The stock of Fox Corporation (NASDAQ:FOXA) decreased by -$0.54 on Friday to finish at $34.06, down -1.55 percent. The last five days have seen an average of 5,904,923 shares of common stock traded. 17 times new highs were reached in the current year, with a gain of $3.62. The average number of shares traded over the last 20 days was 4,299,286, while the average volume over the last 50 days totaled 4,221,428.
FOXA stock appreciated 2.64% since last month. On 08/03/23, the company’s shares reached a one-month low of $32.72. The stock touched a high of $37.26 on 02/17/23, after rallying from a low of $28.01 in 52 weeks. The price of FOXA stock has risen by 12.17% or $3.62 this year, reaching a new high 17 times. Still, the stock price is down -8.57% from the 52-week high.
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Insider Transactions
FOXA stock investors should be aware that Fox Corporation (FOXA) stock had its last reported insider trading activity 59 days ago on Jun 16. On Jun 16, Chair MURDOCH KEITH RUPERT sold 100,000 shares at $33.62 each. This transaction resulted in the insider making $3,362,000. On Feb 09, DINH VIET D sold 72,207 shares at a price of US$35.91. After the transaction, the insider now owns 49,384 shares. Executive Chair, CEO MURDOCH LACHLAN K had earlier bought 126,773 shares on Aug 15 for $36.50 a share. The transaction was completed for $4,627,214.
Valuation Metrics
Fox Corporation (FOXA) has a trailing price-to-earnings (P/E) ratio of 14.75. Beta for the stock is 0.86. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.11, the price-to-book (PB) ratio of 1.74, and the price-to-cash flow ratio of 8.57.
Company paid $0.26 per share in dividends, an increase of 4.0% from $0.25 last year.
Financial Health
For the three months ended June 29, Fox Corporation’s quick ratio was 1.60, while its current ratio was 1.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.59, and the total debt to equity ratio is 0.71. As far as profitability goes, gross margin for the trailing twelve months is 35.00% percent. Fox Corporation’s operating margin stood at 17.50% for the same period. Based on annual data, it had gross profit of $4.86 billion and revenue of $13.97 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. FOXA’s return on assets (ROA) during the last 12 months has been 6.70%. There was a 10.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 13.50%.
Earnings Surprise
According to Fox Corporation’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $4.08 billion, while revenues rose by 15.4% to $4.54 billion. It was predicted that Fox Corporation’s quarterly earnings would be $0.88, but it ended up being $0.72, beating the consensus by 22.20%. EBITDA was $833.0 million for the quarter. At the end of Fox Corporation’s most recent quarter ended June 29, its liabilities totaled 12.14 billion, while its total debt was $8.21 billion. Equity owned by shareholders amounts to $504.64 million.
Technical Picture
Here’s a quick look at Fox Corporation’s (FOXA) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 53.01%, suggesting the stock is Neutral, with a 31.06% historical volatility rate.
The stochastic %K and %D were 61.15% and 68.64% respectively, while the average true range (ATR) was 0.75. Based on the 14-day stochastic reading of 47.40%, the RSI (14) reading is 53.69%. On the 9-day MACD Oscillator, the stock is at 0.46, and the 14-day reading is at 0.70.
Analyst Ratings
Fox Corporation (NASDAQ: FOXA) was downgraded by Wells Fargo to a an Underweight rating in its latest research report. The stock was previously rated as a an Equal weight. Analysts have assigned Fox Corporation (FOXA) an Hold rating. FOXA is a stock that is recommended for selling by 3 brokerage firms, while 14 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 7 others recommend it as a buy.
What is FOXA’s price target for the next 12 months?
The current consensus forecast for the stock is between $28.00 and $44.00, with a median target price of $35.00. In analyzing these forecasts, the average price target given by analysts for Fox Corporation (FOXA) is $36.07.
