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

FOX (NASDAQ:FOXA - Get Free Report) issued its earnings results on Monday. The company reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.33, Briefing.com reports. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis.

FOX Stock Up 1.4 %

Shares of FOXA traded up $0.60 during trading hours on Tuesday, reaching $43.60. 7,832,659 shares of the stock traded hands, compared to its average volume of 2,984,395. FOX has a 52 week low of $28.28 and a 52 week high of $45.82. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.90 and a beta of 0.76. The stock has a fifty day simple moving average of $41.39 and a 200 day simple moving average of $37.34. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61.

Insider Buying and Selling at FOX

In related news, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company's stock, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other FOX news, COO John Nallen sold 52,874 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company's stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.77% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America lifted their price objective on shares of FOX from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. The Goldman Sachs Group lifted their price target on shares of FOX from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Tuesday. TD Cowen increased their price objective on shares of FOX from $36.00 to $42.00 and gave the stock a "hold" rating in a research report on Tuesday. Guggenheim boosted their target price on FOX from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, UBS Group upped their price target on FOX from $44.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, FOX currently has a consensus 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.