Brokerages forecast that MSG Networks Inc (NYSE:MSGN) will post earnings per share of $0.62 for the current quarter, according to Zacks. Three analysts have issued estimates for MSG Networks’ earnings. The highest EPS estimate is $0.64 and the lowest is $0.60. MSG Networks posted earnings per share of $0.54 during the same quarter last year, which indicates a positive year over year growth rate of 14.8%. The company is expected to report its next earnings report on Thursday, November 1st.

According to Zacks, analysts expect that MSG Networks will report full year earnings of $2.57 per share for the current financial year, with EPS estimates ranging from $2.43 to $2.68. For the next fiscal year, analysts expect that the firm will post earnings of $2.69 per share, with EPS estimates ranging from $2.41 to $2.87. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that follow MSG Networks.

MSG Networks (NYSE:MSGN) last announced its quarterly earnings results on Wednesday, August 15th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. MSG Networks had a negative return on equity of 24.41% and a net margin of 41.46%. The business had revenue of $171.40 million for the quarter, compared to analyst estimates of $166.01 million. During the same quarter in the prior year, the company posted $0.52 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis.

Several equities analysts have recently commented on MSGN shares. Zacks Investment Research lowered MSG Networks from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Imperial Capital started coverage on MSG Networks in a research note on Tuesday, August 21st. They issued an “outperform” rating and a $29.00 price target on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price target on shares of MSG Networks in a research note on Friday, August 17th. Finally, ValuEngine raised MSG Networks from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $27.33.

Institutional investors have recently made changes to their positions in the company. Ariel Investments LLC lifted its stake in MSG Networks by 0.5% during the 2nd quarter. Ariel Investments LLC now owns 9,114,348 shares of the company’s stock worth $218,289,000 after acquiring an additional 45,018 shares in the last quarter. BlackRock Inc. lifted its stake in MSG Networks by 4.0% during the 2nd quarter. BlackRock Inc. now owns 4,007,343 shares of the company’s stock worth $95,977,000 after acquiring an additional 155,426 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in MSG Networks by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,125,048 shares of the company’s stock worth $48,026,000 after acquiring an additional 21,690 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in MSG Networks by 1.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 2,044,489 shares of the company’s stock worth $48,966,000 after acquiring an additional 20,574 shares in the last quarter. Finally, Gabelli Funds LLC lifted its stake in MSG Networks by 0.6% during the 2nd quarter. Gabelli Funds LLC now owns 1,411,600 shares of the company’s stock worth $33,808,000 after acquiring an additional 9,000 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of MSG Networks stock traded up $1.08 during trading hours on Wednesday, hitting $27.59. The company’s stock had a trading volume of 1,016,196 shares, compared to its average volume of 462,832. MSG Networks has a twelve month low of $16.15 and a twelve month high of $27.83. The firm has a market cap of $1.98 billion, a PE ratio of 7.24, a price-to-earnings-growth ratio of 1.23 and a beta of 0.77. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of -1.70.

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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