21st Century Fox (FOXA) Downgraded to “Sell” at Zacks Investment Research

21st Century Fox (NASDAQ:FOXA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “Twenty-First Century Fox continues to benefit from higher affiliate rate, rise in retransmission and robust advertising demand for its live content and entertainment product. Shares have outperformed the industry in the past year. Disney is acquiring majority of Twenty-First Century Fox’s assets, which includes its Film and Television studios accompanied by cable and international TV businesses. The new Twenty-First Century Fox is expected to have a sound financial position, backed by strong growth potential and solid free cash flow generation. However, growing concern over the company’s proposed acquisition of remaining 61% stake in Europe’s leading pay-TV broadcaster Sky plc is expected to drag down shares in the near term. Moreover, falling ad-prices due to the advertiser boycott of The Ingraham Angle show is a concern. Further, estimates have been going down ahead of the company’s Q3 earnings release.”

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FOXA has been the subject of a number of other reports. Pivotal Research downgraded shares of 21st Century Fox from a “buy” rating to a “hold” rating and increased their price target for the company from $37.00 to $38.00 in a report on Tuesday, January 9th. Atlantic Securities raised shares of 21st Century Fox from a “neutral” rating to an “overweight” rating in a report on Monday, January 22nd. Piper Jaffray reissued a “buy” rating and issued a $44.00 price target on shares of 21st Century Fox in a report on Friday, January 26th. Cowen reissued a “hold” rating and issued a $37.00 price target on shares of 21st Century Fox in a report on Friday, December 22nd. Finally, Jefferies Group increased their price target on shares of 21st Century Fox from $30.00 to $43.00 and gave the company a “buy” rating in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $38.33.

NASDAQ FOXA opened at $37.20 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 2.16 and a debt-to-equity ratio of 0.98. The firm has a market cap of $68,154.51, a P/E ratio of 19.27, a PEG ratio of 1.96 and a beta of 1.31. 21st Century Fox has a 1 year low of $24.81 and a 1 year high of $39.13.

21st Century Fox (NASDAQ:FOXA) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. The business had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $7.94 billion. 21st Century Fox had a net margin of 13.49% and a return on equity of 19.01%. 21st Century Fox’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. equities research analysts expect that 21st Century Fox will post 2.04 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in FOXA. Cerebellum GP LLC acquired a new position in shares of 21st Century Fox in the 4th quarter valued at $106,000. Engineers Gate Manager LP acquired a new position in shares of 21st Century Fox in the 3rd quarter valued at $200,000. D.A. Davidson & CO. acquired a new position in shares of 21st Century Fox in the 4th quarter valued at $214,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of 21st Century Fox by 36.6% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 6,282 shares of the company’s stock valued at $217,000 after buying an additional 1,684 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new position in shares of 21st Century Fox in the 4th quarter valued at $234,000. Institutional investors own 53.78% of the company’s stock.

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About 21st Century Fox

Twenty-First Century Fox, Inc, together with its subsidiaries, operates as a diversified media and entertainment company primarily in the United States, the United Kingdom, Continental Europe, Asia, and Latin America. It operates through Cable Network Programming, Television, and Filmed Entertainment segments.

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