FOX (FOXA) Expected to Announce Earnings on Thursday

FOX (NASDAQ:FOXA) is projected to release 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 announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.26. The firm 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%.The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $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 Price Performance

Shares of FOXA stock opened at $58.58 on Thursday. The stock has a 50-day moving average price of $59.68 and a 200 day moving average price of $55.72. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The firm has a market cap 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 12 month low of $41.59 and a 12 month high of $65.30.

FOX Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were given 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 yield of 93.0%. FOX’s dividend payout ratio is 11.41%.

Hedge Funds Weigh In On FOX

Several institutional investors have recently modified their holdings of the stock. CYBER HORNET ETFs LLC bought a new position in shares of FOX during the 2nd quarter valued at about $35,000. Geneos Wealth Management Inc. lifted its holdings in shares of FOX by 205.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after purchasing an additional 621 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of FOX by 286.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,368 shares of the company’s stock valued at $77,000 after purchasing an additional 1,014 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of FOX by 6.2% during the 2nd quarter. Captrust Financial Advisors now owns 5,597 shares of the company’s stock valued at $314,000 after purchasing an additional 327 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of FOX by 19.7% during the 2nd quarter. Baird Financial Group Inc. now owns 17,500 shares of the company’s stock valued at $981,000 after purchasing an additional 2,876 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on FOXA. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, July 9th. Cfra Research upgraded FOX from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, August 5th. Guggenheim boosted their target price on FOX from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. UBS Group set a $65.00 target price on FOX and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Finally, Bank of America boosted their target price on FOX from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.60.

FOX Company Profile

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.