FOX (NASDAQ:FOXA) Shares Break Above Fifty Day Moving Average – What’s Next?

Shares of Fox Corporation (NASDAQ:FOXA) passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $64.93 and traded as high as $68.04. FOX shares last traded at $67.10, with a volume of 9,424,019 shares.

Key FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Strong quarterly results: Fiscal Q1 adjusted EPS was $2.54, ahead of estimates of about $2.00, while revenue rose 22% year over year to $4.57 billion, topping forecasts of $4.32 billion. Fox Q1 fiscal 2027 results
• Positive Sentiment: Advertising drove the beat: Coverage attributed the results to World Cup broadcasts, midterm-election spending and Tubi, with advertising revenue reported up 47.4%. Political advertising exceeded $350 million across Fox’s portfolio. Fox Q1 earnings and advertising
• Positive Sentiment: Analysts lifted targets: JPMorgan raised its target to $83 and kept an Overweight rating; Deutsche Bank raised its target to $82 and maintained Buy. Bernstein raised its target to $74 but retained Market Perform. JPMorgan price-target report
• Negative Sentiment: Audience and valuation risks: CEO Lachlan Murdoch noted Fox News viewer fatigue as the midterm cycle winds down, amid year-over-year viewership declines. Separate coverage also suggested the stock may be fully priced after a large prior run-up, which could limit further upside. Fox News viewer fatigue

Analyst Ratings Changes

FOXA has been the subject of several analyst reports. Wall Street Zen raised shares of FOX from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Jefferies Financial Group downgraded shares of FOX to a “hold” rating in a research report on Friday, October 16th. Raymond James Financial upgraded FOX to a “strong-buy” rating in a report on Friday, October 16th. Needham & Company LLC initiated coverage on FOX in a report on Friday, October 16th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on FOX from $82.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.16.

FOX Stock Up 6.9%

The business has a 50 day moving average of $64.93 and a 200 day moving average of $62.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.79 and a quick ratio of 2.99. The firm has a market capitalization of $28.16 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, November 2nd. The company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.52. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.32 billion. FOX had a net margin of 11.30% and a return on equity of 23.96%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.51 earnings per share. On average, equities analysts anticipate that Fox Corporation will post 6.07 EPS for the current year.

Insider Activity at FOX

In related news, CEO Lachlan Murdoch acquired 149,934 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were purchased at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the acquisition, the chief executive officer directly owned 1,401,713 shares in the company, valued at $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 20.89% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC boosted its stake in FOX by 12.4% in the second quarter. Squarepoint Ops LLC now owns 1,127,389 shares of the company’s stock valued at $58,805,000 after acquiring an additional 124,143 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in FOX by 2.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 966,811 shares of the company’s stock worth $50,429,000 after acquiring an additional 24,511 shares during the period. Junto Capital Management LP acquired a new stake in FOX during the 2nd quarter worth $34,773,000. Aware Super Pty Ltd as trustee of Aware Super raised its position in shares of FOX by 0.8% during the 3rd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 522,079 shares of the company’s stock valued at $32,708,000 after acquiring an additional 4,381 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of FOX by 112.3% during the 3rd quarter. Pictet Asset Management Holding SA now owns 493,559 shares of the company’s stock valued at $30,921,000 after acquiring an additional 261,072 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

About FOX

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

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.