FOX (FOXA) to Release Quarterly Earnings on Tuesday

FOX (NASDAQ:FOXA) is expected to release its results before the market opens on Tuesday, February 3rd. Analysts expect FOX to post 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 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.41. FOX had a return on equity of 18.61% and a net margin of 12.35%.The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the company posted $1.45 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. 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 $72.78 on Friday. The firm has a market capitalization of $32.31 billion, a PE ratio of 16.36, a PEG ratio of 1.61 and a beta of 0.50. The stock’s fifty day moving average is $71.40 and its 200 day moving average is $63.90. FOX has a fifty-two week low of $46.42 and a fifty-two week high of $76.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24.

Analyst Ratings Changes

FOXA has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of FOX from $61.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. TD Cowen reissued a “hold” rating on shares of FOX in a research note on Friday, October 31st. Morgan Stanley upped their target price on FOX from $70.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, December 18th. Finally, Arete Research upgraded FOX from a “neutral” rating to a “buy” rating and set a $97.00 price target on the stock in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.07.

Insiders Place Their Bets

In related news, insider Adam G. Ciongoli sold 29,897 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total value of $2,079,336.35. Following the transaction, the insider owned 35,978 shares of the company’s stock, valued at $2,502,269.90. This represents a 45.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Tomsic sold 138,397 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $66.54, for a total value of $9,208,936.38. Following the transaction, the chief financial officer owned 180,556 shares in the company, valued at $12,014,196.24. The trade was a 43.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 437,050 shares of company stock worth $28,347,106 in the last three months. Corporate insiders own 19.68% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently made changes to their positions in FOXA. FWL Investment Management LLC bought a new stake in shares of FOX in the third quarter valued at about $26,000. CYBER HORNET ETFs LLC purchased a new position in FOX during the 2nd quarter valued at about $35,000. Quantbot Technologies LP bought a new stake in shares of FOX in the 3rd quarter valued at about $51,000. Geneos Wealth Management Inc. lifted its position in shares of FOX by 205.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock worth $52,000 after purchasing an additional 621 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of FOX by 27.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock valued at $67,000 after purchasing an additional 229 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Company Profile

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.