FOX (NASDAQ:FOXA) Reaches New 12-Month Low – Here’s What Happened

Fox Corporation (NASDAQ:FOXA)’s share price reached a new 52-week low on Tuesday . The company traded as low as $48.55 and last traded at $49.39, with a volume of 11672904 shares changing hands. The stock had previously closed at $52.23.

Analysts Set New Price Targets

FOXA has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of FOX from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Wells Fargo & Company increased their target price on shares of FOX from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $79.00 target price on shares of FOX in a report on Tuesday, May 12th. Bank of America cut FOX from a “buy” rating to an “underperform” rating and set a $45.00 price target for the company. in a research report on Wednesday, February 25th. Finally, Seaport Research Partners reiterated a “buy” rating and set a $61.00 price target on shares of FOX in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, FOX currently has a consensus rating of “Hold” and an average target price of $74.36.

FOX Price Performance

The company has a market capitalization of $20.75 billion, a P/E ratio of 13.03, a PEG ratio of 1.86 and a beta of 0.51. The stock’s fifty day simple moving average is $63.25 and its 200-day simple moving average is $64.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, May 11th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the company posted $1.10 earnings per share. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, equities analysts forecast that Fox Corporation will post 4.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FOXA. Strategic Investment Advisors MI lifted its holdings in shares of FOX by 19.8% during the first quarter. Strategic Investment Advisors MI now owns 83,066 shares of the company’s stock worth $4,855,000 after buying an additional 13,749 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of FOX by 20.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock worth $85,000 after acquiring an additional 251 shares during the last quarter. Andra AP fonden grew its stake in shares of FOX by 208.1% in the first quarter. Andra AP fonden now owns 247,000 shares of the company’s stock worth $14,425,000 after acquiring an additional 166,822 shares during the last quarter. Wilkerson Advisory Group LLC increased its position in FOX by 50.6% during the first quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock worth $84,000 after acquiring an additional 482 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in FOX by 9.9% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 287,000 shares of the company’s stock worth $16,755,000 after acquiring an additional 25,900 shares during the period. 52.52% of the stock is owned by institutional investors.

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.