FOX (NASDAQ:FOXA) Issues Earnings Results

FOX (NASDAQ:FOXA) posted its quarterly earnings data on Monday. The company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.02 by $0.52, Briefing.com reports. FOX had a net margin of 9.84% and a return on equity of 20.64%. During the same period last year, the business posted $1.51 earnings per share. The business’s revenue for the quarter was up 22.3% on a year-over-year basis.

FOX Stock Performance

Shares of FOXA opened at $63.24 on Monday. FOX has a 52-week low of $48.34 and a 52-week high of $76.39. The stock’s 50-day simple moving average is $65.09 and its 200 day simple moving average is $62.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The stock has a market capitalization of $26.54 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.10 and a beta of 0.60.

FOX Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were paid a $0.29 dividend. This represents a yield of 86.0%. The ex-dividend date was Wednesday, September 2nd. FOX’s payout ratio is currently 15.14%.

Insider Buying and Selling at FOX

In other news, CEO Lachlan Murdoch acquired 149,934 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average cost of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the transaction, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 20.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FOXA shares. Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $80.00 target price on shares of FOX in a research report on Friday, August 14th. Fox Advisors set a $85.00 target price on FOX in a research note on Friday, October 16th. Rothschild & Co Redburn raised shares of FOX from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Friday, July 10th. Finally, Raymond James Financial upgraded shares of FOX to a “strong-buy” rating in a research report on Friday, October 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, FOX presently has an average rating of “Moderate Buy” and an average price target of $76.94.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.