FOX (NASDAQ:FOXA) Posts Earnings Results, Beats Expectations By $0.33 EPS

FOX (NASDAQ:FOXA) posted its quarterly earnings results on Monday. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33, Briefing.com reports. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share.

FOX Stock Performance

Shares of NASDAQ FOXA traded up $0.78 during trading hours on Tuesday, hitting $43.78. 1,168,267 shares of the company’s stock were exchanged, compared to its average volume of 2,953,253. The stock has a market capitalization of $20.15 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 1.90 and a beta of 0.76. The company’s 50-day moving average price is $41.39 and its 200-day moving average price is $37.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. FOX has a 1-year low of $28.28 and a 1-year high of $45.82.

Insider Transactions at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO John Nallen sold 52,874 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FOXA shares. Cfra reiterated a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Loop Capital raised their price objective on shares of FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group boosted their price objective on shares of FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Guggenheim boosted their target price on FOX from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $43.31.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.