Wall Street analysts expect MSG Networks Inc (NYSE:MSGN) to announce sales of $193.27 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for MSG Networks’ earnings, with the lowest sales estimate coming in at $192.29 million and the highest estimate coming in at $194.25 million. MSG Networks reported sales of $195.11 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.9%. The firm is scheduled to announce its next earnings results on Thursday, May 7th.
On average, analysts expect that MSG Networks will report full year sales of $704.22 million for the current fiscal year, with estimates ranging from $699.36 million to $707.74 million. For the next financial year, analysts anticipate that the company will post sales of $690.33 million, with estimates ranging from $672.69 million to $706.45 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for MSG Networks.
MSG Networks (NYSE:MSGN) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.06). MSG Networks had a negative return on equity of 32.08% and a net margin of 25.06%. The business had revenue of $187.73 million for the quarter, compared to analysts’ expectations of $188.55 million. During the same quarter in the prior year, the business earned $0.58 EPS. The company’s revenue was down 2.7% compared to the same quarter last year.
MSGN stock traded up $0.06 during mid-day trading on Monday, hitting $8.92. The company had a trading volume of 694,155 shares, compared to its average volume of 857,407. The company has a market capitalization of $613.68 million, a price-to-earnings ratio of 3.58, a P/E/G ratio of 0.56 and a beta of 0.99. MSG Networks has a 12-month low of $8.52 and a 12-month high of $23.83. The company has a 50-day moving average price of $12.84 and a 200 day moving average price of $15.61.
In other MSG Networks news, CEO Andrea Greenberg sold 51,667 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $16.11, for a total transaction of $832,355.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 26.55% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its stake in shares of 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 buying an additional 704 shares in the last quarter. Vigilant Capital Management LLC purchased a new position in shares of MSG Networks in the fourth quarter worth about $32,000. Great West Life Assurance Co. Can purchased a new position in shares of MSG Networks in the fourth quarter worth about $62,000. Islay Capital Management LLC purchased a new position in shares of MSG Networks in the fourth quarter worth about $83,000. Finally, NumerixS Investment Technologies Inc lifted its stake in shares of MSG Networks by 368.4% in the fourth quarter. NumerixS Investment Technologies Inc now owns 8,900 shares of the company’s stock worth $155,000 after buying an additional 7,000 shares in the last quarter. 93.38% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Story: Back-End Load
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MSG Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSG Networks and related companies with MarketBeat.com's FREE daily email newsletter.