KeyCorp Equities Analysts Lower Earnings Estimates for MSG Networks Inc (NYSE:MSGN)

MSG Networks Inc (NYSE:MSGN) – Investment analysts at KeyCorp dropped their Q4 2019 earnings per share (EPS) estimates for shares of MSG Networks in a research report issued to clients and investors on Thursday, May 2nd, according to Zacks Investment Research. KeyCorp analyst E. Wingren now expects that the company will earn $0.61 per share for the quarter, down from their prior estimate of $0.66. KeyCorp also issued estimates for MSG Networks’ Q1 2020 earnings at $0.63 EPS, Q2 2020 earnings at $0.66 EPS, Q3 2020 earnings at $0.72 EPS and Q4 2020 earnings at $0.63 EPS.

MSG Networks (NYSE:MSGN) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.05. The company had revenue of $195.10 million for the quarter, compared to the consensus estimate of $192.03 million. MSG Networks had a negative return on equity of 32.61% and a net margin of 26.27%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 EPS.

Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded MSG Networks from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, April 10th. Rosenblatt Securities reiterated a “neutral” rating and set a $23.00 target price on shares of MSG Networks in a research note on Monday, May 6th. ValuEngine upgraded MSG Networks from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley cut their target price on MSG Networks from $22.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $24.60.

Shares of MSG Networks stock traded up $0.10 during midday trading on Monday, hitting $20.72. The company had a trading volume of 344,287 shares, compared to its average volume of 873,014. The company has a market capitalization of $1.59 billion, a P/E ratio of 5.44, a PEG ratio of 1.73 and a beta of 0.78. MSG Networks has a 52-week low of $18.90 and a 52-week high of $28.13.

A number of institutional investors and hedge funds have recently modified their holdings of MSGN. Quadrant Capital Group LLC bought a new position in shares of MSG Networks during the 1st quarter valued at $25,000. Athena Capital Advisors LLC bought a new position in shares of MSG Networks during the 4th quarter valued at $36,000. Meeder Asset Management Inc. lifted its holdings in shares of 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 buying an additional 1,078 shares during the period. Loeb Partners Corp bought a new position in shares of MSG Networks during the 4th quarter valued at $47,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of 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 buying an additional 4,576 shares during the period. Institutional investors and hedge funds own 87.47% of the company’s stock.

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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