FOX (NASDAQ:FOXA) Posts Earnings Results

FOX (NASDAQ:FOXA) issued its earnings results on Tuesday. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34, Zacks reports. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share.

FOX Stock Up 5.2 %

Shares of NASDAQ:FOXA opened at $54.64 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $55.56. The stock has a market cap of $24.96 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 1.25 and a beta of 0.76. The firm’s 50 day moving average price is $48.63 and its 200 day moving average price is $43.95.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FOXA shares. Barclays boosted their target price on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Citigroup raised their price objective on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Macquarie reissued a “neutral” rating and set a $43.00 price objective on shares of FOX in a research report on Tuesday, November 5th. Bank of America upped their target price on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Guggenheim lifted their price target on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.25.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 21.77% of the company’s stock.

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.