FOX (NASDAQ:FOXA) Stock Price Up 5.6% Following Earnings Beat
Fox Corp (NASDAQ:FOXA) rose 5.6% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $34.97 and last traded at $34.94, approximately 9,056,842 shares were traded during mid-day trading. An increase of 70% from the average daily volume of 5,335,524 shares. The stock had previously closed at $33.10.
The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.69 by $0.14. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the business posted $0.52 EPS. FOX’s revenue for the quarter was up 5.1% compared to the same quarter last year.
FOXA has been the subject of several recent research reports. Atlantic Securities cut FOX from an “overweight” rating to an “underweight” rating and set a $28.00 price target for the company. in a report on Tuesday, September 10th. Macquarie lowered FOX from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $35.00 to $30.00 in a research report on Monday, September 9th. Zacks Investment Research upgraded FOX from a “sell” rating to a “hold” rating in a research report on Tuesday, August 27th. Needham & Company LLC restated a “hold” rating on shares of FOX in a research report on Thursday. Finally, Barclays restated a “hold” rating and set a $38.00 price target on shares of FOX in a research report on Friday, July 12th. Seven research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. FOX has a consensus rating of “Hold” and an average target price of $41.89.
The stock has a fifty day simple moving average of $31.93 and a two-hundred day simple moving average of $34.80. The company has a market cap of $20.38 billion and a PE ratio of 13.36. The company has a current ratio of 3.78, a quick ratio of 3.12 and a debt-to-equity ratio of 0.68.
FOX Company Profile (NASDAQ:FOXA)
Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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