MSG Networks Inc (NYSE:MSGN) Expected to Announce Quarterly Sales of $189.57 Million

Equities analysts predict that MSG Networks Inc (NYSE:MSGN) will post sales of $189.57 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for MSG Networks’ earnings. The highest sales estimate is $189.80 million and the lowest is $189.34 million. MSG Networks posted sales of $192.91 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.7%. The firm is expected to issue its next earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that MSG Networks will report full-year sales of $706.57 million for the current financial year, with estimates ranging from $698.14 million to $713.98 million. For the next year, analysts forecast that the firm will report sales of $697.80 million, with estimates ranging from $687.71 million to $706.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for MSG Networks.

MSG Networks (NYSE:MSGN) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). The business had revenue of $160.98 million for the quarter, compared to the consensus estimate of $160.64 million. MSG Networks had a net margin of 25.42% and a negative return on equity of 33.28%. MSG Networks’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 EPS.

Several research firms have recently issued reports on MSGN. Imperial Capital dropped their price target on shares of MSG Networks from $32.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Cannonball Research set a $17.00 price objective on shares of MSG Networks and gave the stock a “hold” rating in a research report on Monday, September 9th. Evercore ISI cut shares of MSG Networks from an “in-line” rating to an “underperform” rating in a research report on Wednesday, August 21st. Macquarie decreased their price objective on shares of MSG Networks from $22.00 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities set a $15.00 price target on shares of MSG Networks and gave the stock a “hold” rating in a report on Wednesday, August 21st. Five analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. MSG Networks currently has a consensus rating of “Hold” and a consensus target price of $17.81.

Shares of MSGN stock traded down $0.09 during trading hours on Friday, hitting $15.84. 672,026 shares of the company’s stock traded hands, compared to its average volume of 734,947. The stock’s 50 day simple moving average is $16.76 and its 200 day simple moving average is $18.05. The stock has a market cap of $1.21 billion, a PE ratio of 6.44 and a beta of 0.69. MSG Networks has a 12 month low of $13.73 and a 12 month high of $25.79.

Several hedge funds and other institutional investors have recently modified their holdings of MSGN. Public Employees Retirement System of Ohio raised its position in MSG Networks by 71.3% in the third quarter. Public Employees Retirement System of Ohio now owns 1,691 shares of the company’s stock worth $27,000 after acquiring an additional 704 shares during the period. First Republic Investment Management Inc. raised its position in MSG Networks by 7.4% in the second quarter. First Republic Investment Management Inc. now owns 10,805 shares of the company’s stock worth $224,000 after acquiring an additional 746 shares during the period. HighTower Advisors LLC raised its position in MSG Networks by 3.7% in the second quarter. HighTower Advisors LLC now owns 21,226 shares of the company’s stock worth $441,000 after acquiring an additional 767 shares during the period. Jennison Associates LLC raised its position in MSG Networks by 2.1% in the second quarter. Jennison Associates LLC now owns 37,612 shares of the company’s stock worth $780,000 after acquiring an additional 788 shares during the period. Finally, Resources Investment Advisors LLC. raised its position in MSG Networks by 99.4% in the second quarter. Resources Investment Advisors LLC. now owns 2,006 shares of the company’s stock worth $42,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 82.65% of the company’s stock.

About MSG Networks

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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