Fox Co. (NASDAQ:FOXA) Expected to Post Quarterly Sales of $3.05 Billion

Wall Street analysts expect Fox Co. (NASDAQ:FOXAGet Rating) to post sales of $3.05 billion for the current fiscal quarter, Zacks reports. Eleven analysts have issued estimates for FOX’s earnings, with the lowest sales estimate coming in at $3.00 billion and the highest estimate coming in at $3.10 billion. FOX reported sales of $2.89 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.5%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that FOX will report full-year sales of $13.95 billion for the current year, with estimates ranging from $13.87 billion to $14.04 billion. For the next year, analysts forecast that the business will post sales of $15.03 billion, with estimates ranging from $14.70 billion to $15.38 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover FOX.

FOX (NASDAQ:FOXAGet Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). FOX had a net margin of 8.33% and a return on equity of 13.84%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the firm posted $0.88 EPS. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year.

Several research firms have recently weighed in on FOXA. Morgan Stanley raised their price target on shares of FOX from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 10th. The Goldman Sachs Group raised their price target on shares of FOX from $33.00 to $36.00 and gave the stock a “sell” rating in a research note on Thursday, February 10th. Credit Suisse Group raised their price target on shares of FOX from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, February 10th. Rosenblatt Securities began coverage on shares of FOX in a research note on Tuesday, April 19th. They issued a “neutral” rating and a $38.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of FOX from $48.00 to $46.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $45.40.

Shares of FOXA opened at $33.30 on Thursday. FOX has a fifty-two week low of $31.35 and a fifty-two week high of $44.95. The company has a 50 day moving average price of $37.40 and a 200-day moving average price of $38.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.36 and a current ratio of 3.73. The stock has a market capitalization of $18.74 billion, a PE ratio of 16.73, a PEG ratio of 1.25 and a beta of 0.93.

Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in FOX by 1.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 236,268 shares of the company’s stock valued at $9,321,000 after purchasing an additional 3,230 shares during the last quarter. Walleye Capital LLC increased its stake in FOX by 63.0% in the 1st quarter. Walleye Capital LLC now owns 13,057 shares of the company’s stock valued at $515,000 after buying an additional 5,045 shares during the period. Wealthfront Advisers LLC increased its stake in FOX by 15.7% in the 1st quarter. Wealthfront Advisers LLC now owns 8,374 shares of the company’s stock valued at $330,000 after buying an additional 1,134 shares during the period. Weiss Multi Strategy Advisers LLC increased its stake in FOX by 152.1% in the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 58,986 shares of the company’s stock valued at $2,327,000 after buying an additional 35,591 shares during the period. Finally, Mirabella Financial Services LLP acquired a new position in FOX in the 1st quarter valued at $325,000. Institutional investors and hedge funds own 56.94% of the company’s stock.

About FOX (Get Rating)

Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through three segments: Cable Network Programming; Television; and Other, Corporate and Eliminations. 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 multi-channel video programming distributors.

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Earnings History and Estimates for FOX (NASDAQ:FOXA)

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