FOX (FOXA) Expected to Announce Earnings on Monday

Key Points

• FOX will report earnings before the open on Monday, May 11, with analysts forecasting about $0.9840 EPS and $3.7836 billion in revenue for the quarter.
• In the prior quarter FOX beat estimates with $0.82 EPS and $5.18 billion revenue, and analysts expect roughly $5 EPS for both the current and next fiscal years while the consensus rating is "Hold" with a $72.93 price target.
• Significant insider selling has occurred recently: CEO Lachlan Murdoch sold 637,752 shares and COO John Nallen sold 216,806, with insiders disposing of 1,586,871 shares (~$91.9M) in the last three months while insiders still own about 19.68% of the stock.

FOX (NASDAQ:FOXA - Get Free Report) is expected to be announcing its results before the market opens on Monday, May 11th. Analysts expect the company to announce earnings of $0.9840 per share and revenue of $3.7836 billion for the quarter.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.35. FOX had a net margin of 11.41% and a return on equity of 18.14%. The company had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period in the previous year, the business posted $0.96 earnings per share. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts expect FOX to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

FOX Stock Performance

FOX stock traded down $0.37 during trading on Monday, reaching $62.98. The company had a trading volume of 290,951 shares, compared to its average volume of 3,758,753. The firm has a market capitalization of $26.79 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 7.80 and a beta of 0.52. The company has a current ratio of 2.78, a quick ratio of 2.44 and a debt-to-equity ratio of 0.60. The firm's 50-day simple moving average is $59.78 and its 200 day simple moving average is $64.69. FOX has a 52 week low of $47.66 and a 52 week high of $76.39.

FOX Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were paid a $0.28 dividend. This represents a yield of 83.0%. The ex-dividend date was Wednesday, March 4th. FOX's dividend payout ratio is presently 13.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore increased their price objective on shares of FOX from $66.00 to $70.00 and gave the company an "in-line" rating in a report on Thursday, February 5th. Zacks Research lowered shares of FOX from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 5th. Bank of America downgraded shares of FOX from a "buy" rating to an "underperform" rating and set a $45.00 price target on the stock. in a report on Wednesday, February 25th. Morgan Stanley boosted their price target on shares of FOX from $74.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of FOX from $65.00 to $69.00 and gave the company a "neutral" rating in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $72.93.

Insider Activity

In related news, CEO Lachlan K. Murdoch sold 637,752 shares of FOX stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the sale, the chief executive officer owned 152 shares in the company, valued at $8,846.40. This trade represents a 99.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO John Nallen sold 216,806 shares of FOX stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $57.68, for a total transaction of $12,505,370.08. Following the sale, the chief operating officer directly owned 362,206 shares of the company's stock, valued at $20,892,042.08. This represents a 37.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,586,871 shares of company stock valued at $91,893,926. 19.68% of the stock is owned by insiders.

Institutional Trading of FOX

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in shares of FOX by 72.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company's stock worth $101,948,000 after acquiring an additional 762,645 shares in the last quarter. Lazard Asset Management LLC grew its holdings in FOX by 624.5% in the second 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. California State Teachers Retirement System increased its position in shares of FOX by 16.6% during the second quarter. California State Teachers Retirement System now owns 350,844 shares of the company's stock worth $19,661,000 after purchasing an additional 49,963 shares in the last quarter. Marshall Wace LLP increased its position in shares of FOX by 20.1% during the third quarter. Marshall Wace LLP now owns 276,831 shares of the company's stock worth $17,457,000 after purchasing an additional 46,261 shares in the last quarter. Finally, State of Tennessee Department of Treasury lifted its holdings in shares of FOX by 46.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 107,661 shares of the company's stock valued at $7,836,000 after purchasing an additional 33,997 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

About FOX

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.

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