Jefferies Group Comments on Twenty-First Century Fox Inc.’s Q1 2017 Earnings (FOXA)
Twenty-First Century Fox Inc. (NASDAQ:FOXA) – Analysts at Jefferies Group boosted their Q1 2017 earnings per share (EPS) estimates for Twenty-First Century Fox in a research note issued on Monday. Jefferies Group analyst J. Janedis now forecasts that the firm will post earnings of $0.44 per share for the quarter, up from their prior forecast of $0.42. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Twenty-First Century Fox’s FY2017 earnings at $1.85 EPS and FY2018 earnings at $2.06 EPS.
Twenty-First Century Fox (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.68 billion. Twenty-First Century Fox had a return on equity of 21.63% and a net margin of 10.08%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 EPS.
Several other analysts have also commented on FOXA. Zacks Investment Research lowered Twenty-First Century Fox from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 11th. Credit Suisse Group AG cut their price objective on Twenty-First Century Fox from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, August 5th. Deutsche Bank AG cut their price objective on Twenty-First Century Fox from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, August 5th. Brean Capital restated a “hold” rating on shares of Twenty-First Century Fox in a research report on Tuesday, August 16th. Finally, Citigroup Inc. dropped their target price on Twenty-First Century Fox from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, August 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.61.
Twenty-First Century Fox (NASDAQ:FOXA) traded up 0.90% during midday trading on Wednesday, hitting $24.78. The company had a trading volume of 1,868,876 shares. The company has a market cap of $46.15 billion, a P/E ratio of 17.50 and a beta of 1.34. Twenty-First Century Fox has a one year low of $22.66 and a one year high of $31.40. The company’s 50 day moving average is $24.30 and its 200-day moving average is $27.19.
A number of hedge funds and other institutional investors have recently made changes to their positions in FOXA. Waddell & Reed Financial Inc. acquired a new stake in Twenty-First Century Fox during the second quarter valued at about $230,114,000. Fiduciary Management Inc. WI purchased a new position in shares of Twenty-First Century Fox during the first quarter valued at approximately $218,597,000. Capital Research Global Investors increased its position in shares of Twenty-First Century Fox by 4.1% in the second quarter. Capital Research Global Investors now owns 52,954,319 shares of the company’s stock valued at $1,432,414,000 after buying an additional 2,101,098 shares during the period. Wellington Management Group LLP increased its position in shares of Twenty-First Century Fox by 4.9% in the first quarter. Wellington Management Group LLP now owns 43,589,924 shares of the company’s stock valued at $1,215,287,000 after buying an additional 2,030,457 shares during the period. Finally, Riverhead Capital Management LLC increased its position in shares of Twenty-First Century Fox by 1,098.5% in the second quarter. Riverhead Capital Management LLC now owns 1,954,562 shares of the company’s stock valued at $52,872,000 after buying an additional 1,791,477 shares during the period. Institutional investors own 53.31% of the company’s stock.
The business also recently announced a dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, September 14th will be given a $0.18 dividend. The ex-dividend date is Monday, September 12th. This is a positive change from Twenty-First Century Fox’s previous dividend of $0.15. Twenty-First Century Fox’s payout ratio is 25.35%.
About Twenty-First Century Fox
Twenty-First Century Fox, Inc is a media and entertainment company. The Company operates through segments: Cable Network Programming, Television, Filmed Entertainment, and Other, Corporate and Eliminations. The Company produces and licenses news, business news, sports, general entertainment, factual entertainment and movie programming for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies and online video distributors in the United States and internationally.
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