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

FOX (NASDAQ:FOXA) announced its earnings results on Monday. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33, Briefing.com reports. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year.

FOX Price Performance

NASDAQ FOXA traded down $0.66 during trading hours on Thursday, reaching $44.82. The company’s stock had a trading volume of 1,134,604 shares, compared to its average volume of 2,990,830. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The company’s 50-day moving average is $41.53 and its two-hundred day moving average is $37.48. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $45.82. The stock has a market cap of $20.63 billion, a PE ratio of 11.12, a PEG ratio of 1.95 and a beta of 0.76.

Insider Buying and Selling at FOX

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 sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Nallen sold 52,874 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was 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 directly owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 335,355 shares of company stock valued at $14,244,865 over the last quarter. Corporate insiders own 21.77% of the company’s stock.

Analysts Set New Price Targets

FOXA has been the topic of several research reports. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Loop Capital increased their price target on shares of FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. TD Cowen raised their price objective on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday. Morgan Stanley upped their target price on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, Cfra reiterated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.00.

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.