FOX (NASDAQ:FOXA) Issues Quarterly Earnings Results

FOX (NASDAQ:FOXA) released its quarterly earnings data on Tuesday. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34, Zacks reports. FOX had a net margin of 13.40% and a return on equity of 16.49%.

FOX Stock Performance

FOX stock opened at $54.09 on Tuesday. The stock has a 50-day simple moving average of $48.35 and a 200 day simple moving average of $43.72. The stock has a market capitalization of $24.70 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.25 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. FOX has a 12-month low of $28.28 and a 12-month high of $55.56.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the transaction, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 21.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FOXA. JPMorgan Chase & Co. upped their price target on FOX from $42.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group boosted their price objective on shares of FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Bank of America lifted their target price on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Guggenheim upped their price target on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Citigroup lifted their price objective on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.25.

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.