FOX (NASDAQ:FOX) Releases Earnings Results, Beats Estimates By $0.47 EPS

FOX (NASDAQ:FOX) posted its quarterly earnings data on Monday. The company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.47, FiscalAI reports. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.32 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%.

FOX Price Performance

Shares of FOX opened at $56.20 on Monday. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $58.14 and its 200 day simple moving average is $56.00. FOX has a 1-year low of $44.08 and a 1-year high of $68.18. The company has a market cap of $23.58 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.40 and a beta of 0.63.

FOX Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were issued a dividend of $0.29 per share. This represents a yield of 96.0%. The ex-dividend date was Wednesday, September 2nd. FOX’s payout ratio is presently 15.14%.

Insider Buying and Selling

In other news, CEO Lachlan Murdoch purchased 149,934 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was purchased at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the purchase, the chief executive officer directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FOX has been the subject of several research reports. Weiss Ratings raised shares of FOX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 10th. Fox Advisors reiterated a “market outperform” rating on shares of FOX in a report on Tuesday, October 20th. Rothschild & Co Redburn set a $71.00 price objective on shares of FOX in a research report on Friday, July 10th. Citigroup restated a “market outperform” rating on shares of FOX in a report on Tuesday, October 20th. Finally, Guggenheim reaffirmed a “buy” rating on shares of FOX in a research report on Tuesday, August 25th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $78.78.

FOX Company Profile

Fox Corporation (NASDAQ: FOX) is a media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. Fox operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.

The company’s FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.