Nomura Initiates Coverage on Twenty-First Century Fox (FOXA)
Stock analysts at Nomura assumed coverage on shares of Twenty-First Century Fox (NASDAQ:FOXA) in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $40.00 price target on the stock. Nomura’s price objective would suggest a potential upside of 23.84% from the stock’s previous close.
The analysts wrote, “Given its breadth of world-class content, including both national and regional sports rights, international cable assets, and a large-scale film and TV studio, we believe FOXA will achieve the fastest earning growth over the next three years of any of the large-cap Media names,” the report noted. “While Fox currently trades roughly in line with its large-cap peers, we think it deserves a higher than industry multiple.”
A number of other analysts have also recently weighed in on FOXA. Analysts at TheStreet reiterated a “buy” rating on shares of Twenty-First Century Fox in a research note to investors on Tuesday, January 7th. Finally, analysts at Ascendiant Capital Markets initiated coverage on shares of Twenty-First Century Fox in a research note to investors on Thursday, December 19th. They set a “buy” rating on the stock. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $37.50.
Shares of Twenty-First Century Fox (NASDAQ:FOXA) traded up 1.35% during mid-day trading on Wednesday, hitting $32.735. The stock had a trading volume of 6,347,779 shares. Twenty-First Century Fox has a one year low of $23.7544 and a one year high of $35.75. The stock’s 50-day moving average is $33.75 and its 200-day moving average is $32.70. The company has a market cap of $74.695 billion and a price-to-earnings ratio of 12.29. Twenty-First Century Fox also saw some unusual options trading on Monday. Investors purchased 100,178 call options on the company. This represents an increase of 1,847% compared to the average daily volume of 5,146 call options.
Twenty-First Century Fox (NASDAQ:FOXA) last released its earnings data on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.35 by $0.02. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $6.80 billion. During the same quarter last year, the company posted $0.38 earnings per share. Twenty-First Century Fox’s revenue was up 17.6% compared to the same quarter last year. On average, analysts predict that Twenty-First Century Fox will post $1.51 earnings per share for the current fiscal year.
Twenty-First Century Fox, Inc, formerly News Corporation, has a portfolio of cable, broadcast, film, pay television and satellite assets spanning six continents across the globe.
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