FOX (NASDAQ:FOXA) Issues Quarterly Earnings Results

FOX (NASDAQ:FOXA) released its quarterly earnings results on Monday. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.90 by $0.20, Zacks reports. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter last year, the business earned $1.40 EPS.

FOX Trading Up 5.0%

Shares of FOXA traded up $2.53 on Monday, hitting $52.77. 951,534 shares of the stock traded hands, compared to its average volume of 4,097,973. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $23.93 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.27 and a beta of 0.51. The stock’s 50 day moving average is $51.35 and its two-hundred day moving average is $49.95. FOX has a 1 year low of $32.45 and a 1 year high of $58.74.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FOXA shares. JPMorgan Chase & Co. raised their price objective on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Morgan Stanley raised their price objective on shares of FOX from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. UBS Group lowered their price objective on shares of FOX from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of FOX in a research report on Tuesday, March 25th. Finally, Cfra Research raised shares of FOX from a “hold” rating to a “moderate buy” rating in a report on Monday, April 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.65.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This 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 hyperlink. 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.