Fox Corporation (NASDAQ:FOXA) saw an upside of 5.59% to close Tuesday at $34.93 after adding $1.85 on the day. The 5-day average trading volume is 5,957,020 shares of the company’s common stock. It has gained $35.22 in the past week and touched a new high 3 times within the past 5 days. An average of 4,391,060 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,340,524.
FOXA’s 1-month performance is 3.65% or $0.85 on its low of $32.72 reached on 08/03/23. The company’s shares have touched a 52-week low of $28.01 and high of $37.26, with the stock’s rally to the 52-week high happening on 02/17/23. YTD, FOXA has achieved 15.01% or $4.56 and has reached a new high 17 times. However, the current price is down -6.25% from the 52-week high price.
Insider Transactions
FOXA stock investors last saw insider trading activity on Jun 16.MURDOCH KEITH RUPERT (Chair) most recently sold 100,000 shares at $33.62 per share on Jun 16. This transaction cost the insider $3,362,000. Chief Legal and Policy Officer, DINH VIET D, sold 72,207 shares at a price of $35.91 on Feb 09. Then, on Aug 15, Executive Chair, CEO MURDOCH LACHLAN K sold 126,773 shares at a price of $36.50 per share. This transaction amounted to $4,627,214.
Valuation Metrics
FOXA stock has a beta of 0.87. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.15 while the price-to-book (PB) in the most recent quarter is 1.79, with the price to cash flow ratio at 10.78.
Fox Corporation’s quick ratio for the period ended March 30 was 1.60, with the current ratio over the same period at 1.80. As well, the company’s long term debt to equity for the quarter ending March 30 was 0.59, while the total debt to equity was 0.71.. In terms of profitability, the gross margin trailing 12 months is 35.50%. The trailing 12-month EBITDA margin is 21.02% while for the period ending March 30, Fox Corporation’s operating margin was 11.80%. The firm’s gross profit as reported stood at $4.86 billion against revenue of $13.97 billion.
Earnings Surprise
For the quarterly period ending March 30 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 624.07% to -$54.0 million, while revenue of $313.0 million was 679.63% off the previous quarter. Analysts expected FOXA to announce $0.87 per share in earnings in its latest quarter, but it posted $0.94, representing a 8.00% surprise. EBITDA for the quarter stood at more than $833.0 million. FOXA stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 12.14 billion, with total debt at $8.22 billion. Shareholders hold equity totaling $504.64 million.
Let’s look briefly at Fox Corporation (FOXA) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 74.74% to suggest the stock is trending Overbought, with historical volatility in this time period at 28.04%.
The stock’s 5-day moving average is $33.47, reflecting a +5.02% or $1.67 change from its current price. FOXA is currently trading +3.56% above its 20-day SMA, +7.41% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +12.42% and SMA200 by+19.13%.
Stochastic %K and %D was 44.75% and 29.55% and the average true range (ATR) pointed at 0.73. The RSI (14) points at 67.81%, while the 14-day stochastic is at 88.42% with the period’s ATR at 0.69. The stock’s 9-day MACD Oscillator is pointing at 0.31 and 0.33 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Fox Corporation (NASDAQ: FOXA), Wells Fargo downgraded it to an Underweight rating. They previously had an Equal weight rating on the stock. Analysts offering their rating for FOXA stock have a consensus rating for the stock as Hold. Currently, 3 brokerage advisors rate FOXA as a “sell,”, while 14 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 7 have offered a “buy” rating.
What is FOXA’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $28.00 and a high of $44.00, with their median price target at $35.00. Looking at these predictions, the average price target given by analysts is for Fox Corporation (FOXA) stock is $35.55.
