Shares of Fox Corporation (NASDAQ:FOX – Get Free Report) hit a new 52-week low on Monday . The company traded as low as $45.73 and last traded at $45.6410, with a volume of 330413 shares. The stock had previously closed at $46.95.
Key FOX News
Here are the key news stories impacting FOX this week:
- Neutral Sentiment: Fox’s strategic direction is in focus after a report on Murdoch’s $23 billion move, which could reshape the company’s media mix and long-term growth strategy. Murdoch’s $23 Billion Bet Could Change Everything for Fox
- Neutral Sentiment: Fox News continued to generate attention with extensive coverage of U.S.-Iran negotiations, which may support audience engagement but has no direct near-term earnings impact. US, Iran wrap second day of Switzerland talks after first round yields roadmap for broader deal
- Neutral Sentiment: The network also ran multiple political opinion and video segments on Iran, Biden, and UK politics, reinforcing Fox’s strength in news engagement but offering little direct catalyst for earnings. Keir Starmer resigns as British prime minister after devastating Labour revolt and local election losses
Wall Street Analysts Forecast Growth
Several brokerages have commented on FOX. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Bank of America reiterated an “underperform” rating and issued a $45.00 price target (down from $80.00) on shares of FOX in a report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of FOX in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $75.00.
FOX Stock Down 4.8%
The firm has a 50 day moving average of $57.00 and a two-hundred day moving average of $58.19. The stock has a market capitalization of $18.77 billion, a PE ratio of 11.77, a P/E/G ratio of 1.84 and a beta of 0.54. The company has a current ratio of 2.90, a quick ratio of 2.65 and a debt-to-equity ratio of 0.60.
FOX (NASDAQ:FOX – Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.78 billion. Equities research analysts anticipate that Fox Corporation will post 4.76 earnings per share for the current year.
Institutional Investors Weigh In On FOX
A number of large investors have recently added to or reduced their stakes in FOX. Brown Brothers Harriman & Co. increased its holdings in FOX by 336.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock valued at $35,000 after acquiring an additional 475 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of FOX by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $76,000 after purchasing an additional 703 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of FOX in the fourth quarter valued at approximately $83,000. EverSource Wealth Advisors LLC increased its stake in shares of FOX by 130.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock worth $119,000 after purchasing an additional 1,301 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its stake in shares of FOX by 143.9% during the 1st quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company’s stock worth $143,000 after purchasing an additional 1,591 shares in the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.
About FOX
Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.
FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.
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