fuboTV (NYSE:FUBO) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

fuboTV (NYSE:FUBO) posted its quarterly earnings results on Tuesday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.06), FiscalAI reports. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.45 billion. fuboTV had a negative return on equity of 6.66% and a net margin of 7.61%.The company’s quarterly revenue was up 40.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.11) EPS.

fuboTV Trading Up 2.0%

Shares of NYSE:FUBO opened at $2.28 on Tuesday. The firm has a fifty day moving average of $2.64 and a two-hundred day moving average of $3.37. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.48. fuboTV has a 12-month low of $2.19 and a 12-month high of $4.72. The firm has a market capitalization of $779.70 million, a P/E ratio of 6.32 and a beta of 1.93.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FUBO. Weiss Ratings restated a “sell (d+)” rating on shares of fuboTV in a report on Wednesday, October 8th. Wall Street Zen raised shares of fuboTV from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Needham & Company LLC restated a “buy” rating and issued a $4.25 price target on shares of fuboTV in a research report on Tuesday, November 4th. Raymond James Financial began coverage on shares of fuboTV in a research report on Monday, December 1st. They set a “market perform” rating on the stock. Finally, Zacks Research downgraded shares of fuboTV from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.58.

Insider Buying and Selling

In other fuboTV news, CEO David Gandler sold 170,279 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $2.55, for a total value of $434,211.45. Following the transaction, the chief executive officer directly owned 561,428 shares of the company’s stock, valued at $1,431,641.40. This represents a 23.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John Janedis sold 130,478 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $3.12, for a total value of $407,091.36. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 610,095 shares of company stock worth $1,818,811. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On fuboTV

A number of hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP grew its position in fuboTV by 12.2% in the third quarter. Two Sigma Investments LP now owns 6,745,483 shares of the company’s stock worth $27,994,000 after acquiring an additional 734,142 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of fuboTV by 73.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,614,497 shares of the company’s stock valued at $19,154,000 after purchasing an additional 1,954,352 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of fuboTV by 13.4% in the 1st 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 during the last quarter. Aquatic Capital Management LLC bought a new stake in fuboTV in the third quarter worth $3,169,000. Finally, Alliancebernstein L.P. increased its position in fuboTV by 113.1% during the third quarter. Alliancebernstein L.P. now owns 726,316 shares of the company’s stock worth $3,014,000 after buying an additional 385,530 shares during the last quarter. Institutional investors and hedge funds own 39.31% of the company’s stock.

fuboTV Company Profile

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.