Fox Corporation [FOXA] attracts people because of its fundamentals

The stock of Fox Corporation (NASDAQ:FOXA) last traded at $34.65, down -0.80% from the previous session.

Data from the available sources indicates that Fox Corporation (NASDAQ:FOXA) is covered by 25 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $44.00 and a low of $28.00, we find $35.00. Given the previous closing price of $34.93, this indicates a potential upside of 0.2 percent. FOXA stock price is now 4.04% away from the 50-day moving average and 6.32% away from the 200-day moving average. The market capitalization of the company currently stands at $16.95B.

In total, 14 analysts have assigned it a hold rating, and 7 have given it a buy rating. Brokers who have rated the stock have averaged $36.07 as their price target over the next twelve months.

With the price target reduced from $35 to $31, Wells Fargo Downgraded its rating from Equal Weight to Underweight for Fox Corporation (NASDAQ: FOXA).

In other news, MURDOCH KEITH RUPERT, Chair sold 100,000 shares of the company’s stock on Jun 16. The stock was sold for $3,362,000 at an average price of $33.62. Upon completion of the transaction, the Chair now directly owns 157,513 shares in the company, valued at $5.46 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 09, Chief Legal and Policy Officer DINH VIET D sold 72,207 shares of the business’s stock. A total of $2,592,953 was realized by selling the stock at an average price of $35.91. This leaves the insider owning 49,384 shares of the company worth $1.71 million. Insiders disposed of 560,912 shares of company stock worth roughly $19.44 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in FOXA stock. A new stake in Fox Corporation shares was purchased by LAURION CAPITAL MANAGEMENT LP during the first quarter worth $30,077,000. AUSTRALIANSUPER PTY LTD invested $27,786,000 in shares of FOXA during the first quarter. In the first quarter, PORTSIDE WEALTH GROUP, LLC acquired a new stake in Fox Corporation valued at approximately $17,519,000. PARTNERS CAPITAL INVESTMENT GROUP, LLP acquired a new stake in FOXA for approximately $17,284,000. EA SERIES TRUST purchased a new stake in FOXA valued at around $6,867,000 in the second quarter. In total, there are 813 active investors with 112.03% ownership of the company’s stock.

With an opening price of $34.90 on Wednesday morning, Fox Corporation (NASDAQ: FOXA) set off the trading day. During the past 12 months, Fox Corporation has had a low of $28.01 and a high of $37.26. As of last week, the company has a debt-to-equity ratio of 0.71, a current ratio of 1.80, and a quick ratio of 1.60. According to the stock market information, the enterprise value for the company is $20.08B, which is based on a 16.40 price-to-earnings ratio, a 1.64 price-to-earnings-growth ratio, and a beta of 0.86. The fifty day moving average price for FOXA is $33.37 and a two-hundred day moving average price translates $32.62 for the stock.

The latest earnings results from Fox Corporation (NASDAQ: FOXA) was released for Jun, 2023. According to the Entertainment Company, earnings per share came in at $0.88, beating analysts’ expectations of $0.72 by 0.16. This compares to $0.51 EPS in the same period last year. The net profit margin was 7.80% and return on equity was 10.50% for FOXA. The company reported revenue of $4.08 billion for the quarter, compared to $3.46 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 18.21 percent. For the current quarter, analysts expect FOXA to generate $3.21B in revenue.

Moreover, the firm recently paid out its quarterly dividend on 09/27/2023. Investors who held shares on 08/30/2023 were paid a $0.26 dividend. On an annualized basis, this represents a $0.50 dividend and a 1.44% percent yield. There was an ex-dividend date of 08/29/2023 for this dividend. In terms of dividend payout ratio, FOXA is presently at 23.10%.

Fox Corporation(FOXA) Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional and virtual multi-channel video programming distributors (MVPDs) and other digital platforms, primarily in the U.S. It operates FOX News, a national cable news channel; FOX Business, a business news national cable channel; FS1 and FS2 multi-sport national networks; FOX Sports Racing, a video programming service that comprises motor sports programming; FOX Soccer Plus, a video programming network for live soccer and rugby competitions; FOX Deportes, a Spanish-language sports programming service; and Big Ten Network, a national video programming service. The Television segment acquires, produces, markets, and distributes programming. It operates The FOX Network, a national television broadcast network that broadcasts sports programming and entertainment; Tubi, an advertising-supported video-on-demand service; Fox Alternative Entertainment, a full-service production studio that develops and produces unscripted and alternative programming; MyNetworkTV, a programming distribution service; and Blockchain Creative Labs, which is focuses on the creation, distribution and monetization of Web3 content. This segment owns and operates 29 broadcast television stations. The Other, Corporate and Eliminations segment owns the FOX Studios Lot that provides production and post-production services, including 15 sound stages, two broadcast studios, theaters and screening rooms, editing rooms, and other television and film production facilities in Los Angeles, California. The company was incorporated in 2018 and is based in New York, New York.