Twenty-First Century Fox (FOXA) Downgraded by Pivotal Research

Pivotal Research downgraded shares of Twenty-First Century Fox (NASDAQ:FOXA) from a buy rating to a hold rating in a research report released on Tuesday, MarketBeat reports. Pivotal Research currently has $38.00 target price on the stock, up from their prior target price 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 commented.

Several other research firms have also recently issued reports on FOXA. Wells Fargo & Co upgraded shares of Twenty-First Century Fox to a market weight rating in a research report on Thursday, January 4th. Royal Bank of Canada raised their price objective on shares of Twenty-First Century Fox to $43.00 and gave the stock an outperform rating in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Cowen restated a hold rating and set a $37.00 price objective on shares of Twenty-First Century Fox in a research report on Friday, December 22nd. Jefferies Group raised their price objective on shares of Twenty-First Century Fox from $30.00 to $43.00 and gave the stock a buy rating in a research report on Friday, December 22nd. Finally, Piper Jaffray Companies set a $40.00 price objective on shares of Twenty-First Century Fox and gave the stock a buy rating in a research report on Saturday, December 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Twenty-First Century Fox presently has a consensus rating of Hold and an average price target of $35.84.

Twenty-First Century Fox (NASDAQ FOXA) traded up $0.53 during trading on Tuesday, reaching $36.73. 6,697,976 shares of the company traded hands, compared to its average volume of 10,814,230. Twenty-First Century Fox has a 52-week low of $24.81 and a 52-week high of $36.96. The firm has a market capitalization of $67,061.52, a PE ratio of 22.81, a P/E/G ratio of 2.19 and a beta of 1.34. The company has a current ratio of 2.08, a quick ratio of 1.73 and a debt-to-equity ratio of 1.09.

Twenty-First Century Fox (NASDAQ:FOXA) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Twenty-First Century Fox had a net margin of 10.30% and a return on equity of 21.41%. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.80 billion. During the same period last year, the business earned $0.51 earnings per share. Twenty-First Century Fox’s revenue was up 7.6% compared to the same quarter last year. research analysts anticipate that Twenty-First Century Fox will post 1.98 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital Research Global Investors increased its position in shares of Twenty-First Century Fox by 20.2% during the second quarter. Capital Research Global Investors now owns 85,581,646 shares of the company’s stock valued at $2,425,384,000 after acquiring an additional 14,398,422 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Twenty-First Century Fox by 0.4% in the second quarter. Vanguard Group Inc. now owns 67,589,972 shares of the company’s stock valued at $1,915,500,000 after purchasing an additional 287,817 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Twenty-First Century Fox by 2.5% in the second quarter. BlackRock Inc. now owns 59,202,463 shares of the company’s stock valued at $1,677,798,000 after purchasing an additional 1,432,981 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Twenty-First Century Fox by 8.8% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 37,460,118 shares of the company’s stock valued at $988,198,000 after purchasing an additional 3,018,013 shares in the last quarter. Finally, Independent Franchise Partners LLP grew its holdings in shares of Twenty-First Century Fox by 7.7% in the third quarter. Independent Franchise Partners LLP now owns 28,394,638 shares of the company’s stock valued at $749,050,000 after purchasing an additional 2,039,154 shares in the last quarter. Institutional investors and hedge funds own 54.41% of the company’s stock.

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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.

Analyst Recommendations for Twenty-First Century Fox (NASDAQ:FOXA)

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