Stocks of Fox Corporation (NASDAQ:FOXA) traded higher last session on Wall Street, down -2.30% to $31.38.
According to the data, Fox Corporation (NASDAQ:FOXA) has 24 analysts covering its stock. 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 $36.00. Given the previous closing price of $32.12, this indicates a potential upside of 12.08 percent. FOXA stock price is now -5.50% away from the 50-day moving average and -4.78% away from the 200-day moving average. The market capitalization of the company currently stands at $14.54B.
A total of 14 analysts have issued a hold rating and 7 have given it a buy rating. Brokers who have rated the stock have averaged $36.31 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, DINH VIET D, Chief Legal and Policy Officer sold 231,865 shares of the company’s stock on Aug 17. The stock was sold for $7,744,098 at an average price of $33.40. Upon completion of the transaction, the Chief Legal and Policy Officer now directly owns 56,161 shares in the company, valued at $1.76 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 15, Executive Chair, CEO MURDOCH LACHLAN K bought 141,367 shares of the business’s stock. A total of $4,783,859 was incurred on buying the stock at an average price of $33.84. This leaves the insider owning 956,702 shares of the company worth $30.02 million. Insiders disposed of 863,860 shares of company stock worth roughly $27.11 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 AUSTRALIANSUPER PTY LTD during the first quarter worth $25,163,000. HRT FINANCIAL LP invested $17,905,000 in shares of FOXA during the first quarter. In the first quarter, NATIXIS acquired a new stake in Fox Corporation valued at approximately $12,354,000. CAMBRIA INVESTMENT MANAGEMENT, L.P. acquired a new stake in FOXA for approximately $6,615,000. EA SERIES TRUST purchased a new stake in FOXA valued at around $6,219,000 in the second quarter. In total, there are 813 active investors with 112.03% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $32.14 for Fox Corporation (NASDAQ: FOXA). 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 0.69, a current ratio of 1.90, and a quick ratio of 1.80. According to the stock market information, the enterprise value for the company is $18.72B, which is based on a 13.60 price-to-earnings ratio, a 4.14 price-to-earnings-growth ratio, and a beta of 0.87. The fifty day moving average price for FOXA is $33.15 and a two-hundred day moving average price translates $32.96 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 $0.55 EPS in the same period last year. The net profit margin was 8.30% and return on equity was 11.30% for FOXA. The company reported revenue of $3.03 billion for the quarter, compared to $3.03 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.03 percent. For the current quarter, analysts expect FOXA to generate $3.2B 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 $0.52 dividend and a 1.66% 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 21.60%.
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 cable television systems, direct broadcast satellite operators, and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S. Television segment produces, acquires, markets, and distributes programming through the FOX broadcast network, advertising supported video-on-demand service Tubi, and power broadcast television stations including duopolies and other digital platform; and engages in production of content for company and third parties. Other, Corporate and Eliminations segment comprises the FOX Studio Lot which provides television and film production services including office space, studio operation services, and facility operations; and Credible, a U.S. consumer finance marketplace. The company was incorporated in 2018 and is headquartered in New York, New York.
