As of Wednesday close, Fox Corporation’s (NASDAQ:FOXA) stock was down -$0.42, moving down -1.23 percent to $33.59. The average number of shares traded per day over the past five days has been 4,042,800 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.06 fall in that time frame. In the last twenty days, the average volume was 4,473,890, while in the previous 50 days, it was 4,309,460.
Since last month, FOXA stock retreated -1.21%. Shares of the company fell to $32.72 on 08/03/23, the lowest level in the past month. A 52-week high of $37.26 was reached on 02/17/23 after having rallying from a 52-week low of $28.01. Since the beginning of this year, FOXA’s stock price has risen by 10.60% or $3.22, and marked a new high 17 times. However, the stock has declined by -9.85% since its 52-week high.
FOXA stock investors should be aware that Fox Corporation (FOXA) stock had its last reported insider trading activity 62 days ago on Jun 16. MURDOCH KEITH RUPERT, the Chair of the company, disposed of 100,000 shares for $33.62 on Jun 16. It resulted in a $3,362,000 divestment by the insider. DINH VIET D sold 72,207 shares at an average price of $35.91 on Feb 09. The insider now owns 49,384 shares following the transaction.
Valuation Metrics
Right now, Fox Corporation (FOXA) has a P/E ratio of about 14.54. The stock’s beta is 0.86. Besides these, the trailing price-to-sales (P/S) ratio of 1.10, the price-to-book (PB) ratio of 1.72, and the price-to-cash flow ratio of 8.45 may also be considered.
The latest dividend of $0.26 per share was paid out, which is 4.0% more than last year’s $0.25.
Financial Health
In the three months ended June 29, Fox Corporation’s quick ratio stood at 1.60, while its current ratio was 1.80, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.59, and the total debt-to-equity ratio was 0.71. On the profitability front, the trailing twelve-month gross margin is 35.00% percent. In the year ended June 29, operating margins totaled 17.50%. Based on annual data, FOXA earned $5.22 billion in gross profit and brought in $14.91 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 10.60%. Return on equity (ROE) for the past 12 months was 13.50%.
In Fox Corporation’s quarter-end financial report for June 29, it reported total debt of $5.96 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. FOXA’s revenue fell -2.12% to $4.08 billion during the quarter, while net income inched up to $3.16 billion. While analysts expected Fox Corporation to report $0.72 quarterly earnings, the actual figure was $0.88 per share, beating the consensus estimate by 22.20%. During the quarter, the company generated $735.0 million in EBITDA. The liabilities of Fox Corporation were 11.42 billion at the end of its most recent quarter ended June 29, and its total debt was $8.21 billion. The value of shareholders’ equity is $489.26 million.
Technical Picture
This quick technical analysis looks at Fox Corporation’s (FOXA) price momentum. With a historical volatility rate of 32.14%, the RSI 9-day stood at 46.17% on 16 August.
With respect to its five-day moving average, the current Fox Corporation price is down by -3.06% percent or -$1.06. At present, FOXA shares trade -0.39% below its 20-day simple moving average and -0.24% percent below its 100-day simple moving average. However, the stock is currently trading approximately +4.35% above its SMA50 and +19.24% above its SMA200.
Stochastic coefficient K was 40.83% and Stochastic coefficient D was 51.16%, while ATR was 0.76. Given the Stochastic reading of 32.53% for the 14-day period, the RSI (14) reading has been calculated as 48.80%. As of today, the MACD Oscillator reading stands at -0.21, while the 14-day reading stands at 0.06.
Analyst Ratings
Fox Corporation downgraded its rating on Fox Corporation (NASDAQ: FOXA) to an Underweight in a note to investors on July 10, 2023. The analysts firm previously had an Equal weight rating on the stock.Fox Corporation (FOXA) has been rated Hold by analysts. According to 3 brokerage firms, FOXA is a sell, and 14 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Fox Corporation stock as buy, with 7 recommending it as overweight.
With a median target price of $35.00, the current consensus forecast for the stock is $28.00 – $44.00. Based on these forecasts, analysts predict Fox Corporation (FOXA) will achieve an average price target of $36.12.
