FOX (NASDAQ:FOXA) Announces Quarterly Earnings Results

FOX (NASDAQ:FOXA) released its earnings results on Tuesday. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.62 by $0.34, Zacks reports. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 earnings per share.

FOX Stock Down 1.4 %

Shares of NASDAQ FOXA traded down $0.74 during midday trading on Thursday, hitting $53.79. The stock had a trading volume of 535,939 shares, compared to its average volume of 3,420,868. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. FOX has a 52 week low of $28.28 and a 52 week high of $55.56. The company has a market cap of $24.57 billion, a P/E ratio of 13.14, a PEG ratio of 1.25 and a beta of 0.76. The business’s 50 day moving average is $48.79 and its 200-day moving average is $44.03.

FOX Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio (DPR) is presently 13.20%.

Insider Activity

In related news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Analysts Set New Price Targets

FOXA has been the topic of several recent analyst reports. Barclays boosted their price objective on FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Macquarie reaffirmed a “neutral” rating and set a $43.00 target price on shares of FOX in a research note on Tuesday, November 5th. Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and boosted their target price for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. Finally, StockNews.com downgraded shares of FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.19.

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.