Fox Corporation (NASDAQ:FOXA) finished Thursday with an addition of $0.22 to close at $31.14, an upside of 0.71 percent. An average of 3,081,440 shares of common stock have been traded in the last five days. There was a fall of -$1.00 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 4,137,895 shares traded, while the 50-day average volume stands at 4,105,052.
FOXA stock has decreased by -5.38% in the last month. The company shares reached their 1-month lowest point of $30.55 on 09/27/23. With the stock rallying to its 52-week high on 02/17/23, shares of the company touched a low of $28.01 and a high of $37.26 in 52 weeks. It has reached a new high 17 times so far this year and achieved 2.54% or $0.77 in price. In spite of this, the price is down -16.43% 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 14 days ago on Sep 15. In this transaction, the insider spent $3,190,000. Chief Legal and Policy Officer, DINH VIET D, disposed of 231,865 shares at a price of $33.40 on Aug 17. The insider now owns more than $7,744,098 worth of shares. Prior to that, Executive Chair, CEO MURDOCH LACHLAN K went on to Sale 141,367 shares at $33.84 each on Aug 15. An amount of $4,783,859 was transacted.
Valuation Metrics
Fox Corporation (FOXA) has a trailing price-to-earnings (P/E) ratio of 13.48. The stock’s beta is 0.87. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.02, the price-to-book (PB) ratio at 1.50, and the price-to-cash flow ratio at 10.56.
The company has a payout ratio of 21.43%. The company’s most recent quarterly dividend payment was $0.26 a share, representing a up of 4.0% from $0.25 last year. Its latest increase dividend $0.01 reported on Wednesday August 2 2023.
Financial Health
The quick ratio of Fox Corporation for the three months ended June 29 was 1.78, and the current ratio was 1.93, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.66 and a total debt to equity ratio of 0.79 for the quarter ending June 29. Its gross profit as reported stood at $5.22 billion compared to revenue of $14.91 billion.
Earnings Surprise
For the three-month period that ended June 29, Fox Corporation had $5.96 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $375.0 million in the quarter, while revenues were grew 18.4%. The analyst consensus anticipated Fox Corporation’s latest quarter earnings to come in at $0.72 per share, but it turned out to be $0.88, a 22.20% surprise. For the quarter, EBITDA amounted to $735.0 million. Shareholders own equity worth $489.26 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Fox Corporation (FOXA) price momentum. RSI 9-day as of the close on 28 September was 43.13%, suggesting the stock is Neutral, with historical volatility in this time frame at 27.20%.
As of today, FOXA’s price is $31.11 -3.11% or -$1.00 from its 5-day moving average. FOXA is currently trading -6.77% lower than its 20-day SMA and -2.60% lower than its 100-day SMA. However, the stock’s current price level is -7.65% below the SMA50 and -0.54% below the SMA200.
The stochastic %K and %D were 18.82% and 18.84%, respectively, and the average true range (ATR) was 0.74. With the 14-day stochastic at 29.57% and the average true range at 0.74, the RSI (14) stands at 43.15%. The stock has reached -0.41 on the 9-day MACD Oscillator while the 14-day reading was at -0.56.
Analyst Ratings
Wells Fargo downgraded Fox Corporation (NASDAQ: FOXA) to a an Underweight rating in its most recent analyst report. Previously, the stock was rated as an Equal weight. The consensus rating for Fox Corporation (FOXA) among analysts is Hold. According to current brokerage recommendations, 3 brokerage firms advise that investors sell FOXA, while 13 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 7 others rate it as a “buy”.
What is FOXA’s price target for the next 12 months?
Analysts predict a range of price targets between $28.00 and $44.00, with a median target of $35.50. Taking a look at these predictions, the average price target given by analysts for Fox Corporation (FOXA) stock is $36.28.
