Pivotal Research lowered shares of Twenty-First Century Fox (NASDAQ:FOXA) from a buy rating to a hold rating in a research note released on Tuesday, Marketbeat reports. Pivotal Research currently has $38.00 price objective on the stock, up from their previous price objective of $37.00.
“We are downgrading both 21 st Century Fox and Discovery at this time, as those companies’ recent gains result in relatively fully-valued stocks. We maintain a Buy on Time Warner, Sell on Disney as well Hold ratings on both of CBS and Viacom. Ahead of 4Q17 earnings, we continue to see weak fundamentals for video-centric media owners. Cord shaving and cord-cutting erodes subscriber bases, constraining affiliate fee revenue growth. Viewing of video content is still expanding, although much of its growth accrues to newer SVOD services and YouTube. Advertising looks relatively worse, as the large brands who dominate it are generally reducing spending on the medium and are not likely to be replaced by enough emerging brands to make up the difference. This paired with marginal shifts into digital media lead to our view that national TV advertising declines going forward.”,” the firm’s analyst wrote.
FOXA has been the subject of several other research reports. Jefferies Group restated a buy rating and set a $35.00 price target on shares of Twenty-First Century Fox in a report on Tuesday, September 26th. BMO Capital Markets restated a buy rating and set a $35.00 price target on shares of Twenty-First Century Fox in a report on Wednesday, November 22nd. B. Riley raised their price target on Twenty-First Century Fox from $29.00 to $36.00 and gave the company a neutral rating in a report on Friday, November 17th. Piper Jaffray Companies set a $40.00 price target on Twenty-First Century Fox and gave the company a buy rating in a report on Saturday, December 16th. Finally, Royal Bank of Canada restated an outperform rating and set a $34.00 price target (down previously from $35.00) on shares of Twenty-First Century Fox in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $35.84.
Twenty-First Century Fox (NASDAQ:FOXA) traded up $0.53 during midday trading on Tuesday, reaching $36.73. The company’s stock had a trading volume of 6,820,000 shares, compared to its average volume of 15,020,000. The stock has a market cap of $67,720.00, a PE ratio of 22.67, a PEG ratio of 2.22 and a beta of 1.44. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.08 and a quick ratio of 1.73. Twenty-First Century Fox has a fifty-two week low of $24.81 and a fifty-two week high of $36.96.
Twenty-First Century Fox (NASDAQ:FOXA) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.80 billion. Twenty-First Century Fox had a return on equity of 21.41% and a net margin of 10.30%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS. equities analysts predict that Twenty-First Century Fox will post 1.98 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of FOXA. Beach Investment Management LLC. bought a new stake in shares of Twenty-First Century Fox during the 2nd quarter worth approximately $479,000. Schroder Investment Management Group bought a new stake in shares of Twenty-First Century Fox during the 2nd quarter worth approximately $235,000. CIBC World Markets Inc. lifted its stake in shares of Twenty-First Century Fox by 119.0% during the 2nd quarter. CIBC World Markets Inc. now owns 39,832 shares of the company’s stock worth $1,129,000 after acquiring an additional 21,643 shares during the last quarter. Eaton Vance Management lifted its stake in shares of Twenty-First Century Fox by 1.0% during the 2nd quarter. Eaton Vance Management now owns 85,526 shares of the company’s stock worth $2,424,000 after acquiring an additional 805 shares during the last quarter. Finally, AXA increased its holdings in Twenty-First Century Fox by 10.0% during the 2nd quarter. AXA now owns 397,312 shares of the company’s stock worth $11,259,000 after purchasing an additional 35,959 shares during the period. 54.41% of the stock is owned by hedge funds and other institutional investors.
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About Twenty-First Century Fox
Twenty-First Century Fox, Inc is a media and entertainment company. The Company’s segments include Cable Network Programming; Television; Filmed Entertainment, and Other, Corporate and Eliminations. The Cable Network Programming segment produces and licenses news, business news, sports, general entertainment, factual entertainment and movie programming for distribution.
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