fuboTV (NYSE:FUBO) Announces Quarterly Earnings Results

fuboTV (NYSE:FUBO) issued its quarterly earnings results on Tuesday. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06), FiscalAI reports. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.45 billion. fuboTV had a net margin of 7.61% and a negative return on equity of 6.66%. The firm’s revenue was up 40.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) earnings per share.

fuboTV Stock Performance

Shares of NYSE:FUBO opened at $2.28 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $2.64 and a 200-day moving average price of $3.37. The company has a market cap of $779.70 million, a price-to-earnings ratio of 6.32 and a beta of 1.93. fuboTV has a 12 month low of $2.19 and a 12 month high of $4.72.

Insider Activity at fuboTV

In other fuboTV news, CFO John Janedis sold 170,585 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $3.16, for a total transaction of $539,048.60. Following the completion of the transaction, the chief financial officer owned 130,478 shares of the company’s stock, valued at $412,310.48. This represents a 56.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David Gandler sold 170,279 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $2.55, for a total value of $434,211.45. Following the completion of the sale, the chief executive officer owned 561,428 shares of the company’s stock, valued at approximately $1,431,641.40. This trade represents a 23.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 610,095 shares of company stock worth $1,818,811 in the last 90 days. Company insiders own 5.30% of the company’s stock.

Institutional Trading of fuboTV

Several large investors have recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC raised its holdings in fuboTV by 13.2% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 42,757 shares of the company’s stock worth $177,000 after purchasing an additional 5,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of fuboTV by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 171,039 shares of the company’s stock valued at $660,000 after purchasing an additional 6,857 shares in the last quarter. Quadcap Wealth Management LLC increased its position in shares of fuboTV by 21.7% during the third quarter. Quadcap Wealth Management LLC now owns 55,908 shares of the company’s stock valued at $232,000 after buying an additional 9,986 shares during the period. Focus Partners Wealth bought a new position in fuboTV in the first quarter worth about $30,000. Finally, Baird Financial Group Inc. raised its stake in fuboTV by 20.1% in the second quarter. Baird Financial Group Inc. now owns 61,958 shares of the company’s stock worth $239,000 after buying an additional 10,363 shares in the last quarter. Institutional investors own 39.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FUBO shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of fuboTV in a research note on Wednesday, October 8th. Zacks Research downgraded shares of fuboTV from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $4.25 price objective on shares of fuboTV in a research note on Tuesday, November 4th. Wall Street Zen upgraded fuboTV from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Raymond James Financial assumed coverage on fuboTV in a report on Monday, December 1st. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.58.

fuboTV Company Profile

fuboTV Inc is a sports-focused live TV streaming platform that provides subscribers with access to a broad range of televised sports, news and entertainment programming. The service offers tiered channel packages featuring major networks such as ESPN, Fox Sports, NBC and regional sports networks, along with bundled options for premium channels and international programming. A core element of fuboTV’s proposition is its cloud DVR functionality, which enables users to record live events and store them for later viewing.

In addition to its live television offerings, fuboTV has developed an in-house ad-supported streaming network—fubo Sports Network—that delivers original sports news, analysis and highlights.