FOX (FOXA) Expected to Announce Earnings on Thursday

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

FOX Stock Performance

NASDAQ FOXA opened at $58.70 on Tuesday. The stock has a market capitalization of $24.67 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.65 and a beta of 0.54. FOX has a twelve month low of $48.34 and a twelve month high of $76.39. The company has a current ratio of 2.90, a quick ratio of 2.65 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average of $57.82 and a 200 day moving average of $60.95.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FOXA. JPMorgan Chase & Co. boosted their price objective on FOX from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Rothschild & Co Redburn set a $71.00 target price on FOX and gave the company a “buy” rating in a research report on Friday, July 10th. Evercore set a $73.00 price target on shares of FOX in a research note on Tuesday, May 12th. UBS Group reissued a “neutral” rating on shares of FOX in a report on Monday, June 15th. Finally, Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given 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 an average target price of $73.56.

Institutional Investors Weigh In On FOX

Large investors have recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in shares of FOX by 9.2% during the 3rd quarter. Parallel Advisors LLC now owns 2,532 shares of the company’s stock worth $160,000 after purchasing an additional 214 shares during the period. Brown Brothers Harriman & Co. raised its holdings in FOX by 27.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock valued at $67,000 after buying an additional 229 shares during the period. Captrust Financial Advisors raised its holdings in FOX by 6.2% in the 2nd quarter. Captrust Financial Advisors now owns 5,597 shares of the company’s stock valued at $314,000 after buying an additional 327 shares during the period. FWL Investment Management LLC acquired a new position in FOX in the third quarter valued at about $26,000. Finally, United Capital Financial Advisors LLC lifted its position in FOX by 8.6% in the third quarter. United Capital Financial Advisors LLC now owns 5,609 shares of the company’s stock valued at $354,000 after buying an additional 443 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other 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.