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

FOX (NASDAQ:FOXA) issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $1.09 earnings per share.

FOX Price Performance

NASDAQ FOXA traded up $0.85 during trading on Tuesday, hitting $43.85. 1,301,939 shares of the stock traded hands, compared to its average volume of 2,953,878. 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 12-month low of $28.28 and a 12-month high of $45.82. The firm has a 50-day simple moving average of $41.39 and a 200-day simple moving average of $37.34. The company has a market capitalization of $20.18 billion, a P/E ratio of 10.70, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76.

Analysts Set New Price Targets

Several brokerages recently issued reports on FOXA. JPMorgan Chase & Co. increased their price target on shares of FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday. Barclays upped their price target on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Macquarie reissued a “neutral” rating and issued a $43.00 target price on shares of FOX in a report on Tuesday. Wells Fargo & Company lifted their price target on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, FOX presently has a consensus rating of “Hold” and an average target price of $43.31.

Insider Transactions at FOX

In related news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other FOX news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s 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 transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 21.77% of the company’s stock.

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.