Twenty-First Century Fox Inc. (FOXA) Upgraded 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 research report issued to clients and 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 equities analysts have also weighed in on FOXA. Nomura restated a “buy” rating on shares of Twenty-First Century Fox in a report on Saturday, July 9th. Jefferies Group reduced their target price on shares of Twenty-First Century Fox from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. FBR & Co reduced their target price on shares of Twenty-First Century Fox from $42.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, August 4th. RBC Capital Markets restated a “buy” rating and set a $32.00 target price (down previously from $36.00) on shares of Twenty-First Century Fox in a report on Thursday, August 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Twenty-First Century Fox in a report on Friday, August 5th. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.61.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/twenty-first-century-fox-inc-foxa-upgraded-at-zacks-investment-research.html
Twenty-First Century Fox (NASDAQ:FOXA) traded down 0.044% during trading on Monday, reaching $24.719. 3,781,271 shares of the company’s stock traded hands. Twenty-First Century Fox has a 1-year low of $22.66 and a 1-year high of $31.40. The stock has a market capitalization of $46.04 billion, a P/E ratio of 17.457 and a beta of 1.34. The stock has a 50-day moving average price of $24.30 and a 200 day moving average price of $27.17.
Twenty-First Century Fox (NASDAQ:FOXA) last posted its earnings results on Wednesday, August 3rd. The company reported $0.45 earnings per share 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 net margin of 10.08% and a return on equity of 21.63%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. Equities research analysts expect that Twenty-First Century Fox will post $1.92 earnings per share for the current year.
The business also recently declared a dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Wednesday, September 14th will be paid a $0.18 dividend. This is a positive change from Twenty-First Century Fox’s previous dividend of $0.15. The ex-dividend date is Monday, September 12th. Twenty-First Century Fox’s dividend payout ratio is currently 25.35%.
Several hedge funds have recently modified their holdings of the company. Candriam Luxembourg S.C.A. raised its stake in shares of Twenty-First Century Fox by 89.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 549,172 shares of the company’s stock worth $14,856,000 after buying an additional 259,862 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in Twenty-First Century Fox by 3.4% in the second quarter. Cullen Frost Bankers Inc. now owns 409,595 shares of the company’s stock worth $11,079,000 after buying an additional 13,458 shares during the last quarter. Bank of Montreal Can acquired a new stake in Twenty-First Century Fox during the second quarter worth approximately $14,983,000. Zurich Insurance Group Ltd FI increased its stake in Twenty-First Century Fox by 48.4% in the first quarter. Zurich Insurance Group Ltd FI now owns 182,966 shares of the company’s stock worth $5,101,000 after buying an additional 59,715 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in Twenty-First Century Fox by 3.7% in the second quarter. Raymond James Trust N.A. now owns 9,368 shares of the company’s stock worth $254,000 after buying an additional 336 shares during the last quarter. 53.33% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Twenty-First Century Fox Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Twenty-First Century Fox Inc. and related companies with MarketBeat.com's FREE daily email newsletter.