MSG Networks Inc (MSGN) Expected to Announce Quarterly Sales of $191.62 Million

Equities analysts predict that MSG Networks Inc (NYSE:MSGN) will report sales of $191.62 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for MSG Networks’ earnings. The lowest sales estimate is $191.33 million and the highest is $191.90 million. MSG Networks reported sales of $186.57 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.7%. The company is scheduled to report its next earnings report on Thursday, May 2nd.

According to Zacks, analysts expect that MSG Networks will report full year sales of $724.02 million for the current fiscal year, with estimates ranging from $719.00 million to $728.37 million. For the next fiscal year, analysts forecast that the company will report sales of $734.90 million, with estimates ranging from $729.00 million to $743.40 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for MSG Networks.

MSG Networks (NYSE:MSGN) last issued its quarterly earnings data on Tuesday, February 5th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.05). The business had revenue of $192.90 million for the quarter, compared to analyst estimates of $186.33 million. MSG Networks had a negative return on equity of 28.99% and a net margin of 25.57%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 EPS.

A number of research firms have issued reports on MSGN. ValuEngine upgraded MSG Networks from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Zacks Investment Research upgraded MSG Networks from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Tuesday, January 22nd. Finally, Guggenheim cut MSG Networks from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. MSG Networks has an average rating of “Hold” and an average price target of $25.00.

Shares of MSG Networks stock opened at $22.08 on Friday. The firm has a market cap of $1.63 billion, a P/E ratio of 5.80, a price-to-earnings-growth ratio of 0.76 and a beta of 0.77. MSG Networks has a 12 month low of $17.95 and a 12 month high of $28.13.

Hedge funds have recently added to or reduced their stakes in the business. Athena Capital Advisors LLC bought a new position in MSG Networks during the 4th quarter worth about $36,000. Loeb Partners Corp bought a new position in shares of MSG Networks in the 4th quarter valued at about $47,000. Amalgamated Bank bought a new position in shares of MSG Networks in the 3rd quarter valued at about $208,000. Advisor Group Inc. grew its holdings in shares of MSG Networks by 54.4% in the 4th quarter. Advisor Group Inc. now owns 9,667 shares of the company’s stock valued at $227,000 after acquiring an additional 3,407 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of MSG Networks in the 3rd quarter valued at about $237,000. Hedge funds and other institutional investors own 88.10% 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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