FOX (NASDAQ:FOXA) Issues Quarterly Earnings Results, Beats Estimates By $0.33 EPS

FOX (NASDAQ:FOXA) issued its quarterly earnings data on Monday. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33, Briefing.com reports. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the business earned $1.09 EPS. The business’s revenue was up 11.1% on a year-over-year basis.

FOX Stock Performance

FOXA traded up $0.92 during midday trading on Wednesday, hitting $44.52. 222,074 shares of the company traded hands, compared to its average volume of 2,971,547. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average is $41.44 and its 200 day moving average is $37.42. FOX has a 52 week low of $28.28 and a 52 week high of $45.82. The firm has a market capitalization of $20.49 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76.

Insider Activity at FOX

In related news, CEO Lachlan K. Murdoch bought 119,705 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the purchase, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other FOX news, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Cfra reiterated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Evercore ISI boosted their price objective on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price objective on shares of FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday. Rosenblatt Securities raised their price objective on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $44.00.

FOX Company Profile

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.