Fox Corporation (NASDAQ:FOXA) does about 2.61M shares in volume on a normal day but saw 1770963 shares change hands in Monday trading. The company now has a market cap of 17.12B USD. Its current market price is $32.67, marking an increase of 3.52% compared to the previous close of $31.56. The 52 week high reached by this stock is $44.95 whilst the lowest price level in 52 weeks is $28.01. The script in recent trading has seen the stock touch a high of $32.745 and a low of $31.60.
Fox Corporation (FOXA) has a 20-day trading average at $31.28 and the current price is -27.32% off the 52-week high compared with 16.62% distance from its 52-week low. The 50-day simple moving average of the closing price is $31.07 and its 200-day simple moving average is $32.98. If we look at the stock’s price movements over the week, volatility stands at 2.27%, which decreases to 2.14% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 61.34 to suggest the stock is neutral.
The consensus objective for the share price is $36.83, suggesting that the stock has a potential upside of 11.3% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 03, 2023 when Wolfe Research downgraded the stock to “Underperform” and issued a price target of $28. Loop Capital also downgraded the stock to “Hold” from Buy on October 17, 2022 at a price target of $50-$34. Credit Suisse downgraded its price target at $41-$36.
The current price level is 4.83%, 5.38%, and -1.03% away from its SMA20, SMA50, and SMA200 respectively, with the FOXA price moving above the 50-day SMA on January 23. Fox Corporation (FOXA) stock is up 1.05% over the week and 9.08% over the past month. Its price is 7.57% year-to-date and -14.45% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $1.21 above consensus estimates by $0.07. The company’s next earnings report is expected on 05/09/2023, with forecasts estimating quarterly EPS at $0.5 and $3.48 for whole year. FOXA’s earnings per share are forecast to grow by 24.70% this year and -10.10% over next year. Expected sales for next quarter are $4.06 billion, which analysts say will come at $14.94 billion for the current fiscal year and next year at $14.64 billion. In addition, estimates put the company’s current quarterly revenue at an average of $4.59 billion.
To reach the target analysts have set, the stock logically needs to grow 11.3 percent from here.
Outstanding shares total 550.00M with insiders holding 1.65% of the shares and institutional holders owning 103.65% of the company’s common stock. The company has a return on investment of 10.60% and return on equity of 9.80%. The price to earnings ratio (P/E ratio) amounts to 16.41 while the forward price to earnings ratio is 10.45. The beta has a value of 0.86. Price to book ratio is 1.56 and price to sales ratio is 1.21.
According to a U.S. Securities and Exchange Commission filing, Dodge & Cox Stock Fund has reduced its position in Fox Corporation (FOXA) to 27,659,475 shares, mirroring a recent drop by -4.98%. Dodge & Cox Stock Fund dumped -1.45 million shares of Fox Corporation common stock bringing its total worth to about $840.02 million at the end of recent close, SEC documents show. Dodge & Cox Stock Fund isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which added 47827.0 shares to end up with 8,897,748 shares worth $270.22 million. Vanguard Mid Cap Index Fund cut their holdings by -0.76% in the company over the course of the most recent quarter. It now holds a 2.32% position in Fox Corporation thanks to 7.03 million shares amounting to $213.37 million.