Pivotal Research downgraded shares of Twenty-First Century Fox (NASDAQ:FOXA) from a buy rating to a hold rating in a research report released on Tuesday, January 9th, Marketbeat reports. The brokerage currently has $38.00 price target on the stock, up from their previous price target of $37.00.
“We are downgrading both 21 st Century Fox and Discovery at this time, as those companies’ recent gains result in relatively fully-valued stocks. We maintain a Buy on Time Warner, Sell on Disney as well Hold ratings on both of CBS and Viacom. Ahead of 4Q17 earnings, we continue to see weak fundamentals for video-centric media owners. Cord shaving and cord-cutting erodes subscriber bases, constraining affiliate fee revenue growth. Viewing of video content is still expanding, although much of its growth accrues to newer SVOD services and YouTube. Advertising looks relatively worse, as the large brands who dominate it are generally reducing spending on the medium and are not likely to be replaced by enough emerging brands to make up the difference. This paired with marginal shifts into digital media lead to our view that national TV advertising declines going forward.”,” Pivotal Research’s analyst wrote.
Other equities research analysts also recently issued research reports about the stock. B. Riley reissued a neutral rating on shares of Twenty-First Century Fox in a research report on Wednesday, November 1st. Jefferies Group restated a buy rating and set a $35.00 target price on shares of Twenty-First Century Fox in a report on Tuesday, September 26th. Piper Jaffray Companies set a $35.00 target price on shares of Twenty-First Century Fox and gave the stock a buy rating in a report on Wednesday, November 1st. BMO Capital Markets cut shares of Twenty-First Century Fox from an outperform rating to a market perform rating and set a $35.00 target price for the company. in a report on Monday, December 18th. Finally, Cowen restated a hold rating and set a $39.00 target price on shares of Twenty-First Century Fox in a report on Friday, December 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $36.58.
Shares of Twenty-First Century Fox (NASDAQ:FOXA) opened at $36.90 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 1.73 and a debt-to-equity ratio of 1.09. Twenty-First Century Fox has a 12-month low of $24.81 and a 12-month high of $39.13. The stock has a market cap of $67,910.00, a price-to-earnings ratio of 22.78, a PEG ratio of 2.02 and a beta of 1.44.
Twenty-First Century Fox (NASDAQ:FOXA) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Twenty-First Century Fox had a net margin of 10.30% and a return on equity of 21.41%. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.80 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. research analysts expect that Twenty-First Century Fox will post 2.01 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. Cerebellum GP LLC acquired a new stake in Twenty-First Century Fox in the fourth quarter valued at $106,000. Mint Tower Capital Management B.V. acquired a new stake in Twenty-First Century Fox in the third quarter valued at $110,000. Rockefeller Financial Services Inc. acquired a new stake in Twenty-First Century Fox in the third quarter valued at $113,000. Zions Bancorporation lifted its stake in Twenty-First Century Fox by 86.4% in the third quarter. Zions Bancorporation now owns 4,911 shares of the company’s stock valued at $130,000 after acquiring an additional 2,276 shares during the last quarter. Finally, Tiedemann Wealth Management LLC acquired a new stake in Twenty-First Century Fox in the third quarter valued at $148,000. Hedge funds and other institutional investors own 54.36% of the company’s stock.
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Twenty-First Century Fox Company Profile
Twenty-First Century Fox, Inc is a media and entertainment company. The Company’s segments include Cable Network Programming; Television; Filmed Entertainment, and Other, Corporate and Eliminations. The Cable Network Programming segment produces and licenses news, business news, sports, general entertainment, factual entertainment and movie programming for distribution.
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