Fox Corp (NASDAQ:FOXA) Expected to Post Earnings of $0.66 Per Share

Analysts forecast that Fox Corp (NASDAQ:FOXA) will announce earnings of $0.66 per share for the current quarter, Zacks reports. Two analysts have issued estimates for FOX’s earnings, with the lowest EPS estimate coming in at $0.64 and the highest estimate coming in at $0.70. The business is scheduled to report its next quarterly earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that FOX will report full year earnings of $2.35 per share for the current fiscal year, with EPS estimates ranging from $2.14 to $2.90. For the next fiscal year, analysts forecast that the business will post earnings of $2.91 per share, with EPS estimates ranging from $2.50 to $3.45. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for FOX.

FOX (NASDAQ:FOXA) last released its earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the business earned $0.57 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year.

A number of research analysts have weighed in on FOXA shares. Atlantic Securities lowered shares of FOX from an “overweight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research note on Tuesday. Evercore ISI reissued a “buy” rating and issued a $45.00 target price on shares of FOX in a research note on Thursday, August 8th. BidaskClub lowered shares of FOX from a “hold” rating to a “sell” rating in a research note on Saturday, August 24th. Barclays restated a “hold” rating and set a $38.00 price target on shares of FOX in a report on Friday, July 12th. Finally, Zacks Investment Research upgraded shares of FOX from a “sell” rating to a “hold” rating in a report on Tuesday, August 27th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. FOX presently has a consensus rating of “Hold” and an average price target of $43.15.

A hedge fund recently raised its stake in FOX stock. Geode Capital Management LLC boosted its stake in Fox Corp (NASDAQ:FOXA) by 6.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,669,016 shares of the company’s stock after purchasing an additional 860,913 shares during the period. Geode Capital Management LLC owned about 0.74% of FOX worth $656,632,000 at the end of the most recent quarter. 54.66% of the stock is owned by institutional investors.

FOXA traded up $0.04 during trading on Friday, reaching $33.83. The company’s stock had a trading volume of 3,060,707 shares, compared to its average volume of 5,398,620. The company has a quick ratio of 3.12, a current ratio of 3.78 and a debt-to-equity ratio of 0.68. The firm has a fifty day simple moving average of $34.52 and a two-hundred day simple moving average of $37.89. FOX has a 1 year low of $31.58 and a 1 year high of $41.95. The company has a market cap of $21.29 billion and a price-to-earnings ratio of 12.86.

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 4th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, September 3rd. FOX’s dividend payout ratio (DPR) is presently 17.49%.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States. 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 primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.

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Earnings History and Estimates for FOX (NASDAQ:FOXA)

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