Brokerages Expect Fox Corp (NASDAQ:FOXA) to Post $0.60 Earnings Per Share

Equities analysts expect Fox Corp (NASDAQ:FOXA) to announce earnings of $0.60 per share for the current quarter, Zacks reports. Two analysts have provided estimates for FOX’s earnings. The highest EPS estimate is $0.63 and the lowest is $0.58. The business is scheduled to announce its next quarterly earnings report on Wednesday, August 14th.

On average, analysts expect that FOX will report full-year earnings of $2.53 per share for the current fiscal year, with EPS estimates ranging from $1.89 to $3.15. For the next fiscal year, analysts forecast that the business will report earnings of $2.75 per share, with EPS estimates ranging from $2.31 to $3.40. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that cover FOX.

FOX (NASDAQ:FOXA) last issued its earnings results on Wednesday, May 8th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.12. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.61 billion. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 EPS.

Several research firms have recently weighed in on FOXA. Rosenblatt Securities began coverage on shares of FOX in a report on Monday, May 6th. They set a “sell” rating and a $33.00 price objective for the company. Moffett Nathanson began coverage on shares of FOX in a report on Friday, March 15th. They set a “buy” rating and a $51.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of FOX in a report on Monday, March 25th. They set an “overweight” rating and a $46.00 price objective for the company. BMO Capital Markets began coverage on shares of FOX in a report on Wednesday, April 10th. They set a “market perform” rating and a $37.00 price objective for the company. Finally, Gabelli began coverage on shares of FOX in a report on Wednesday, May 15th. They set a “buy” rating and a $57.00 price objective for the company. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. FOX has an average rating of “Hold” and an average target price of $46.73.

Shares of NASDAQ FOXA traded down $0.05 during midday trading on Friday, hitting $35.24. The stock had a trading volume of 4,332,264 shares, compared to its average volume of 6,443,476. FOX has a 52 week low of $33.78 and a 52 week high of $41.95. The company has a current ratio of 4.60, a quick ratio of 3.77 and a debt-to-equity ratio of 0.78.

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a dividend of $0.23 per share. This is a boost from FOX’s previous Semi-Annual dividend of $0.18. The ex-dividend date was Friday, May 17th.

Hedge funds have recently made changes to their positions in the business. Aravt Global LLC purchased a new stake in FOX during the fourth quarter valued at approximately $147,969,000. Pearl River Capital LLC purchased a new stake in shares of FOX in the fourth quarter worth $126,000. Hudson Bay Capital Management LP increased its stake in shares of FOX by 56.4% in the fourth quarter. Hudson Bay Capital Management LP now owns 675,305 shares of the company’s stock worth $28,158,000 after purchasing an additional 243,593 shares in the last quarter. Quad Capital Management Advisors LLC increased its stake in shares of FOX by 3.6% in the fourth quarter. Quad Capital Management Advisors LLC now owns 365,777 shares of the company’s stock worth $17,601,000 after purchasing an additional 12,627 shares in the last quarter. Finally, Spectrum Management Group Inc. purchased a new stake in shares of FOX in the fourth quarter worth $406,000. 51.23% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

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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