FOX (NASDAQ:FOXA) Issues Earnings Results

by · The Cerbat Gem

FOX (NASDAQ:FOXA – Get Free Report) announced its quarterly earnings results on Monday. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.12 by $0.33, Briefing.com reports. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 EPS.

FOX Price Performance

NASDAQ:FOXA traded up $0.92 on Wednesday, reaching $44.52. The stock had a trading volume of 222,074 shares, compared to its average volume of 2,971,547. The company has a market capitalization of $20.49 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. FOX has a 1-year low of $28.28 and a 1-year high of $45.82. The stock has a fifty day moving average price of $41.44 and a 200-day moving average price of $37.42.

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Nallen sold 182,481 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly 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 position. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FOXA. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company raised their price target on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday. Evercore ISI increased their target price on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research note on Wednesday, August 7th. Finally, Macquarie restated a “neutral” rating and set a $43.00 price objective on shares of FOX in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $44.00.

View Our Latest Stock Report on FOX

FOX Company Profile

(Get Free Report)

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.

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