MSG Networks Inc (NYSE:MSGN) – Research analysts at Imperial Capital decreased their Q1 2020 earnings per share (EPS) estimates for MSG Networks in a research report issued on Wednesday, June 12th. Imperial Capital analyst D. Miller now anticipates that the company will earn $0.65 per share for the quarter, down from their prior forecast of $0.66. Imperial Capital also issued estimates for MSG Networks’ Q3 2020 earnings at $0.70 EPS, Q4 2020 earnings at $0.67 EPS and FY2020 earnings at $2.69 EPS.
Several other equities research analysts have also recently weighed in on MSGN. ValuEngine cut shares of MSG Networks from a “sell” rating to a “strong sell” rating in a research report on Friday, March 15th. Zacks Investment Research raised shares of MSG Networks from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Wednesday, April 10th. Morgan Stanley lowered their price target on shares of MSG Networks from $22.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, May 3rd. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $23.00 target price on shares of MSG Networks in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. MSG Networks has a consensus rating of “Hold” and a consensus price target of $24.60.
Shares of MSGN opened at $21.07 on Thursday. MSG Networks has a fifty-two week low of $20.05 and a fifty-two week high of $28.13. The company has a market capitalization of $1.55 billion, a PE ratio of 5.53, a price-to-earnings-growth ratio of 2.50 and a beta of 0.82.
MSG Networks (NYSE:MSGN) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.05. MSG Networks had a net margin of 26.27% and a negative return on equity of 32.61%. The company had revenue of $195.10 million during the quarter, compared to analysts’ expectations of $192.03 million. During the same period in the previous year, the company earned $0.62 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in MSG Networks by 13.1% during the 1st quarter. BlackRock Inc. now owns 5,187,552 shares of the company’s stock valued at $112,829,000 after purchasing an additional 602,206 shares in the last quarter. Clearbridge Investments LLC increased its stake in MSG Networks by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 4,068,197 shares of the company’s stock valued at $88,483,000 after purchasing an additional 25,685 shares in the last quarter. FMR LLC increased its stake in MSG Networks by 130.5% during the 4th quarter. FMR LLC now owns 4,034,258 shares of the company’s stock valued at $95,046,000 after purchasing an additional 2,284,233 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in MSG Networks by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,193,925 shares of the company’s stock valued at $47,718,000 after purchasing an additional 32,252 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in MSG Networks by 7.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,749,196 shares of the company’s stock valued at $38,045,000 after purchasing an additional 118,161 shares in the last quarter. 87.47% of the stock is owned by institutional investors.
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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