FOX (FOXA) Expected to Announce Quarterly Earnings on Wednesday

FOX (NASDAQ:FOXA) is anticipated to announce its earnings results before the market opens on Wednesday, February 5th. Analysts expect the company to announce earnings of $0.62 per share and revenue of $4.78 billion for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 EPS. On average, analysts expect FOX to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

FOX Price Performance

FOXA stock opened at $50.04 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The firm has a market capitalization of $22.86 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.19 and a beta of 0.75. The business’s 50-day moving average is $47.99 and its two-hundred day moving average is $43.32. FOX has a 1 year low of $28.28 and a 1 year high of $50.66.

Insiders Place Their Bets

In other news, COO John Nallen sold 182,481 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FOXA. Deutsche Bank Aktiengesellschaft increased their price target on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company upped their price target on FOX from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Friday, January 10th. Citigroup raised their price objective on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. TD Cowen increased their target price on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley boosted their price target on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, FOX has a consensus rating of “Hold” and an average target price of $48.25.

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.