Brokers Offer Predictions for Fox Co.’s FY2024 Earnings (NASDAQ:FOXA)

Fox Co. (NASDAQ:FOXA – Get Rating) – Analysts at KeyCorp lifted their FY2024 earnings per share estimates for FOX in a report issued on Tuesday, January 17th. KeyCorp analyst B. Nispel now forecasts that the company will earn $3.26 per share for the year, up from their previous forecast of $3.09. The consensus estimate for FOX’s current full-year earnings is $3.55 per share.

FOX (NASDAQ:FOXA – Get Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.06. FOX had a return on equity of 14.24% and a net margin of 7.85%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.20 billion.

A number of other analysts have also recently issued reports on FOXA. Loop Capital cut FOX from a “buy” rating to a “hold” rating and cut their price objective for the company from $50.00 to $34.00 in a research report on Monday, October 17th. Macquarie lowered their price objective on FOX from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 4th. Deutsche Bank Aktiengesellschaft decreased their price target on FOX from $46.00 to $42.00 in a research note on Wednesday, November 2nd. UBS Group decreased their price target on FOX from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, January 9th. Finally, Guggenheim cut their price objective on FOX from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, January 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, FOX has a consensus rating of “Hold” and an average price target of $37.13.

FOX Stock Up 0.8 %

FOXA stock opened at $31.56 on Thursday. The business has a 50-day moving average of $31.14 and a 200-day moving average of $32.11. FOX has a fifty-two week low of $28.01 and a fifty-two week high of $44.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.60 and a quick ratio of 3.16. The stock has a market capitalization of $17.13 billion, a P/E ratio of 15.78, a P/E/G ratio of 0.92 and a beta of 0.85.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FOXA. Eagle Bay Advisors LLC increased its stake in FOX by 104.1% in the third quarter. Eagle Bay Advisors LLC now owns 890 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares during the last quarter. Atticus Wealth Management LLC boosted its position in FOX by 3,274.1% during the second quarter. Atticus Wealth Management LLC now owns 911 shares of the company’s stock valued at $29,000 after buying an additional 884 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in FOX by 226.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,022 shares of the company’s stock valued at $32,000 after buying an additional 709 shares during the period. CX Institutional purchased a new stake in FOX during the second quarter valued at about $33,000. Finally, Private Trust Co. NA purchased a new stake in FOX during the second quarter valued at about $40,000. Institutional investors own 55.65% of the company’s stock.

About FOX

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Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional and virtual multi-channel video programming distributors (MVPDs) and other digital platforms, primarily in the U.S.