Q2 2019 EPS Estimates for MSG Networks Inc Increased by Analyst (MSGN)

MSG Networks Inc (NYSE:MSGN) – Equities researchers at Imperial Capital lifted their Q2 2019 EPS estimates for MSG Networks in a research report issued on Thursday, November 29th. Imperial Capital analyst D. Miller now forecasts that the company will post earnings of $0.63 per share for the quarter, up from their prior forecast of $0.62. Imperial Capital has a “Outperform” rating and a $32.00 price target on the stock. Imperial Capital also issued estimates for MSG Networks’ Q2 2020 earnings at $0.66 EPS and FY2020 earnings at $2.77 EPS.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research raised shares of MSG Networks from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 price target on shares of MSG Networks in a report on Friday, August 17th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.33.

MSG Networks stock opened at $26.78 on Monday. The firm has a market capitalization of $2.00 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 1.16 and a beta of 0.71. MSG Networks has a 52-week low of $17.45 and a 52-week high of $28.13.

MSG Networks (NYSE:MSGN) last released its quarterly earnings data on Friday, November 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.62. MSG Networks had a net margin of 41.87% and a negative return on equity of 27.90%. The company had revenue of $164.46 million during the quarter, compared to analyst estimates of $162.59 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MSGN. Amalgamated Bank acquired a new stake in MSG Networks during the 3rd quarter valued at $208,000. Canandaigua National Bank & Trust Co. bought a new position in MSG Networks during the 2nd quarter valued at $216,000. Principal Financial Group Inc. bought a new position in MSG Networks during the 1st quarter valued at $218,000. Meeder Asset Management Inc. boosted its stake in MSG Networks by 446.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,952 shares of the company’s stock valued at $231,000 after acquiring an additional 7,314 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in MSG Networks during the 3rd quarter valued at $237,000. 87.11% of the stock is owned by institutional investors and hedge funds.

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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