Fox Corporation (NASDAQ: FOXA) stock fell -4.44% on Friday to $32.72 against a previous-day closing price of $34.24. With 2.12 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.19 million shares. During the session, the Broadcasting company that operates in wider Communication Services sector, reached to the highest price of $34.37 whereas the lowest price it dropped to was $32.71. The 52-week range on FOXA shows that it touched its highest point at $44.95 and its lowest point at $31.33 during that stretch. It currently has a 1-year price target of $41.66. With its current market cap of 17.85 billion, FOXA has annualized dividend of $0.50 while the current yield stands at 1.53%. Beta for the stock currently stands at 0.87.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FOXA was down-trending over the past week, with a drop of -2.39%, but this was down by -5.71% over a month. Three-month performance surged to 2.06% while six-month performance fell -20.39%. The stock lost -11.88% in the past year, while it has lost -11.33% so far this year. A look at the trailing 12-month EPS for FOXA yields 2.11 with Next year EPS estimates of 3.33. For the next quarter, that number is 1.19. This implies an EPS growth rate of -41.50% for this year and -6.42% for next year. EPS is expected to grow by 9.04% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -0.90%.
Float and Shares Shorts:
At present, 557.04 million FOXA shares are outstanding with a float of 438.98 million shares on hand for trading. On Jul 14, 2022, short shares totaled 9.28 million, which was 1.67% higher than short shares on Jun 14, 2022. In addition to Mr. Keith Rupert Murdoch AC as the firm’s Exec. Chairman, Mr. Lachlan Keith Murdoch serves as its Exec. Chairman & CEO.
Through their ownership of 104.27% of FOXA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 60.87% of FOXA, in contrast to 42.94% held by mutual funds. Shares owned by individuals account for 1.63%. As the largest shareholder in FOXA with 15.16% of the stake, Dodge & Cox holds 46,473,345 shares worth 46,473,345. A second-largest stockholder of FOXA, The Vanguard Group, Inc., holds 32,338,647 shares, controlling over 10.55% of the firm’s shares. Independent Franchise Partners LL is the third largest shareholder in FOXA, holding 19,945,516 shares or 6.51% stake. With a 9.77% stake in FOXA, the Dodge & Cox Stock Fund is the largest stakeholder. A total of 29,951,475 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.88% of FOXA stock, is the second-largest Mutual Fund holder. It holds 8,838,408 shares valued at 302.1 million. Vanguard Mid Cap Index Fund holds 2.24% of the stake in FOXA, owning 6,850,753 shares worth 234.16 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FOXA since 25 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 11 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With FOXA analysts setting a high price target of $50.00 and a low target of $30.00, the average target price over the next 12 months is $41.83. Based on these targets, FOXA could surge 52.81% to reach the target high and fall by -8.31% to reach the target low. Reaching the average price target will result in a growth of 27.84% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. FOXA will report FY 2023 earnings on 08/02/2023. Analysts have provided yearly estimates in a range of $3.98 being high and $3.28 being low. For FOXA, this leads to a yearly average estimate of $3.55. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Fox Corporation surprised analysts by -$0.01 when it reported $0.74 EPS against a consensus estimate of $0.75. The surprise factor in the prior quarter was -$0.05. Based on analyst estimates, the high estimate for the next quarter is $1.30 and the low estimate is $0.97. The average estimate for the next quarter is thus $1.18.
Dividends & Yield:
In terms of dividends, FOXA has a current ratio of $0.5, which is $0.5 over the trailing 12-months. Dividend yield is another indicator that appeals to many investors, and FOXA currently yields $1.5. In the past year, FOXA’s dividend yield has been $1.5. Accordingly, FOXA has a current buyback yield of $5.77. This was $5.77 for the TTM.
Summary of Insider Activity:
Insiders traded FOXA stock several times over the past three months with 21 Buys and 21 Sells. In these transactions, 714,488 shares were bought while 388,705 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 714,488 while 2,088,705 shares were sold.