As of Wednesday close, Fox Corporation’s (NASDAQ:FOXA) stock was down -$0.94, moving down -2.93 percent to $31.15. The average number of shares traded per day over the past five days has been 4,399,060 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.23 fall in that time frame. In the last twenty days, the average volume was 4,074,865, while in the previous 50 days, it was 4,177,324.
Since last month, FOXA stock retreated -6.17%. Shares of the company fell to $30.81 on 09/07/23, 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 2.57% or $0.78, and marked a new high 17 times. However, the stock has declined by -16.40% since its 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
FOXA stock investors should be aware that Fox Corporation (FOXA) stock had its last reported insider trading activity 6 days ago on Sep 15. MURDOCH KEITH RUPERT, the Chair of the company, disposed of 100,000 shares for $31.90 on Sep 15. It resulted in a $3,190,000 divestment by the insider. DINH VIET D sold 231,865 shares at an average price of $33.40 on Aug 17. The insider now owns 56,161 shares following the transaction. On Aug 15, Executive Chair, CEO MURDOCH LACHLAN K bought 141,367 shares at $33.84 apiece. The transaction was valued at $4,783,859.
Valuation Metrics
Right now, Fox Corporation (FOXA) has a P/E ratio of about 13.50. The stock’s beta is 0.87. Besides these, the trailing price-to-sales (P/S) ratio of 0.99, the price-to-book (PB) ratio of 1.52, and the price-to-cash flow ratio of 10.21 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. On Wednesday August 2 2023, a $0.01 dividend increase was announced.
Financial Health
In the three months ended June 29, Fox Corporation’s quick ratio stood at 1.80, while its current ratio was 1.90, 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 0.57, and the total debt-to-equity ratio was 0.69. On the profitability front, the trailing twelve-month gross margin is 35.00% percent. In the year ended June 29, operating margins totaled 10.60%. 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 6.30%. Return on equity (ROE) for the past 12 months was 11.30%.
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 26.48%, the RSI 9-day stood at 39.17% on 20 September.
With respect to its five-day moving average, the current Fox Corporation price is down by -0.73% percent or -$0.23. At present, FOXA shares trade -5.20% below its 20-day simple moving average and -5.20% percent below its 100-day simple moving average. However, the stock is currently trading approximately -7.65% below its SMA50 and -2.96% below its SMA200.
Stochastic coefficient K was 31.53% and Stochastic coefficient D was 37.15%, while ATR was 0.75. Given the Stochastic reading of 12.48% for the 14-day period, the RSI (14) reading has been calculated as 40.56%. As of today, the MACD Oscillator reading stands at -0.04, while the 14-day reading stands at 0.02.
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 13 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Fox Corporation stock as buy, with 7 recommending it as overweight.
With a median target price of $36.75, 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 $36.48.
