MSG Networks Inc (MSGN) to Post Q4 2018 Earnings of $0.58 Per Share, KeyCorp Forecasts

MSG Networks Inc (NYSE:MSGN) – KeyCorp increased their Q4 2018 earnings per share estimates for MSG Networks in a research note issued to investors on Thursday. KeyCorp analyst E. Wingren now anticipates that the company will post earnings per share of $0.58 for the quarter, up from their prior forecast of $0.54. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for MSG Networks’ Q1 2019 earnings at $0.64 EPS and Q2 2019 earnings at $0.63 EPS.

Several other research firms have also recently issued reports on MSGN. ValuEngine cut MSG Networks from a “buy” rating to a “hold” rating in a research report on Friday. Guggenheim upped their price objective on MSG Networks from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Morgan Stanley upped their price objective on MSG Networks from $20.00 to $23.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 31st. Zacks Investment Research raised MSG Networks from a “sell” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday. Finally, Bank of America upped their price objective on MSG Networks from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $25.00.

MSG Networks (NYSE:MSGN) opened at $25.80 on Monday. The stock has a market capitalization of $1,941.04, a PE ratio of 11.27, a PEG ratio of 3.28 and a beta of 0.77. MSG Networks has a 1 year low of $16.15 and a 1 year high of $26.30. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of -1.62.

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

MSG Networks announced that its Board of Directors has initiated a share repurchase plan on Friday, December 8th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC boosted its position in shares of MSG Networks by 3.3% in the 2nd quarter. HighTower Advisors LLC now owns 20,039 shares of the company’s stock valued at $448,000 after purchasing an additional 648 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of MSG Networks by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 253,057 shares of the company’s stock valued at $5,682,000 after purchasing an additional 2,307 shares during the period. California Public Employees Retirement System boosted its position in shares of MSG Networks by 2.0% in the 2nd quarter. California Public Employees Retirement System now owns 135,800 shares of the company’s stock valued at $3,049,000 after purchasing an additional 2,700 shares during the period. Ameriprise Financial Inc. boosted its position in shares of MSG Networks by 18.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 22,777 shares of the company’s stock valued at $512,000 after purchasing an additional 3,572 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of MSG Networks by 36.8% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 13,968 shares of the company’s stock valued at $314,000 after purchasing an additional 3,758 shares during the period. 80.47% of the stock is owned by hedge funds and other institutional investors.

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About MSG Networks

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.

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

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