FOX (NASDAQ:FOX) Posts Quarterly Earnings Results, Beats Expectations By $0.35 EPS

FOX (NASDAQ:FOX) issued its quarterly earnings results on Tuesday. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.61 by $0.35, RTT News reports. FOX had a return on equity of 16.49% and a net margin of 13.40%. During the same quarter in the previous year, the business earned $0.34 earnings per share.

FOX Trading Down 1.1 %

Shares of FOX stock traded down $0.56 during trading hours on Thursday, hitting $50.71. The company’s stock had a trading volume of 79,901 shares, compared to its average volume of 987,184. FOX has a twelve month low of $25.82 and a twelve month high of $52.54. The firm has a fifty day moving average of $46.24 and a 200-day moving average of $41.20. The stock has a market cap of $23.16 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.76 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is presently 13.20%.

Wall Street Analyst Weigh In

FOX has been the subject of several analyst reports. Moffett Nathanson cut FOX from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Barclays upgraded FOX to a “hold” rating in a report on Wednesday, October 9th.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 771,024 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total transaction of $35,521,075.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 23.06% of the company’s stock.

About FOX

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.