A plan for an increased stock buyback program as well as higher advertising revenue played well with investors and finance experts.
and included higher advertising revenue, but it was not only its financials that drew Wall Street praise on Wednesday. Analysts also lauded an increased stock buyback program and its strategic implications for the company after the Murdoch family recently dropped plans to merge it with News Corp. And the Street liked what it saw.
CFRA Research analyst Kenneth Leon raised his stock price target on Fox by $7 to $41, while reiterating his “buy” rating after the latest quarterly update on Wednesday. “With low investment risk to the TV streaming wars, Fox stands out with #1 ratings for Fox Sports and Fox News,” he wrote in a note to investors. “Its long-term strategy of ‘what’s next’ has been questioned by investors, but we think Fox can grow profitably and return capital from the $7.0 billion buyback plan.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fox Corp. Ad Revenue Climbs 4% In A Tough Quarter, Boosted By NFL And World CupFox Corp. matched Wall Street expectations for its fiscal second quarter, powered by NFL football in the U.S. and football at the World Cup. The company reported total revenue in the quarter ending…
Read more »
Fox Corp. Quarterly Ad Revenue Rises 4 Percent Driven by Sports, Midterm ElectionsAfter the Murdoch family recently dropped plans to merge Fox with News Corp, the company reported its fiscal second-quarter results.
Read more »
Fox Eyes M&A After Merger With News Corp. Scrapped: “Scale Is Important” – Lachlan MurdochFox will be actively pursuing M&A opportunities now that it won’t be merging with News Corp. Outside shareholders of both of the Murdoch family holdings had protested after patriarch Rupe…
Read more »
Bitcoin Miners Hut 8, US Bitcoin Corp. Announce MergerBitcoin mining firms Hut8Mining and U.S. Bitcoin Corp. are merging to form a new company with access to 825 MW of energy. Egreechee reports
Read more »
DuPont stock dips premarket as earnings beat is offset by soft guidanceDuPont de Nemours Inc. stock slid 1.6% in premarket trade Tuesday, after the chemicals giant topped estimates for the fourth quarter, but offered guidance...
Read more »
Pinterest stock pares back losses, but earnings could leave some feeling 'hungry'Pinterest Inc. found some defenders after a number of misses in its latest earnings report, but several analysts were left wanting
Read more »