MSG Networks Inc (NYSE:MSGN) – Stock analysts at KeyCorp reduced their Q2 2019 earnings per share estimates for shares of MSG Networks in a report issued on Wednesday, August 15th. KeyCorp analyst E. Wingren now anticipates that the company will post earnings of $0.62 per share for the quarter, down from their previous estimate of $0.64. KeyCorp also issued estimates for MSG Networks’ Q3 2019 earnings at $0.67 EPS, Q4 2019 earnings at $0.68 EPS, FY2019 earnings at $2.58 EPS, Q1 2020 earnings at $0.66 EPS, Q2 2020 earnings at $0.65 EPS, Q3 2020 earnings at $0.72 EPS, Q4 2020 earnings at $0.73 EPS and FY2020 earnings at $2.76 EPS.

Several other equities research analysts have also issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price objective on shares of MSG Networks in a research note on Friday. Zacks Investment Research lowered shares of MSG Networks from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. ValuEngine raised shares of MSG Networks from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 19th. Morgan Stanley reduced their price objective on shares of MSG Networks from $23.00 to $19.00 and set an “underweight” rating for the company in a research note on Friday, June 1st. Finally, BTIG Research lowered shares of MSG Networks from a “buy” rating to a “neutral” rating in a research note on Monday, April 30th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. MSG Networks presently has a consensus rating of “Hold” and an average price target of $24.83.

MSGN stock opened at $24.45 on Monday. The company has a debt-to-equity ratio of -1.64, a current ratio of 2.61 and a quick ratio of 2.61. MSG Networks has a 1 year low of $16.15 and a 1 year high of $26.30. The firm has a market capitalization of $1.74 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 1.38 and a beta of 0.76.

MSG Networks (NYSE:MSGN) last released its quarterly earnings data on Wednesday, August 15th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. MSG Networks had a net margin of 41.18% and a negative return on equity of 21.60%. The business had revenue of $171.40 million during the quarter, compared to analyst estimates of $166.01 million. During the same quarter in the previous year, the business earned $0.52 EPS. MSG Networks’s quarterly revenue was up 5.2% compared to the same quarter last year.

A number of institutional investors have recently added to or reduced their stakes in MSGN. Channing Capital Management LLC acquired a new position in MSG Networks during the 2nd quarter worth $31,512,000. Citadel Advisors LLC lifted its position in MSG Networks by 4,728.5% during the 2nd quarter. Citadel Advisors LLC now owns 771,789 shares of the company’s stock worth $18,484,000 after acquiring an additional 755,805 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in MSG Networks by 98.2% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,359,656 shares of the company’s stock worth $32,564,000 after acquiring an additional 673,483 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in MSG Networks by 164.2% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 687,000 shares of the company’s stock worth $16,454,000 after acquiring an additional 427,000 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in MSG Networks during the 2nd quarter worth $8,675,000. 84.53% of the stock is owned by hedge funds and other institutional investors.

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.

Recommended Story: How Do You Make Money With Penny Stocks?

Earnings History and Estimates for MSG Networks (NYSE:MSGN)

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.