Analysts Anticipate Fox Corp (NASDAQ:FOXA) Will Announce Earnings of $0.66 Per Share

Equities research analysts expect Fox Corp (NASDAQ:FOXA) to report earnings of $0.66 per share for the current quarter, according to Zacks. Two analysts have made estimates for FOX’s earnings. The lowest EPS estimate is $0.64 and the highest is $0.70. The company is scheduled to report its next quarterly earnings results on Wednesday, November 6th.

On average, 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 financial year, analysts expect that the firm will post earnings of $2.91 per share, with EPS estimates ranging from $2.50 to $3.45. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover FOX.

FOX (NASDAQ:FOXA) last announced its earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year.

FOXA has been the subject of several research analyst reports. Credit Suisse Group dropped their target price on shares of FOX from $51.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Guggenheim lowered shares of FOX from a “buy” rating to a “neutral” rating and dropped their target price for the company from $43.00 to $38.00 in a research report on Monday, July 1st. Gabelli initiated coverage on shares of FOX in a research report on Wednesday, May 15th. They set a “buy” rating and a $57.00 target price for the company. Barclays reiterated a “hold” rating and set a $38.00 target price on shares of FOX in a research report on Friday, July 12th. Finally, BidaskClub upgraded shares of FOX from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $45.25.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV purchased a new stake in FOX during the first quarter worth about $397,000. Geode Capital Management LLC increased its holdings in FOX by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 13,669,016 shares of the company’s stock worth $656,632,000 after buying an additional 860,913 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in FOX by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,594,654 shares of the company’s stock worth $221,095,000 after buying an additional 15,713 shares during the last quarter. 55.61% of the stock is currently owned by institutional investors.

FOX stock traded up $0.91 during mid-day trading on Wednesday, hitting $33.90. 156,725 shares of the company traded hands, compared to its average volume of 4,689,429. FOX has a one year low of $32.67 and a one year high of $41.95. The stock has a market cap of $20.32 billion and a price-to-earnings ratio of 12.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.12 and a current ratio of 3.78. The stock has a fifty day moving average price of $36.27 and a 200-day moving average price of $40.00.

The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 4th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. FOX’s payout ratio is 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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