FOX (FOXA) to Release Quarterly Earnings on Tuesday

Key Points

• FOX is set to announce its quarterly earnings on August 5th, with analysts anticipating earnings of $1.01 per share and revenue of $3.12 billion.
• The company's previous quarter earnings showed a significant increase, reporting $1.10 EPS and a revenue of $4.37 billion, surpassing expectations.
• FOX stock is currently valued at $56.40 per share, with a market cap of $25.36 billion and a consensus rating of "Hold" from analysts.

FOX (NASDAQ:FOXA - Get Free Report) will likely be issuing its quarterly earnings data before the market opens on Tuesday, August 5th. Analysts expect the company to announce earnings of $1.01 per share and revenue of $3.12 billion for the quarter.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.17. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. The company's quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.40 EPS. On average, analysts expect FOX to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

FOX Price Performance

Shares of FOX stock traded down $0.46 during trading on Wednesday, hitting $55.46. 3,218,952 shares of the stock traded hands, compared to its average volume of 2,655,842. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. The stock has a market cap of $24.94 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.25 and a beta of 0.51. The firm's fifty day moving average is $55.41 and its 200-day moving average is $53.37. FOX has a 52 week low of $36.09 and a 52 week high of $58.74.

Insider Transactions at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total transaction of $310,459.59. Following the sale, the chief financial officer owned 133,923 shares of the company's stock, valued at approximately $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FOX

A hedge fund recently raised its stake in FOX stock. Geneos Wealth Management Inc. grew its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 205.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 923 shares of the company's stock after purchasing an additional 621 shares during the quarter. Geneos Wealth Management Inc.'s holdings in FOX were worth $52,000 as of its most recent filing with the SEC. 52.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FOXA. Guggenheim reiterated a "buy" rating and issued a $62.00 price objective (up previously from $60.00) on shares of FOX in a report on Wednesday, June 25th. Wolfe Research upgraded FOX from an "underperform" rating to a "peer perform" rating in a report on Wednesday, July 9th. Bank of America raised their target price on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Morgan Stanley raised their target price on FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Finally, UBS Group set a $65.00 target price on FOX and gave the company a "buy" rating in a research note on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, FOX currently has a consensus rating of "Hold" and a consensus price target of $53.53.

About FOX

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.