FOX (FOXA) Projected to Post Quarterly Earnings on Tuesday

FOX (NASDAQ:FOXA) is expected to announce its results before the market opens on Tuesday, February 3rd. Analysts expect the company to announce earnings of $0.46 per share and revenue of $5.0205 billion for the quarter.

FOX (NASDAQ:FOXA) last released its earnings results on Thursday, October 30th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.10 by $0.41. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.57 billion. FOX had a net margin of 12.35% and a return on equity of 18.61%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.45 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 Down 0.2%

Shares of FOX stock opened at $72.72 on Tuesday. FOX has a 12-month low of $46.42 and a 12-month high of $76.39. The firm has a market capitalization of $32.28 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.63 and a beta of 0.50. The company has a quick ratio of 3.03, a current ratio of 3.24 and a debt-to-equity ratio of 0.54. The stock’s fifty day moving average is $70.86 and its 200-day moving average is $63.49.

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 168,756 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $65.97, for a total value of $11,132,833.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Tomsic sold 138,397 shares of FOX stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $66.54, for a total transaction of $9,208,936.38. Following the sale, the chief financial officer owned 180,556 shares in the company, valued at approximately $12,014,196.24. This trade represents a 43.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 454,817 shares of company stock valued at $29,490,590. 19.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FOX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FWL Investment Management LLC bought a new stake in shares of FOX during the third quarter valued at approximately $26,000. CYBER HORNET ETFs LLC acquired a new position in FOX during the 2nd quarter worth $35,000. Quantbot Technologies LP acquired a new position in FOX during the 3rd quarter worth $51,000. Geneos Wealth Management Inc. boosted its position in FOX by 205.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after buying an additional 621 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of 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. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FOXA. Arete Research raised shares of FOX from a “neutral” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Tuesday, October 28th. Weiss Ratings restated a “buy (b)” rating on shares of FOX in a report on Monday, December 29th. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Wells Fargo & Company boosted their target price on shares of FOX from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Citigroup increased their target price on shares of FOX from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.07.

About FOX

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.