Zacks: Analysts Anticipate Fox Co. (NASDAQ:FOXA) Will Announce Earnings of $0.98 Per Share

Wall Street brokerages expect Fox Co. (NASDAQ:FOXA) to post earnings per share of $0.98 for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for FOX’s earnings, with estimates ranging from $0.82 to $1.13. FOX reported earnings of $1.18 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 16.9%. The company is scheduled to announce its next quarterly earnings report on Tuesday, November 2nd.

According to Zacks, analysts expect that FOX will report full-year earnings of $2.76 per share for the current fiscal year, with EPS estimates ranging from $2.56 to $2.91. For the next year, analysts forecast that the business will report earnings of $3.48 per share, with EPS estimates ranging from $3.16 to $4.31. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for FOX.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Wednesday, August 4th. The company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.09. FOX had a return on equity of 15.60% and a net margin of 16.66%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the business posted $0.62 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year.

A number of equities analysts recently commented on the company. Guggenheim upgraded FOX from a “neutral” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Thursday, August 5th. Wells Fargo & Company upgraded FOX from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $42.00 to $47.00 in a research report on Wednesday, June 9th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $39.27.

Shares of FOX stock opened at $39.26 on Friday. FOX has a one year low of $24.93 and a one year high of $44.80. The company has a market cap of $22.57 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.55 and a beta of 1.25. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.67 and a current ratio of 2.91. The business’s 50 day moving average price is $36.66 and its 200 day moving average price is $37.53.

The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 29th. Investors of record on Wednesday, September 1st will be given a $0.24 dividend. The ex-dividend date is Tuesday, August 31st. This is a boost from FOX’s previous Semi-Annual dividend of $0.23. This represents a dividend yield of 1.3%. FOX’s dividend payout ratio is 16.67%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dodge & Cox boosted its position in shares of FOX by 11.6% in the 2nd quarter. Dodge & Cox now owns 48,721,900 shares of the company’s stock valued at $1,809,044,000 after purchasing an additional 5,050,236 shares during the period. BlackRock Inc. boosted its position in shares of FOX by 2.4% in the 2nd quarter. BlackRock Inc. now owns 41,283,868 shares of the company’s stock valued at $1,532,868,000 after purchasing an additional 979,432 shares during the period. Vanguard Group Inc. boosted its position in shares of FOX by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 34,218,979 shares of the company’s stock valued at $1,270,551,000 after purchasing an additional 147,799 shares during the period. Ninety One UK Ltd boosted its position in shares of FOX by 2.8% in the 2nd quarter. Ninety One UK Ltd now owns 9,289,814 shares of the company’s stock valued at $344,931,000 after purchasing an additional 257,327 shares during the period. Finally, Geode Capital Management LLC raised its stake in FOX by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 6,510,100 shares of the company’s stock valued at $241,240,000 after acquiring an additional 62,941 shares during the last quarter. 53.36% of the stock is owned by hedge funds and other institutional investors.

About FOX

Fox Corp. delivers compelling news, sports and entertainment content. The company provides news under the brands FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. It operates through three segments: Cable Network Programming, Television, and Other, Corporate and Eliminations.

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Earnings History and Estimates for FOX (NASDAQ:FOXA)

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