FOX (FOXA) Expected to Announce Earnings on Thursday

FOX (NASDAQ:FOXA) is anticipated to post its results before the market opens on Thursday, October 30th. Analysts expect FOX to post earnings of $1.06 per share and revenue of $3.5706 billion for the quarter.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.26. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%.FOX’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. On average, analysts expect FOX to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

FOX Stock Performance

Shares of NASDAQ FOXA opened at $58.58 on Thursday. The business has a fifty day simple moving average of $59.68 and a 200 day simple moving average of $55.72. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $26.10 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.38 and a beta of 0.54. FOX has a one year low of $41.59 and a one year high of $65.30.

FOX Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were paid a $0.28 dividend. The ex-dividend date was Wednesday, September 3rd. This is a positive change from FOX’s previous dividend of $0.18. This represents a dividend yield of 93.0%. FOX’s dividend payout ratio is currently 11.41%.

Institutional Trading of FOX

A number of hedge funds and other institutional investors have recently made changes to their positions in FOXA. Geneos Wealth Management Inc. increased its stake 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 buying an additional 621 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of FOX by 286.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,368 shares of the company’s stock valued at $77,000 after buying an additional 1,014 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of FOX by 19.7% in the second quarter. Baird Financial Group Inc. now owns 17,500 shares of the company’s stock valued at $981,000 after buying an additional 2,876 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of FOX by 16.6% in the second quarter. California State Teachers Retirement System now owns 350,844 shares of the company’s stock valued at $19,661,000 after buying an additional 49,963 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of FOX by 72.0% in the second quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock valued at $101,948,000 after buying an additional 762,645 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Cfra Research upgraded FOX from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 5th. Guggenheim upped their target price on FOX from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Barclays upped their price target on FOX from $52.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Morgan Stanley set a $65.00 price target on FOX in a research report on Tuesday, September 9th. Finally, Wells Fargo & Company upped their price target on FOX from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, FOX currently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.