FOX (NASDAQ:FOXA) Posts Quarterly Earnings Results, Beats Expectations By $0.52 EPS

FOX (NASDAQ:FOXA) announced its quarterly earnings results on Monday. The company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.02 by $0.52, Briefing.com reports. FOX had a net margin of 9.84% and a return on equity of 20.64%. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $1.51 EPS.

FOX Price Performance

Shares of NASDAQ FOXA opened at $63.24 on Monday. The stock has a 50-day moving average price of $65.09 and a two-hundred day moving average price of $62.32. The company has a market cap of $26.54 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.10 and a beta of 0.60. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. FOX has a 12 month low of $48.34 and a 12 month high of $76.39.

FOX Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a yield of 86.0%. FOX’s dividend payout ratio (DPR) is 15.14%.

Analysts Set New Price Targets

FOXA has been the subject of a number of research analyst reports. Guggenheim reiterated a “buy” rating and issued a $85.00 target price on shares of FOX in a research note on Wednesday, September 23rd. Weiss Ratings raised FOX from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 26th. Citigroup started coverage on shares of FOX in a research note on Monday, September 14th. They issued an “outperform” rating on the stock. Fox Advisors set a $85.00 target price on shares of FOX in a research report on Friday, October 16th. Finally, KeyCorp cut shares of FOX to a “sector weight” rating in a research report on Friday, October 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.94.

Insider Buying and Selling

In other FOX news, CEO Lachlan Murdoch purchased 149,934 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was purchased at an average cost of $68.53 per share, for a total transaction of $10,274,977.02. Following the transaction, the chief executive officer owned 1,401,713 shares in the company, valued at $96,059,391.89. The trade was a 11.98% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 20.89% of the stock is currently owned by corporate insiders.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.