FOX (NASDAQ:FOXA) Announces Earnings Results

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

FOX Trading Down 1.8 %

NASDAQ FOXA traded down $0.81 during trading hours on Thursday, reaching $44.67. The company had a trading volume of 818,130 shares, compared to its average volume of 2,989,630. The stock has a 50-day moving average of $41.53 and a 200 day moving average of $37.48. FOX has a 1-year low of $28.28 and a 1-year high of $45.82. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $20.56 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76.

Insider Buying and Selling at FOX

In other FOX news, COO John Nallen sold 182,481 shares of the company’s 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 transaction, the chief operating officer now owns 249,424 shares of the company’s stock, 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 SEC, which is available through this link. In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 335,355 shares of company stock valued at $14,244,865 over the last 90 days. 21.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FOXA. Deutsche Bank Aktiengesellschaft raised their price objective on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays upped their price objective on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. UBS Group upped their price objective on shares of FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. Macquarie restated a “neutral” rating and set a $43.00 price objective on shares of FOX in a research report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday. One 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.