FOX (NASDAQ:FOXA) Announces Earnings Results

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

FOX Stock Performance

Shares of NASDAQ:FOXA traded up $0.78 during trading on Tuesday, hitting $43.78. 1,168,267 shares of the company traded hands, compared to its average volume of 2,953,253. FOX has a one year low of $28.28 and a one year high of $45.82. The stock has a market capitalization of $20.15 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 1.90 and a beta of 0.76. 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 business’s fifty day moving average is $41.39 and its 200-day moving average is $37.34.

Analyst Ratings Changes

FOXA has been the topic of a number of analyst reports. Bank of America increased their target price on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. The Goldman Sachs Group increased their target price on FOX from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company raised their price objective on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday. Macquarie restated a “neutral” rating and set a $43.00 price objective on shares of FOX in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $43.31.

Insiders Place Their Bets

In other FOX news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.77% of the stock is owned by corporate insiders.

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.