FOX (NASDAQ:FOXA) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Fox Corporation (NASDAQ:FOXA)’s stock price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $61.88 and traded as low as $61.12. FOX shares last traded at $62.21, with a volume of 2,971,986 shares.

Trending Headlines about FOX

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Bank of America upgraded Fox Corporation (FOXA) to “Buy” from “Underperform” and raised its price target to $85 from $54. The bank expects the Roku acquisition to strengthen Fox’s growth outlook and generate approximately $700 million in additional annual earnings by 2028. Fox upgraded to Buy at Bank of America as Roku deal boosts growth outlook
• Positive Sentiment: Fox’s acquisition of Roku gives it a direct platform for distributing programming to viewers, potentially improving the reach and monetization of major content such as Sunday NFL games. Why Fox Can Finally Breathe a Sigh of Relief With Roku Deal—and Why the NFL Can’t
• Positive Sentiment: Options activity was notably bullish: investors bought 6,021 FOX call contracts, more than double the average volume of 2,759. This suggests increased speculative interest in further upside, though options activity is not a guarantee of future performance.
• Positive Sentiment: Fox received additional positive attention from a Zacks upgrade, with commentary suggesting the stock may have been undervalued relative to earnings estimates and intrinsic value. Fox Wins A Zacks Upgrade
• Neutral Sentiment: Reports indicate that Fox has officially acquired Roku, although some analyst commentary still describes the transaction as pending. The strategic benefits are positive, but execution, integration costs, and the ability to convert Roku’s platform into sustained earnings remain key considerations. FOX OFFICIALLY ACQUIRES ROKU
• Negative Sentiment: Fox recently traded below its 200-day moving average, a technical warning that may limit near-term momentum despite the stronger fundamental outlook. FOX Share Price Crosses Below 200-Day Moving Average

Analysts Set New Price Targets

A number of analysts have weighed in on FOXA shares. Wall Street Zen upgraded shares of FOX from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $80.00 target price on shares of FOX in a research note on Friday, August 14th. KeyCorp downgraded FOX to a “sector weight” rating in a report on Friday. Guggenheim reiterated a “buy” rating and issued a $85.00 price objective on shares of FOX in a report on Wednesday, September 23rd. Finally, Bank of America raised FOX from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $85.00 in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, FOX presently has an average rating of “Moderate Buy” and a consensus price target of $78.12.

FOX Stock Performance

The business’s fifty day simple moving average is $65.26 and its 200-day simple moving average is $61.91. The company has a market capitalization of $26.92 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17.

FOX (NASDAQ:FOXA) last released its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the prior year, the firm posted $1.27 earnings per share. The company’s quarterly revenue was up 28.1% on a year-over-year basis. As a group, equities analysts anticipate that Fox Corporation will post 5.94 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were paid a dividend of $0.29 per share. This represents a yield of 86.0%. The ex-dividend date was Wednesday, September 2nd. FOX’s payout ratio is presently 15.14%.

Insider Buying and Selling

In other FOX news, CEO Lachlan Murdoch acquired 149,934 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were purchased at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the purchase, the chief executive officer directly owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 20.89% of the company’s stock.

Institutional Trading of FOX

Several hedge funds and other institutional investors have recently bought and sold shares of FOXA. Squarepoint Ops LLC raised its position in shares of FOX by 12.4% in the second quarter. Squarepoint Ops LLC now owns 1,127,389 shares of the company’s stock worth $58,805,000 after acquiring an additional 124,143 shares during the period. Allianz Asset Management GmbH raised its stake in FOX by 2.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 966,811 shares of the company’s stock valued at $50,429,000 after purchasing an additional 24,511 shares during the last quarter. Junto Capital Management LP purchased a new stake in shares of FOX during the second quarter worth $34,773,000. SG Americas Securities LLC grew its position in shares of FOX by 299.8% in the first quarter. SG Americas Securities LLC now owns 511,811 shares of the company’s stock valued at $29,890,000 after purchasing an additional 383,782 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of FOX during the 2nd quarter valued at about $21,519,000. 52.52% of the stock is owned by institutional investors and hedge funds.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S. media company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and Tubi, an ad-supported streaming service offering movies, television programs, and other digital content.

FOX News Media operates FOX News Channel, FOX Business Network, FOX News Digital, and related audio and digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and broadcasts scripted and unscripted programming through the FOX broadcast network and other platforms.