Twenty-First Century Fox, Inc. (NASDAQ:FOXA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Shares of Twenty-First Century Fox have underperformed the industry in the past six months. The company’s proposed acquisition of remaining 61% stake in Sky plc hit a roadblock after U.K. Culture Secretary Karen Bradley demanded detailed review from the Competition and Markets Authority.  Meanwhile, increase in cost at Cable Network Programming is also a worry factor for investors. The rise in expenses was mostly due to elevated sports programming costs. Management anticipates costs at Cable Network to go up in fiscal 2018.  Nevertheless, Cable Network Programming, which has been a driving force backed by rising affiliate fees, is expected to do well in fiscal 2018 too. Affiliate fees are the dominant sources of revenue for the Cable Network segment.  We also observe that, of late, earnings estimates for the company have witnessed downward revisions for the first-quarter and fiscal 2018.”

Other equities research analysts have also issued research reports about the company. Piper Jaffray Companies set a $35.00 price target on Twenty-First Century Fox and gave the stock a “buy” rating in a research report on Wednesday. KeyCorp reaffirmed a “buy” rating and set a $35.00 price target on shares of Twenty-First Century Fox in a research report on Sunday, September 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $35.00 price target on shares of Twenty-First Century Fox in a research report on Saturday, July 22nd. Cowen and Company reaffirmed a “market perform” rating and set a $32.00 price target (down previously from $33.00) on shares of Twenty-First Century Fox in a research report on Thursday, August 10th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $35.00 price target (up previously from $33.00) on shares of Twenty-First Century Fox in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $33.35.

Twenty-First Century Fox (NASDAQ:FOXA) traded up 0.08% during trading on Wednesday, reaching $26.17. The company’s stock had a trading volume of 2,495,997 shares. The stock’s 50 day moving average is $26.68 and its 200-day moving average is $27.72. The firm has a market cap of $48.44 billion, a P/E ratio of 16.50 and a beta of 1.26. Twenty-First Century Fox has a 52 week low of $25.14 and a 52 week high of $32.60.

Twenty-First Century Fox (NASDAQ:FOXA) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.79 billion. Twenty-First Century Fox had a return on equity of 22.46% and a net margin of 10.36%. Twenty-First Century Fox’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. On average, equities research analysts forecast that Twenty-First Century Fox will post $2.02 earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of FOXA. Capital Research Global Investors grew its stake in Twenty-First Century Fox by 20.2% in 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 purchasing an additional 14,398,422 shares in the last quarter. Independent Franchise Partners LLP grew its stake in Twenty-First Century Fox by 19.6% in the second quarter. Independent Franchise Partners LLP now owns 26,355,484 shares of the company’s stock valued at $746,914,000 after purchasing an additional 4,315,548 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Twenty-First Century Fox by 132,582.5% in the first quarter. Point72 Asset Management L.P. now owns 2,653,649 shares of the company’s stock valued at $85,952,000 after purchasing an additional 2,651,649 shares in the last quarter. Northern Trust Corp grew its stake in Twenty-First Century Fox by 17.4% in the second quarter. Northern Trust Corp now owns 17,652,970 shares of the company’s stock valued at $500,285,000 after purchasing an additional 2,621,748 shares in the last quarter. Finally, Boston Partners grew its stake in Twenty-First Century Fox by 19.4% in the second quarter. Boston Partners now owns 15,926,008 shares of the company’s stock valued at $451,343,000 after purchasing an additional 2,592,039 shares in the last quarter. Hedge funds and other institutional investors own 53.55% of the company’s stock.

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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