Zacks: Brokerages Expect Fox Corp (NASDAQ:FOXA) Will Post Earnings of $0.66 Per Share

Wall Street analysts expect Fox Corp (NASDAQ:FOXA) to post earnings of $0.66 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for FOX’s earnings. The lowest EPS estimate is $0.64 and the highest is $0.70. The firm is scheduled to announce its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that FOX will report full-year earnings of $2.35 per share for the current fiscal year, with EPS estimates ranging from $2.14 to $2.90. For the next fiscal year, analysts expect that the company will post earnings of $2.91 per share, with EPS estimates ranging from $2.50 to $3.45. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow FOX.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.47 billion. FOX’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share.

A number of research firms have commented on FOXA. Guggenheim cut shares of FOX from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $43.00 to $38.00 in a report on Monday, July 1st. Credit Suisse Group dropped their price objective on shares of FOX from $51.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Gabelli started coverage on shares of FOX in a report on Wednesday, May 15th. They set a “buy” rating and a $57.00 price objective on the stock. ValuEngine cut shares of FOX from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, BidaskClub downgraded FOX from a “hold” rating to a “sell” rating in a research note on Saturday, August 24th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. FOX presently has an average rating of “Hold” and an average target price of $43.15.

A hedge fund recently raised its stake in FOX stock. Dimensional Fund Advisors LP grew its position in shares of Fox Corp (NASDAQ:FOXA) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,594,654 shares of the company’s stock after buying an additional 15,713 shares during the quarter. Dimensional Fund Advisors LP owned 0.25% of FOX worth $221,095,000 as of its most recent filing with the Securities & Exchange Commission. 54.66% of the stock is currently owned by institutional investors and hedge funds.

Shares of FOXA stock traded down $0.30 during trading hours on Friday, hitting $34.00. 3,276,342 shares of the company were exchanged, compared to its average volume of 5,413,502. The company has a 50 day simple moving average of $34.57 and a two-hundred day simple moving average of $37.98. The firm has a market cap of $21.29 billion and a P/E ratio of 12.93. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.12 and a current ratio of 3.78. FOX has a fifty-two week low of $31.58 and a fifty-two week high of $41.95.

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 4th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, September 3rd. FOX’s dividend payout ratio (DPR) is presently 17.49%.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.

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