Twenty-First Century Fox (FOXA) Lowered to Hold at Pivotal Research

Pivotal Research cut shares of Twenty-First Century Fox (NASDAQ:FOXA) from a buy rating to a hold rating in a report released on Tuesday morning, MarketBeat Ratings reports. They currently have $38.00 target price on the stock, up from their previous 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.”,” Pivotal Research’s analyst commented.

FOXA has been the subject of a number of other research reports. Jefferies Group reiterated a buy rating and issued a $35.00 price target on shares of Twenty-First Century Fox in a research note on Tuesday, September 26th. BMO Capital Markets reiterated a buy rating and issued a $35.00 price target on shares of Twenty-First Century Fox in a research note on Wednesday, November 22nd. B. Riley lifted their price target on shares of Twenty-First Century Fox from $29.00 to $36.00 and gave the stock a neutral rating in a research note on Friday, November 17th. Piper Jaffray Companies set a $40.00 price target on shares of Twenty-First Century Fox and gave the stock a buy rating in a research note on Saturday, December 16th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $34.00 price target (down previously from $35.00) on shares of Twenty-First Century Fox in a research note on Thursday, November 9th. Two 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. The stock has an average rating of Hold and an average price target of $35.84.

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

Twenty-First Century Fox (NASDAQ:FOXA) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.80 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. analysts predict that Twenty-First Century Fox will post 1.98 EPS for the current year.

Several large investors have recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in shares of Twenty-First Century Fox by 1.2% during the 2nd quarter. Sterling Capital Management LLC now owns 8,494 shares of the company’s stock worth $241,000 after buying an additional 99 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Twenty-First Century Fox by 0.5% during the 2nd quarter. Nordea Investment Management AB now owns 55,238 shares of the company’s stock worth $1,565,000 after buying an additional 282 shares during the last quarter. First Allied Advisory Services Inc. lifted its position in shares of Twenty-First Century Fox by 2.6% during the 2nd quarter. First Allied Advisory Services Inc. now owns 14,781 shares of the company’s stock worth $425,000 after buying an additional 375 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of Twenty-First Century Fox by 2.6% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 15,802 shares of the company’s stock worth $448,000 after buying an additional 398 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in shares of Twenty-First Century Fox by 8.2% during the 2nd quarter. MML Investors Services LLC now owns 10,167 shares of the company’s stock worth $288,000 after buying an additional 767 shares during 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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