Equities research analysts expect MSG Networks Inc (NYSE:MSGN) to report sales of $185.65 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for MSG Networks’ earnings. The lowest sales estimate is $185.30 million and the highest is $186.00 million. MSG Networks reported sales of $181.22 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.4%. The company is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, February 5th.
According to Zacks, analysts expect that MSG Networks will report full-year sales of $714.44 million for the current year, with estimates ranging from $706.00 million to $718.59 million. For the next year, analysts expect that the business will report sales of $726.03 million, with estimates ranging from $717.00 million to $732.90 million. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for MSG Networks.
MSG Networks (NYSE:MSGN) last announced its quarterly earnings data on Friday, November 2nd. The company reported $0.62 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.62. The business had revenue of $164.46 million during the quarter, compared to the consensus estimate of $162.59 million. MSG Networks had a negative return on equity of 27.90% and a net margin of 41.87%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 earnings per share.
A number of research firms have issued reports on MSGN. ValuEngine raised MSG Networks from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Zacks Investment Research raised MSG Networks from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Tuesday. Imperial Capital boosted their price target on MSG Networks to $32.00 and gave the stock an “outperform” rating in a research note on Friday, October 19th. They noted that the move was a valuation call. Finally, Guggenheim cut MSG Networks from a “buy” rating to a “neutral” rating in a research note on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. MSG Networks has an average rating of “Hold” and a consensus price target of $26.83.
Several large investors have recently bought and sold shares of MSGN. Amalgamated Bank bought a new position in MSG Networks during the 3rd quarter valued at $208,000. Meeder Asset Management Inc. boosted its stake in MSG Networks by 446.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,952 shares of the company’s stock valued at $231,000 after purchasing an additional 7,314 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in MSG Networks during the 3rd quarter valued at $237,000. Verition Fund Management LLC bought a new position in MSG Networks during the 3rd quarter valued at $262,000. Finally, Brown Advisory Inc. boosted its stake in MSG Networks by 35.2% during the 3rd quarter. Brown Advisory Inc. now owns 14,007 shares of the company’s stock valued at $361,000 after purchasing an additional 3,649 shares in the last quarter. 85.17% of the stock is owned by institutional investors.
Shares of NYSE:MSGN traded down $0.05 during midday trading on Monday, reaching $22.27. The company’s stock had a trading volume of 4,960 shares, compared to its average volume of 417,890. The company has a market cap of $1.63 billion, a P/E ratio of 5.85, a P/E/G ratio of 0.80 and a beta of 0.85. MSG Networks has a 1 year low of $17.95 and a 1 year high of $28.13.
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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