FOX (NASDAQ:FOXA) Announces Quarterly Earnings Results

FOX (NASDAQ:FOXA) posted its quarterly earnings results on Monday. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.17, Zacks reports. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The business’s revenue was up 26.8% compared to the same quarter last year.

FOX Trading Up 4.9%

FOX stock traded up $2.48 during trading hours on Monday, reaching $52.72. The stock had a trading volume of 2,795,083 shares, compared to its average volume of 3,420,485. The stock has a market cap of $23.90 billion, a PE ratio of 11.32, a PEG ratio of 1.27 and a beta of 0.51. FOX has a 52 week low of $32.45 and a 52 week high of $58.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The company has a fifty day simple moving average of $51.35 and a 200-day simple moving average of $49.95.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group set a $60.00 price target on shares of FOX and gave the company a “buy” rating in a research note on Tuesday, February 4th. Wolfe Research lowered shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price target for the company. in a research note on Monday, April 7th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Barclays decreased their target price on shares of FOX from $50.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Finally, Guggenheim reissued a “buy” rating and set a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.65.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 21.77% 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.