Analysts Anticipate Fox Corp (NASDAQ:FOXA) Will Announce Quarterly Sales of $2.56 Billion

Equities analysts predict that Fox Corp (NASDAQ:FOXA) will report $2.56 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for FOX’s earnings, with estimates ranging from $2.55 billion to $2.57 billion. The company is scheduled to announce its next earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that FOX will report full year sales of $12.20 billion for the current year, with estimates ranging from $12.07 billion to $12.27 billion. For the next financial year, analysts anticipate that the firm will report sales of $12.62 billion, with estimates ranging from $12.48 billion to $12.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow FOX.

FOX (NASDAQ:FOXA) last issued its earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share 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 analysts’ expectations of $2.47 billion. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share.

FOXA has been the subject of several analyst reports. Atlantic Securities cut FOX from an “overweight” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Tuesday. Goldman Sachs Group initiated coverage on FOX in a report on Wednesday, June 26th. They set a “buy” rating and a $46.00 target price for the company. Guggenheim cut 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 report on Monday, July 1st. Citigroup dropped their target price on FOX from $40.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, BidaskClub cut FOX from a “hold” rating to a “sell” rating in a report on Saturday, August 24th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $43.15.

A hedge fund recently raised its stake in FOX stock. Geode Capital Management LLC lifted its position in Fox Corp (NASDAQ:FOXA) by 6.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,669,016 shares of the company’s stock after acquiring an additional 860,913 shares during the period. Geode Capital Management LLC owned 0.74% of FOX worth $656,632,000 as of its most recent SEC filing. Institutional investors own 54.66% of the company’s stock.

FOXA stock traded up $0.04 during trading on Friday, hitting $33.83. 3,060,707 shares of the company traded hands, compared to its average volume of 5,398,620. The firm has a market capitalization of $21.29 billion and a PE ratio of 12.86. FOX has a 1 year low of $31.58 and a 1 year high of $41.95. The company has a 50-day moving average of $34.52 and a 200-day moving average of $37.89. 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 company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 4th will be given a $0.23 dividend. The ex-dividend date is Tuesday, September 3rd. FOX’s dividend payout ratio is currently 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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