FOX (NASDAQ:FOXA) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS

FOX (NASDAQ:FOXAGet Free Report) released its quarterly earnings results on Wednesday. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.24, Briefing.com reports. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. The firm’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 EPS.

FOX Trading Up 3.4 %

Shares of FOXA opened at $29.77 on Friday. FOX has a 1 year low of $28.51 and a 1 year high of $37.26. The company has a current ratio of 2.29, a quick ratio of 1.81 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $30.46 and a 200-day simple moving average of $31.17. The stock has a market cap of $14.37 billion, a PE ratio of 17.62, a PEG ratio of 0.40 and a beta of 0.81.

FOX Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th will be given a $0.26 dividend. The ex-dividend date is Tuesday, March 5th. This represents a dividend yield of 1.8%. FOX’s dividend payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FOXA shares. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. TheStreet downgraded FOX from a “b-” rating to a “c” rating in a research note on Wednesday. JPMorgan Chase & Co. downgraded FOX from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $40.00 to $36.00 in a research note on Friday, November 3rd. Wells Fargo & Company decreased their target price on FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, Macquarie increased their target price on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.73.

Read Our Latest Stock Analysis on FOXA

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 194,691 shares of FOX stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $29.57, for a total value of $5,757,012.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FOXA. Raymond James Financial Services Advisors Inc. lifted its holdings in FOX by 13.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,289 shares of the company’s stock worth $800,000 after acquiring an additional 2,440 shares in the last quarter. American Century Companies Inc. increased its position in FOX by 2.6% during the first quarter. American Century Companies Inc. now owns 56,001 shares of the company’s stock worth $2,210,000 after buying an additional 1,428 shares during the last quarter. US Bancorp DE increased its position in FOX by 34.7% during the first quarter. US Bancorp DE now owns 12,614 shares of the company’s stock worth $498,000 after buying an additional 3,249 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of FOX by 6.4% during the first quarter. PNC Financial Services Group Inc. now owns 24,691 shares of the company’s stock worth $974,000 after acquiring an additional 1,486 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of FOX by 196.3% during the first quarter. Acadian Asset Management LLC now owns 2,717 shares of the company’s stock worth $107,000 after acquiring an additional 1,800 shares during the period. 55.93% of the stock is currently owned by institutional investors.

About FOX

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Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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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Earnings History for FOX (NASDAQ:FOXA)

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