Fox Corporation (NASDAQ:FOXA) saw a downside of -0.45% to close Monday at $31.21 after subtracting -$0.14 on the day. The 5-day average trading volume is 4,028,440 shares of the company’s common stock. It has gained $32.40 in the past week and touched a new high 3 times within the past 5 days. An average of 4,230,800 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,148,828.
FOXA’s 1-month performance is -4.21% or -$1.22 on its low of $30.81 reached on 09/07/23. 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 2.77% or $0.84 and has reached a new high 17 times. However, the current price is down -16.24% from the 52-week high price.
Insider Transactions
FOXA stock investors last saw insider trading activity on Sep 15.MURDOCH KEITH RUPERT (Chair) most recently sold 100,000 shares at $31.90 per share on Sep 15. This transaction cost the insider $3,190,000. Chief Legal and Policy Officer, DINH VIET D, sold 231,865 shares at a price of $33.40 on Aug 17. Then, on Aug 15, Executive Chair, CEO MURDOCH LACHLAN K sold 141,367 shares at a price of $33.84 per share. This transaction amounted to $4,783,859.
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 1.02 while the price-to-book (PB) in the most recent quarter is 1.50, with the price to cash flow ratio at 10.58.
Fox Corporation’s quick ratio for the period ended June 29 was 1.78, with the current ratio over the same period at 1.93. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.66, while the total debt to equity was 0.79. In terms of profitability, the gross margin trailing 12 months is 32.27%. The firm’s gross profit as reported stood at $5.22 billion against revenue of $14.91 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 18.4% to $375.0 million, while revenue of -$54.0 million was 114.4% off the previous quarter. Analysts expected FOXA to announce $0.72 per share in earnings in its latest quarter, but it posted $0.88, representing a 22.20% surprise. EBITDA for the quarter stood at more than $735.0 million. FOXA stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 11.42 billion, with total debt at $8.21 billion. Shareholders hold equity totaling $489.26 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 25 September was 42.35% to suggest the stock is trending Neutral, with historical volatility in this time period at 31.16%.
The stock’s 5-day moving average is $31.59, reflecting a -1.82% or -$0.58 change from its current price. FOXA is currently trading -3.76% above its 20-day SMA, -5.60% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -5.97% and SMA200 by+0.68%.
Stochastic %K and %D was 37.93% and 37.22% and the average true range (ATR) pointed at 0.79. The RSI (14) points at 42.84%, while the 14-day stochastic is at 23.28% with the period’s ATR at 0.77. The stock’s 9-day MACD Oscillator is pointing at -0.10 and -0.03 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 13 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 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 $36.75. Looking at these predictions, the average price target given by analysts is for Fox Corporation (FOXA) stock is $36.48.
