fuboTV (NYSE:FUBO) Announces Earnings Results

fuboTV (NYSE:FUBO) issued its earnings results on Monday. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.06, Briefing.com reports. fuboTV had a net margin of 5.50% and a negative return on equity of 20.81%. The business had revenue of $377.20 million for the quarter, compared to analysts’ expectations of $361.33 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year.

fuboTV Price Performance

NYSE:FUBO traded up $0.24 during midday trading on Tuesday, hitting $3.70. The company had a trading volume of 15,219,632 shares, compared to its average volume of 23,884,928. The stock’s fifty day moving average price is $3.89 and its 200-day moving average price is $3.55. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.47. fuboTV has a 52-week low of $1.21 and a 52-week high of $6.45. The company has a market capitalization of $1.27 billion, a PE ratio of 14.13 and a beta of 2.55.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FUBO. Needham & Company LLC reissued a “buy” rating and set a $4.25 target price on shares of fuboTV in a report on Tuesday. Weiss Ratings reissued a “sell (d+)” rating on shares of fuboTV in a report on Wednesday, October 8th. Wedbush reissued an “outperform” rating and set a $6.00 target price (up previously from $5.00) on shares of fuboTV in a report on Wednesday, July 30th. Finally, Wall Street Zen cut shares of fuboTV from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $4.63.

Insider Activity

In other fuboTV news, Chairman Edgar Bronfman, Jr. sold 59,694 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $3.62, for a total transaction of $216,092.28. Following the completion of the sale, the chairman directly owned 8,673 shares in the company, valued at $31,396.26. This represents a 87.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel V. Leff sold 66,061 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $3.68, for a total transaction of $243,104.48. Following the sale, the director owned 390,427 shares of the company’s stock, valued at approximately $1,436,771.36. The trade was a 14.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 185,449 shares of company stock valued at $675,289. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On fuboTV

A number of institutional investors have recently bought and sold shares of FUBO. Focus Partners Wealth bought a new position in shares of fuboTV during the first quarter valued at approximately $30,000. First Trust Advisors LP purchased a new position in shares of fuboTV during the second quarter valued at approximately $44,000. CTC Alternative Strategies Ltd. purchased a new position in shares of fuboTV during the second quarter valued at approximately $54,000. Integrated Wealth Concepts LLC purchased a new position in shares of fuboTV during the first quarter valued at approximately $92,000. Finally, Caxton Associates LLP purchased a new stake in shares of fuboTV in the second quarter worth $95,000. 39.31% of the stock is owned by institutional investors.

fuboTV Company Profile

fuboTV, Inc engages in providing subscription to sports, news, and entertainment content. It offers its services through streaming devices and on television, mobile phones, tablets, and computers. The company was founded by David Gandler, Alberto Horihuela Suarez, and Sung Ho Choi on February 20, 2009 and is headquartered in New York, NY.