FOX (FOXA) to Release Quarterly Earnings on Thursday

FOX (NASDAQ:FOXA) is anticipated to announce 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 issued its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.26. FOX had a net margin of 13.88% and a return on equity of 18.86%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the business earned $0.90 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. On average, analysts expect FOX to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

FOX Stock Performance

NASDAQ:FOXA opened at $61.11 on Wednesday. The firm has a market capitalization of $27.23 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.44 and a beta of 0.54. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. FOX has a 12-month low of $41.76 and a 12-month high of $65.30. The firm has a 50-day moving average price of $59.82 and a 200 day moving average price of $56.12.

FOX Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were issued a $0.28 dividend. This represents a dividend yield of 93.0%. The ex-dividend date of this dividend was Wednesday, September 3rd. This is a boost from FOX’s previous dividend of $0.18. FOX’s payout ratio is currently 11.41%.

Institutional Trading of FOX

A number of hedge funds and other institutional investors have recently modified their holdings of FOXA. CYBER HORNET ETFs LLC acquired a new stake in shares of FOX in the 2nd quarter valued at $35,000. Captrust Financial Advisors increased its position in FOX by 6.2% in the second quarter. Captrust Financial Advisors now owns 5,597 shares of the company’s stock worth $314,000 after purchasing an additional 327 shares during the period. Lazard Asset Management LLC raised its holdings in FOX by 624.5% during the 2nd quarter. Lazard Asset Management LLC now owns 281,126 shares of the company’s stock worth $15,753,000 after purchasing an additional 242,321 shares during the last quarter. Ameriprise Financial Inc. lifted its position in FOX by 72.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock valued at $101,948,000 after purchasing an additional 762,645 shares during the period. Finally, California State Teachers Retirement System lifted its position in FOX by 16.6% during the 2nd quarter. California State Teachers Retirement System now owns 350,844 shares of the company’s stock valued at $19,661,000 after purchasing an additional 49,963 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen cut FOX from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of FOX in a report on Wednesday, October 8th. Barclays lifted their price target on shares of FOX from $52.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Guggenheim upped their price objective on shares of FOX from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Finally, Wolfe Research raised shares of FOX from an “underperform” rating to a “peer perform” rating in a report on Wednesday, July 9th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.82.

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.