have made estimates for MSG Networks’ earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.58. MSG Networks reported earnings per share of $0.60 during the same quarter last year, which would suggest a positive year over year growth rate of 1.7%. The firm is expected to announce its next quarterly earnings report before the market opens on Wednesday, August 21st.

On average, analysts expect that MSG Networks will report full-year earnings of $2.53 per share for the current year, with EPS estimates ranging from $2.50 to $2.56. For the next year, analysts expect that the firm will post earnings of $2.52 per share, with EPS estimates ranging from $2.37 to $2.69. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for MSG Networks.

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities set a $23.00 price target on shares of MSG Networks and gave the stock a “hold” rating in a research note on Thursday, June 20th. JPMorgan Chase & Co. cut shares of MSG Networks from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $23.00 to $19.00 in a research note on Friday, July 19th. Zacks Investment Research raised shares of MSG Networks from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Morgan Stanley decreased their price target on shares of MSG Networks from $20.00 to $17.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, ValuEngine cut shares of MSG Networks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. MSG Networks currently has an average rating of “Hold” and an average target price of $23.20.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC acquired a new stake in MSG Networks during the 1st quarter valued at $25,000. Resources Investment Advisors LLC. lifted its holdings in MSG Networks by 99.4% during the 2nd quarter. Resources Investment Advisors LLC. now owns 2,006 shares of the company’s stock valued at $42,000 after purchasing an additional 1,000 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in MSG Networks by 103.0% during the 1st quarter. Meeder Asset Management Inc. now owns 2,125 shares of the company’s stock valued at $46,000 after purchasing an additional 1,078 shares during the last quarter. Shine Investment Advisory Services Inc. lifted its holdings in MSG Networks by 21.5% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 3,354 shares of the company’s stock valued at $70,000 after purchasing an additional 594 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in MSG Networks by 196.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 6,901 shares of the company’s stock valued at $151,000 after purchasing an additional 4,576 shares during the last quarter. 86.92% of the stock is owned by institutional investors.

Shares of MSGN traded up $0.23 during mid-day trading on Tuesday, hitting $17.15. 366,600 shares of the company’s stock were exchanged, compared to its average volume of 556,940. The company has a market cap of $1.27 billion, a PE ratio of 4.50, a P/E/G ratio of 2.06 and a beta of 0.72. MSG Networks has a 52 week low of $16.34 and a 52 week high of $28.13. The company has a 50-day simple moving average of $19.44 and a 200 day simple moving average of $21.60.

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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Earnings History and Estimates for MSG Networks (NYSE:MSGN)

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