FOX (NASDAQ:FOXA) Releases Earnings Results, Beats Expectations By $0.17 EPS

FOX (NASDAQ:FOXA - Get Free Report) issued its earnings results on Monday. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.17, Zacks reports. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company's quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter last year, the business earned $1.40 earnings per share.

FOX Stock Performance

NASDAQ FOXA traded up $0.82 during trading on Thursday, reaching $55.46. The company's stock had a trading volume of 4,531,172 shares, compared to its average volume of 3,482,566. FOX has a twelve month low of $32.45 and a twelve month high of $58.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The business's fifty day moving average price is $51.25 and its 200-day moving average price is $50.09. The firm has a market cap of $25.15 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 1.27 and a beta of 0.51.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays reissued an "outperform" rating on shares of FOX in a report on Tuesday. Morgan Stanley raised their target price on shares of FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research note on Tuesday. The Goldman Sachs Group set a $60.00 price objective on FOX and gave the company a "buy" rating in a research report on Tuesday, February 4th. Guggenheim restated a "buy" rating and issued a $60.00 price target on shares of FOX in a research note on Tuesday, March 25th. Finally, Cowen restated a "hold" rating on shares of FOX in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, FOX has a consensus rating of "Hold" and a consensus price target of $52.71.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.77% of the stock is currently owned by insiders.

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.