FOX (NASDAQ:FOXA) Issues Earnings Results

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

FOX Price Performance

Shares of NASDAQ:FOXA traded down $0.66 during midday trading on Thursday, hitting $44.82. The company’s stock had a trading volume of 1,134,604 shares, compared to its average volume of 2,990,830. FOX has a 12-month low of $28.28 and a 12-month high of $45.82. The company has a market cap of $20.63 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. 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 business’s 50 day simple moving average is $41.53 and its 200 day simple moving average is $37.48.

Insider Buying and Selling at FOX

In other FOX news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 335,355 shares of company stock worth $14,244,865. Insiders own 21.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FOXA shares. Barclays lifted their target price on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Cfra reaffirmed a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their target price on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday. TD Cowen upped their price target on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, FOX 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.