Nomura Securities analyst Anthony DiClemente reiterated Buy rating and $31 price target on 21st Century Fox (NASDAQ: FOXA), noting margin upside was offset by industry concern.

DiClemente commented, "Fox’s Cable Networks division surprised to the upside on OIBDA, and Television OIBDA was also ahead of our estimates. That said, Fox’s Filmed Entertainment results were down materially YoY, even below our previously lowered estimates. Film weighed on overall OIBDA, which was down YoY, though excluding currency, 1Q16 OIBDA growth would have been +5%. Given Fox’s reiterated FY16 guidance, our estimates and target price are broadly unchanged."

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Shares of 21st Century Fox closed at $31.28 yesterday.

Analyst Comments Analyst EPS Change Analyst EPS View

Time Warner amplifies fears that viewers are deserting pay TVNovember 4, 2015 3:16 PM Time Warner (TWX) Peers Trade Lower in Sympathy on Soft FY16 EPS Guidance November 4, 2015 11:01 AM 21st Century Fox (FOXA) Reports In-Line Q1 EPSNovember 4, 2015 7:34 AM 21st Century Fox Reports First Quarter Income from Continuing Operations Per Share of $0.34 and First Quarter Total Segment Operating Income before Depreciation and Amortization of $1.54 Billion on ToNovember 4, 2015 7:32 AM Time Warner warns on ad revenue as ratings fall, shares plungeNovember 4, 2015 7:10 AM