$3.08 Billion in Sales Expected for Fox Co. (NASDAQ:FOXA) This Quarter

Share on StockTwits

Brokerages predict that Fox Co. (NASDAQ:FOXA) will announce sales of $3.08 billion for the current quarter, Zacks reports. Three analysts have provided estimates for FOX’s earnings, with the lowest sales estimate coming in at $3.02 billion and the highest estimate coming in at $3.13 billion. FOX reported sales of $3.44 billion during the same quarter last year, which indicates a negative year over year growth rate of 10.5%. The firm is expected to issue its next earnings results on Wednesday, May 5th.

According to Zacks, analysts expect that FOX will report full year sales of $12.56 billion for the current financial year, with estimates ranging from $12.41 billion to $12.64 billion. For the next year, analysts forecast that the firm will post sales of $12.95 billion, with estimates ranging from $12.75 billion to $13.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for FOX.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Monday, February 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.19. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4 billion. FOX had a net margin of 13.00% and a return on equity of 16.65%. FOX’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share.

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their price objective on FOX from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, February 8th. TheStreet raised shares of FOX from a “c” rating to a “b-” rating in a report on Friday, March 12th. Rosenblatt Securities increased their price target on shares of FOX from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Wednesday, February 10th. Zacks Investment Research cut FOX from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a research note on Thursday, February 11th. Finally, Macquarie lifted their target price on FOX from $27.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, January 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.94.

NASDAQ:FOXA traded up $0.05 on Friday, reaching $37.47. The stock had a trading volume of 2,543,920 shares, compared to its average volume of 5,787,961. FOX has a 12-month low of $23.57 and a 12-month high of $44.80. The stock has a market cap of $22.13 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 7.35 and a beta of 1.27. The company has a current ratio of 4.21, a quick ratio of 3.57 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average of $38.78 and a 200 day moving average of $31.52.

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, April 7th. Stockholders of record on Wednesday, March 10th were paid a $0.23 dividend. This represents a dividend yield of 1.4%. The ex-dividend date was Tuesday, March 9th. FOX’s dividend payout ratio is presently 18.55%.

Large investors have recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC acquired a new stake in FOX in the 4th quarter valued at about $31,000. Tompkins Financial Corp boosted its holdings in FOX by 1,947.0% during the fourth quarter. Tompkins Financial Corp now owns 1,351 shares of the company’s stock worth $32,000 after buying an additional 1,285 shares in the last quarter. Valeo Financial Advisors LLC grew its position in FOX by 1,538.5% in the first quarter. Valeo Financial Advisors LLC now owns 1,065 shares of the company’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. Vantage Consulting Group Inc bought a new position in shares of FOX in the fourth quarter valued at $47,000. Finally, Laffer Tengler Investments acquired a new stake in shares of FOX during the 4th quarter valued at $52,000. 58.55% of the stock is currently owned by hedge funds and other institutional investors.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States. 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 primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online multi-channel video programming distributors.

Further Reading: How is diluted EPS different from basic EPS?

Get a free copy of the Zacks research report on FOX (FOXA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for FOX (NASDAQ:FOXA)

Receive News & Ratings for FOX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FOX and related companies with MarketBeat.com's FREE daily email newsletter.