fuboTV (NYSE:FUBO) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

fuboTV (NYSE:FUBO) posted its earnings results on Friday. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04, Briefing.com reports. fuboTV had a negative net margin of 0.71% and a negative return on equity of 7.67%. During the same quarter last year, the business posted ($0.02) EPS. fuboTV’s revenue for the quarter was up 38.0% on a year-over-year basis.

fuboTV Price Performance

FUBO opened at $10.22 on Friday. The company has a fifty day simple moving average of $9.46 and a 200 day simple moving average of $12.42. The firm has a market cap of $308.59 million, a price-to-earnings ratio of -7.98 and a beta of 2.40. fuboTV has a twelve month low of $7.95 and a twelve month high of $56.64. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Analyst Ratings Changes

Several research firms have commented on FUBO. Evercore started coverage on fuboTV in a research report on Friday, May 1st. They issued an “outperform” rating and a $18.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of fuboTV in a research report on Wednesday, August 5th. Zacks Research lowered fuboTV from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of fuboTV in a report on Friday, June 12th. Finally, Citigroup reiterated a “market outperform” rating on shares of fuboTV in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, fuboTV presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.83.

Insider Transactions at fuboTV

In other fuboTV news, COO Alberto Horihuela sold 141,074 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $10.38, for a total value of $1,464,348.12. Following the transaction, the chief operating officer owned 141,074 shares in the company, valued at $1,464,348.12. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.30% of the stock is owned by company insiders.

Institutional Trading of fuboTV

Hedge funds and other institutional investors have recently modified their holdings of the business. Hurley Capital LLC acquired a new position in shares of fuboTV in the fourth quarter worth about $25,000. Focus Partners Wealth purchased a new position in fuboTV in the first quarter valued at about $30,000. WINTON GROUP Ltd acquired a new stake in fuboTV during the 4th quarter valued at approximately $37,000. First Trust Advisors LP acquired a new stake in fuboTV during the 2nd quarter valued at approximately $44,000. Finally, CTC Alternative Strategies Ltd. purchased a new stake in fuboTV during the 2nd quarter worth approximately $54,000. 39.31% of the stock is owned by hedge funds and other institutional investors.

fuboTV Company Profile

fuboTV Inc is a sports-focused live TV streaming platform that provides subscribers with access to a broad range of televised sports, news and entertainment programming. The service offers tiered channel packages featuring major networks such as ESPN, Fox Sports, NBC and regional sports networks, along with bundled options for premium channels and international programming. A core element of fuboTV’s proposition is its cloud DVR functionality, which enables users to record live events and store them for later viewing.

In addition to its live television offerings, fuboTV has developed an in-house ad-supported streaming network—fubo Sports Network—that delivers original sports news, analysis and highlights.