FOX (NASDAQ:FOXA) Sees Strong Trading Volume – What’s Next?

Shares of Fox Corporation (NASDAQ:FOXA) saw an uptick in trading volume on Tuesday . 2,535,099 shares changed hands during mid-day trading, a decline of 34% from the previous session’s volume of 3,830,029 shares.The stock last traded at $52.7820 and had previously closed at $54.76.

More FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: The Roku deal could expand Fox’s streaming footprint by combining Fox’s sports, news and Tubi assets with Roku’s connected-TV platform and ad inventory, potentially creating a stronger long-term digital media business. Fox to buy streaming device maker Roku for $22 billion
• Neutral Sentiment: Wall Street commentary suggests analysts are adjusting their views on Roku after the acquisition announcement, but much of that commentary is centered on the deal’s implications rather than a clear near-term upside for Fox. Wall Street sets Roku stock price target amid $22B acquisition
• Neutral Sentiment: Fox’s expanded role in streaming and connected TV is drawing broad market attention, with some coverage framing the deal as a strategic pivot for the media industry. Morning Squawk
• Negative Sentiment: Investors are worried the acquisition is too expensive relative to Fox’s size, with reports highlighting heavy leverage, dilution and the risk that the deal could pressure earnings and free cash flow in the near term. Fox to buy streaming pioneer Roku in a $22 billion deal
• Negative Sentiment: Several articles say Fox shares fell sharply after the announcement as shareholders questioned whether the company is paying too much for Roku and whether management is taking on too much risk. Why Fox is betting $22 billion on Roku, and why investors aren’t convinced
• Negative Sentiment: Fox is also facing shareholder litigation/investigation chatter tied to the Roku merger, which can add uncertainty and weigh on sentiment. Hareholder Alert: The M&A Class Action Firm Announces An Investigation of Fox Corporation

Wall Street Analysts Forecast Growth

Several brokerages have commented on FOXA. Bank of America lowered shares of FOX from a “buy” rating to an “underperform” rating and set a $45.00 price objective on the stock. in a research report on Wednesday, February 25th. Evercore set a $73.00 price objective on shares of FOX in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FOX in a research report on Friday, May 22nd. Barclays lowered their price objective on shares of FOX from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Argus upgraded shares of FOX to a “hold” rating in a research note on Thursday, February 19th. 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. According to MarketBeat.com, FOX presently has an average rating of “Hold” and a consensus target price of $74.36.

FOX Price Performance

The stock has a market cap of $21.75 billion, a PE ratio of 13.66, a P/E/G ratio of 3.42 and a beta of 0.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65. The firm’s 50 day moving average price is $64.11 and its two-hundred day moving average price is $65.12.

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

Hedge Funds Weigh In On FOX

Hedge funds have recently bought and sold shares of the company. FWL Investment Management LLC purchased a new position in FOX during the third quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new position in FOX during the fourth quarter valued at approximately $27,000. CYBER HORNET ETFs LLC purchased a new position in FOX during the second quarter valued at approximately $35,000. Rosenberg Matthew Hamilton grew its stake in FOX by 58.5% during the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock valued at $51,000 after acquiring an additional 257 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in FOX during the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

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.