FOX (FOXA) Expected to Announce Quarterly Earnings on Monday

FOX (NASDAQ:FOXA) is expected to be releasing its results before the market opens on Monday, November 2nd. Analysts expect the company to announce earnings of $2.02 per share and revenue of $4.32 billion for the quarter.

FOX (NASDAQ:FOXA) last released its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, analysts expect FOX to post $6.06 EPS for the current fiscal year and $5.94 EPS for the next fiscal year.

FOX Price Performance

FOX stock opened at $63.24 on Friday. FOX has a 12 month low of $48.34 and a 12 month high of $76.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. The business has a 50 day simple moving average of $65.09 and a 200-day simple moving average of $62.32. The stock has a market capitalization of $26.54 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.12 and a beta of 0.60.

FOX Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were given a $0.29 dividend. This represents a yield of 86.0%. The ex-dividend date was Wednesday, September 2nd. FOX’s dividend payout ratio (DPR) is 15.14%.

Insider Buying and Selling at FOX

In other FOX news, CEO Lachlan Murdoch purchased 149,934 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average cost of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the purchase, the chief executive officer directly owned 1,401,713 shares in the company, valued at $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 20.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on FOXA. Oppenheimer cut shares of FOX to a “market perform” rating in a research note on Friday, October 16th. Bank of America upgraded shares of FOX from an “underperform” rating to a “buy” rating and raised their target price for the stock from $54.00 to $85.00 in a research note on Friday, October 16th. Citizens Jmp started coverage on shares of FOX in a report on Monday, September 14th. They issued a “market outperform” rating and a $95.00 target price on the stock. Rothschild & Co Redburn raised shares of FOX from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Friday, July 10th. Finally, Needham & Company LLC started coverage on shares of FOX in a research note on Friday, October 16th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.94.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.