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

FOX (NASDAQ:FOXA) posted 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. The firm 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%. FOX’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS.

FOX Stock Up 4.3 %

FOXA traded up $1.88 during trading hours on Wednesday, reaching $45.48. 6,280,821 shares of the stock traded hands, compared to its average volume of 2,999,728. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $45.82. The company has a market cap of $20.93 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.90 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The firm’s fifty day simple moving average is $41.53 and its two-hundred day simple moving average is $37.48.

Insiders Place Their Bets

In other FOX news, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders have sold 335,355 shares of company stock worth $14,244,865 in the last quarter. 21.77% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. UBS Group upped their price objective on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday. Cfra reissued a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, Evercore ISI boosted their price target on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FOX has an average rating of “Hold” and an average price target of $44.00.

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.