Twenty-First Century Fox Inc. (FOXA) Rating Increased to Hold at Zacks Investment Research
Twenty-First Century Fox Inc. (NASDAQ:FOXA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Twenty-First Century Fox’s Cable Network Programming has been driving the company’s performance owing to rising affiliate fees. The company said that the pace of affiliate fees will accelerate in the back half of the fiscal year as 15%–20% of the company’s domestic subscribers will be up for annual renewal in the couple of years. However, increase in programming costs and fluctuation in foreign currency exchange rate continues to act as a headwind for Twenty-First Century Fox. In the fourth-quarter of fiscal 2016, the company expenses rose 15% primarily due to hiked sports programming costs owing to soccer rights costs at FNG International as well as Major League Baseball and streaming rights costs at the RSNs. The company expects costs at Cable Network to go up in fiscal 2017. Increase in expenses may dent the company’s margins and in turn the bottom line in the coming quarters.”
Several other brokerages have also issued reports on FOXA. Citigroup Inc. dropped their target price on shares of Twenty-First Century Fox from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, August 15th. Barclays PLC lowered shares of Twenty-First Century Fox from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $33.00 to $29.00 in a research report on Monday, August 8th. Deutsche Bank AG lowered their price target on shares of Twenty-First Century Fox from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Credit Suisse Group AG lowered their price target on shares of Twenty-First Century Fox from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, August 5th. Finally, Sanford C. Bernstein lowered shares of Twenty-First Century Fox from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $33.00 to $26.00 in a research report on Thursday, September 15th. Eleven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Twenty-First Century Fox has an average rating of “Buy” and an average price target of $31.61.
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Twenty-First Century Fox (NASDAQ:FOXA) traded down 0.16% during mid-day trading on Monday, reaching $24.69. 3,315,594 shares of the company were exchanged. The company has a market capitalization of $45.99 billion, a price-to-earnings ratio of 17.44 and a beta of 1.34. Twenty-First Century Fox has a 1-year low of $22.66 and a 1-year high of $31.40. The company has a 50 day moving average of $24.30 and a 200-day moving average of $27.17.
Twenty-First Century Fox (NASDAQ:FOXA) last announced its 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. Twenty-First Century Fox had a net margin of 10.08% and a return on equity of 21.63%. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last year, the business earned $0.39 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Twenty-First Century Fox will post $1.92 EPS for the current year.
The company also recently declared a dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Wednesday, September 14th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 12th. This is a boost from Twenty-First Century Fox’s previous dividend of $0.15. Twenty-First Century Fox’s payout ratio is 25.35%.
A number of hedge funds and other institutional investors have recently bought and sold shares of FOXA. Iowa State Bank bought a new position in shares of Twenty-First Century Fox during the second quarter valued at about $126,000. Johnson Financial Group Inc. boosted its position in shares of Twenty-First Century Fox by 5,109.9% in the second quarter. Johnson Financial Group Inc. now owns 4,741 shares of the company’s stock valued at $128,000 after buying an additional 4,650 shares during the last quarter. SevenBridge Financial Group LLC bought a new position in shares of Twenty-First Century Fox during the second quarter valued at about $166,000. Quadrant Capital Group LLC boosted its position in shares of Twenty-First Century Fox by 2.4% in the second quarter. Quadrant Capital Group LLC now owns 6,713 shares of the company’s stock valued at $171,000 after buying an additional 159 shares during the last quarter. Finally, MSI Financial Services Inc boosted its position in shares of Twenty-First Century Fox by 4.0% in the third quarter. MSI Financial Services Inc now owns 7,432 shares of the company’s stock valued at $180,000 after buying an additional 284 shares during the last quarter. Institutional investors own 53.33% of the company’s stock.
Twenty-First Century Fox Company Profile
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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