FOX (FOXA) Projected to Announce Quarterly Earnings on Thursday

FOX (NASDAQ:FOXA) is expected to be announcing its results before the market opens on Thursday, August 6th. Analysts expect FOX to post earnings of $1.44 per share and revenue of $3.6434 billion for the quarter.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, May 11th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.30. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.78 billion. FOX had a net margin of 10.56% and a return on equity of 18.90%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. On average, analysts expect FOX to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

FOX Price Performance

FOXA opened at $59.08 on Wednesday. The company has a 50-day moving average of $57.70 and a 200-day moving average of $60.85. FOX has a 1-year low of $48.34 and a 1-year high of $76.39. The company has a market capitalization of $24.82 billion, a P/E ratio of 15.59, a PEG ratio of 1.67 and a beta of 0.54. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FOXA shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $79.00 price objective on shares of FOX in a research note on Tuesday, May 12th. Wells Fargo & Company lowered their target price on FOX from $71.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, July 6th. Evercore set a $73.00 price target on FOX in a research report on Tuesday, May 12th. JPMorgan Chase & Co. raised their price target on FOX from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Finally, UBS Group restated a “neutral” rating on shares of FOX in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. FWL Investment Management LLC acquired a new position in shares of FOX during the third quarter valued at $26,000. CYBER HORNET ETFs LLC acquired a new stake in FOX in the second quarter worth about $35,000. Quantbot Technologies LP bought a new position in shares of FOX in the third quarter valued at approximately $51,000. Geneos Wealth Management Inc. boosted its holdings in shares of FOX by 205.6% in the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after acquiring an additional 621 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of FOX by 27.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock valued at $67,000 after acquiring an additional 229 shares during the period. Institutional investors own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.