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Where Do Analysts See Fox Corporation (NASDAQ: FOXA) Heading?

The trading price of Fox Corporation (NASDAQ:FOXA) floating lower at last check on Wednesday, May 24, closing at $31.09, -0.83% lower than its previous close.

Traders who pay close attention to intraday price movement should know that it has been fluctuating between $31.32 and $31.82. The company’s P/E ratio in the trailing 12-month period was 14.84, while its 5Y monthly beta was 0.86. In examining the 52-week price action we see that the stock hit a 52-week high of $37.26 and a 52-week low of $28.01. Over the past month, the stock has lost -4.16% in value.

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Fox Corporation, whose market valuation is $15.13 billion at the time of this writing, is expected to release its quarterly earnings report Aug 08, 2023 – Aug 14, 2023. The dividend yield on the company stock is 1.59%, while its Forward Dividend ratio is 0.50. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.71 per share this quarter, however they have predicted annual earnings per share of $3.3 for 2023 and $3.15 for 2024. It means analysts are expecting annual earnings per share growth of 18.30% this year and -4.50% next year.

Analysts have forecast the company to bring in revenue of $3.03 billion for the current quarter, with the likely lows of $3.01 billion and highs of $3.08 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $14.91 billion. The company’s revenue is forecast to grow by 6.70% over what it did in 2023.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Fox Corporation 1 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest FOXA has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently 50% Sell.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned FOXA a recommendation rating is 25. Out of them, 15 rate it a Hold, while 7 recommend Buy, whereas 1 assign an Overweight rating. 0 analyst(s) have tagged Fox Corporation (FOXA) as Underweight, while 2 advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 1.46, which symbolizes a positive outlook. A quick review shows that FOXA’s price is currently -2.11% off the SMA20 and -5.18% off the SMA50. The RSI metric on the 14-day chart is currently showing 41.01, and weekly volatility stands at 2.04%. When measured over the past 30 days, the indicator reaches 2.43%. Fox Corporation (NASDAQ:FOXA)’s beta value is currently sitting at 0.87, while the Average True Range indicator is currently displaying 0.76. With analysts defining $28.00-$44.00 as the low and high price targets, we arrive at a consensus price target of $36.00 for the trailing 12-month period. The current price is about 9.94% off the estimated low and -41.52% off the forecast high, based on this estimate. Investors will be thrilled if FOXA’s share price rises to $35.00, which is the median consensus price. At that level, FOXA’s share price would be -12.58% below current price.

To see how Fox Corporation stock has been performing today in comparison to its peers in the industry, here are the numbers: FOXA stock’s performance was -0.83% at last check in today’s session, and -9.06% in the past year, while Apple Inc. (AAPL) has been trading -0.29% in recent session and positioned 19.53% higher than it was a year ago. Another comparable company Amazon.com Inc. (AMZN) saw its stock trading 0.65% higher in today’s session but was up 7.61% in a year. Furthermore, Netflix Inc. (NFLX) showed an increase of 1.70% today while its price kept inclining at 93.15% over the past year. Fox Corporation has a P/E ratio of 14.84, compared to Apple Inc.’s 29.15 and Amazon.com Inc.’s 279.10. Also during today’s trading, the S&P 500 Index has plunged -0.83%, while the Dow Jones Industrial also saw a negative session, down -0.71% today.

An evaluation of the daily trading volume of Fox Corporation (NASDAQ:FOXA) indicates that the 3-month average is 3.48 million.

Currently, records show that 521.00 million of the company’s shares remain outstanding. The insiders hold 0.20% of outstanding shares, whereas institutions hold 103.20%. However, since the stock’s price has seen 2.37% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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