fuboTV (NYSE:FUBO) Posts Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• fuboTV reported quarterly EPS of negative $0.25, beating analysts’ estimate of negative $0.29 by $0.04. Revenue increased 38% year over year, though the company remained unprofitable.
• Shares rose 4.3% to $10.22 following the results. The stock remains well below its 52-week high of $56.64, with a market capitalization of approximately $309 million.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $16.83, while COO Alberto Horihuela sold 141,074 shares and reduced his position by half.

fuboTV (NYSE:FUBO - Get Free Report) issued its quarterly earnings results on Friday. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04, Briefing.com reports. fuboTV had a negative net margin of 0.71% and a negative return on equity of 7.67%. During the same period in the prior year, the firm posted ($0.02) earnings per share. The company's revenue was up 38.0% compared to the same quarter last year.

fuboTV Stock Up 4.3%

FUBO traded up $0.42 on Friday, reaching $10.22. 1,949,157 shares of the company traded hands, compared to its average volume of 1,609,958. The stock's 50 day moving average price is $9.45 and its 200-day moving average price is $12.56. fuboTV has a 52-week low of $7.95 and a 52-week high of $56.64. The company has a market cap of $308.55 million, a price-to-earnings ratio of -7.98 and a beta of 2.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 1.00.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FUBO shares. Wall Street Zen downgraded shares of fuboTV from a "hold" rating to a "sell" rating in a research note on Sunday, June 21st. Evercore initiated coverage on fuboTV in a research report on Friday, May 1st. They issued an "outperform" rating and a $18.00 target price for the company. Barrington Research reiterated an "outperform" rating and set a $16.00 price target on shares of fuboTV in a report on Thursday, June 11th. Citigroup reissued a "market outperform" rating on shares of fuboTV in a research report on Thursday, June 11th. Finally, Wedbush reduced their price objective on fuboTV from $24.00 to $19.00 and set an "outperform" rating for the company in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $16.83.

Insiders Place Their Bets

In other fuboTV news, COO Alberto Horihuela sold 141,074 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.38, for a total value of $1,464,348.12. Following the completion of the sale, the chief operating officer owned 141,074 shares in the company, valued at $1,464,348.12. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On fuboTV

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of fuboTV during the first quarter worth $92,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in fuboTV by 8.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 197,353 shares of the company's stock valued at $576,000 after purchasing an additional 14,748 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in fuboTV by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,262 shares of the company's stock valued at $2,454,000 after purchasing an additional 99,482 shares in the last quarter. Focus Partners Wealth purchased a new position in fuboTV in the first quarter valued at about $30,000. Finally, Creative Planning increased its position in fuboTV by 17.3% in the 2nd quarter. Creative Planning now owns 106,020 shares of the company's stock worth $409,000 after purchasing an additional 15,602 shares during the last quarter. 39.31% of the stock is currently owned by hedge funds and other institutional investors.

About fuboTV

fuboTV Inc is a sports-focused live TV streaming platform that provides subscribers with access to a broad range of televised sports, news and entertainment programming. The service offers tiered channel packages featuring major networks such as ESPN, Fox Sports, NBC and regional sports networks, along with bundled options for premium channels and international programming. A core element of fuboTV's proposition is its cloud DVR functionality, which enables users to record live events and store them for later viewing.

In addition to its live television offerings, fuboTV has developed an in-house ad-supported streaming network—fubo Sports Network—that delivers original sports news, analysis and highlights.

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