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

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

FOX Stock Performance

Shares of NASDAQ:FOX opened at $56.20 on Monday. The business has a 50-day moving average price of $58.14 and a 200-day moving average price of $56.00. The stock 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. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. FOX has a 52-week low of $44.08 and a 52-week high of $68.18.

FOX Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FOX shares. JPMorgan Chase & Co. raised FOX from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $82.00 in a research note on Friday, August 14th. Citizens Jmp upgraded shares of FOX to a “strong-buy” rating in a report on Monday, September 14th. Seaport Research Partners cut shares of FOX from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Guggenheim reiterated a “buy” rating on shares of FOX in a research note on Tuesday, August 25th. Finally, Weiss Ratings raised shares of FOX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, September 10th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.78.

Insiders Place Their Bets

In other news, CEO Lachlan Murdoch purchased 149,934 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the acquisition, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. This represents a 11.98% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.06% of the company’s stock.

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.