FOX (NASDAQ:FOX) Stock Passes Below Two Hundred Day Moving Average - Here's Why

Fox Corporation (NASDAQ:FOX - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $55.93 and traded as low as $51.10. FOX shares last traded at $51.47, with a volume of 1,035,031 shares.

Key Stories Impacting FOX

Here are the key news stories impacting FOX this week:

• Negative Sentiment: Unusual put options activity suggests some traders are betting on further downside in Fox Corporation (FOX), even as the shares have bounced from recent lows following market reaction to the company’s Roku-related deal. Unusual Put Options Volume in Fox Corp After FOXA Stock Rebounds After Roku Deal Reaction
• Neutral Sentiment: FOX News and FOX Weather generated a steady stream of traffic with coverage of major political and weather events, including Iran developments, U.S. election politics, and Tropical Storm Bertha. This supports the value of Fox’s media assets, but the articles themselves do not clearly change the company’s financial outlook.
• Neutral Sentiment: Fox Corporation disclosed $1.34 million in lobbying spending tied to carriage, copyright, privacy, streaming, antitrust, and media-ownership issues, highlighting the company’s ongoing policy footprint, though the filing is not likely to move the stock by itself. Lobbying Update: $1,340,000 of FOX CORPORATION lobbying was just disclosed
• Negative Sentiment: Analysts are expecting Fox’s upcoming earnings to show a single-digit decline in earnings, which could weigh on sentiment ahead of the report. Here's What to Expect From Fox Corporation’s Next Earnings Report

Analyst Ratings Changes

Several equities analysts recently commented on FOX shares. Rothschild & Co Redburn set a $71.00 price objective on shares of FOX in a research report on Friday, July 10th. Zacks Research lowered shares of FOX from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Weiss Ratings cut shares of FOX from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday. Finally, Citigroup reissued a "buy" rating on shares of FOX in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, FOX presently has a consensus rating of "Moderate Buy" and an average target price of $74.33.

FOX Trading Down 0.2%

The firm has a market capitalization of $21.63 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.47 and a beta of 0.57. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90. The company has a 50 day moving average price of $53.18 and a two-hundred day moving average price of $55.93.

FOX (NASDAQ:FOX - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The firm had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.78 billion. On average, research analysts forecast that Fox Corporation will post 4.78 EPS for the current year.

Institutional Trading of FOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of FOX by 2,459.6% during the fourth quarter. SG Americas Securities LLC now owns 413,037 shares of the company's stock worth $26,818,000 after purchasing an additional 396,900 shares in the last quarter. Gabelli Funds LLC lifted its holdings in FOX by 5.2% during the 4th quarter. Gabelli Funds LLC now owns 566,600 shares of the company's stock worth $36,789,000 after buying an additional 28,200 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of FOX by 2.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 369,923 shares of the company's stock worth $24,019,000 after acquiring an additional 9,808 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of FOX in the 1st quarter valued at about $9,328,000. Finally, Allstate Corp raised its position in shares of FOX by 243.6% during the 4th quarter. Allstate Corp now owns 13,553 shares of the company's stock worth $880,000 after acquiring an additional 9,609 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company's stock.

FOX Company Profile

Fox Corporation NASDAQ: FOX is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX's core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.

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