Fox Ends Fiscal 2016 on Mixed Note; Capital Allocation Shifting to Long-Term Investment
Fox reported a mixed end to fiscal 2016, as revenue was in line with our expectations but EBITDA was below our projections. While the firm announced a new $3 billion share repurchase authorization, management proclaimed that the buyback will be selective, balanced against opportunities to invest to grow the business. We are maintaining our wide moat rating and our $35 fair value estimate. Currently trading in 4-star territory, the stock offers an attractive entry point, though the shares may con...
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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