Imperial Capital Comments on MSG Networks Inc’s Q3 2019 Earnings (MSGN)
MSG Networks Inc (NYSE:MSGN) – Analysts at Imperial Capital lifted their Q3 2019 earnings per share estimates for MSG Networks in a research report issued to clients and investors on Thursday, January 17th. Imperial Capital analyst D. Miller now forecasts that the company will post earnings of $0.69 per share for the quarter, up from their prior estimate of $0.68. Imperial Capital currently has a “Outperform” rating and a $32.00 target price on the stock. Imperial Capital also issued estimates for MSG Networks’ FY2019 earnings at $2.61 EPS and Q1 2020 earnings at $0.67 EPS.
MSGN has been the topic of several other reports. ValuEngine upgraded shares of MSG Networks from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Zacks Investment Research upgraded shares of MSG Networks from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, October 17th. Finally, Guggenheim lowered shares of MSG Networks from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.33.
MSG Networks (NYSE:MSGN) last issued its quarterly earnings data on Friday, November 2nd. The company reported $0.62 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 firm had revenue of $164.46 million for the quarter, compared to analyst estimates of $162.59 million. During the same period in the prior year, the business posted $0.54 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP increased its stake in MSG Networks by 4.3% during the 3rd quarter. First Trust Advisors LP now owns 71,773 shares of the company’s stock worth $1,852,000 after buying an additional 2,960 shares during the period. Brown Advisory Inc. increased its stake in MSG Networks by 35.2% during the 3rd quarter. Brown Advisory Inc. now owns 14,007 shares of the company’s stock worth $361,000 after buying an additional 3,649 shares during the period. BlueMountain Capital Management LLC increased its stake in MSG Networks by 14.3% during the 3rd quarter. BlueMountain Capital Management LLC now owns 29,660 shares of the company’s stock worth $765,000 after buying an additional 3,700 shares during the period. Tributary Capital Management LLC increased its stake in MSG Networks by 0.6% during the 3rd quarter. Tributary Capital Management LLC now owns 586,269 shares of the company’s stock worth $15,126,000 after buying an additional 3,783 shares during the period. Finally, Legal & General Group Plc increased its stake in MSG Networks by 22.2% during the 3rd quarter. Legal & General Group Plc now owns 23,909 shares of the company’s stock worth $617,000 after buying an additional 4,346 shares during the period. 85.17% of the stock is currently owned by hedge funds and other institutional investors.
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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