Fox Corporation (NASDAQ: FOXA) stock jumped 0.13% on Thursday to $31.07 against a previous-day closing price of $31.03. With 3.71 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.49 million shares. During the session, the Entertainment company that operates in wider Communication Services sector, reached to the highest price of $31.39 whereas the lowest price it dropped to was $30.80. The 52-week range on FOXA shows that it touched its highest point at $37.26 and its lowest point at $28.01 during that stretch. It currently has a 1-year price target of $36.15. With its current market cap of 15.00 billion, FOXA has annualized dividend of $0.50 while the current yield stands at 1.61%. Beta for the stock currently stands at 0.87.
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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 -0.06%, but this was down by -4.31% over a month. Three-month performance dropped to -13.43% while six-month performance rose 0.55%. The stock lost -4.37% in the past year, while it has gained 2.30% so far this year. A look at the trailing 12-month EPS for FOXA yields 2.11 with Next year EPS estimates of 3.12. For the next quarter, that number is 0.71. This implies an EPS growth rate of -41.50% for this year and -4.61% for next year. EPS is expected to grow by 10.15% 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, 521.00 million FOXA shares are outstanding with a float of 404.39 million shares on hand for trading. On May 14, 2023, short shares totaled 19.79 million, which was 3.92% higher than short shares on Apr 13, 2023. In addition to Mr. Keith Rupert Murdoch AC as the firm’s Exec. Chairman, Mr. Lachlan Keith Murdoch serves as its Exec. Chairman & CEO.
Institutional Ownership:
Through their ownership of 103.20% of FOXA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.60% of FOXA, in contrast to 41.79% held by mutual funds. Shares owned by individuals account for 1.68%. As the largest shareholder in FOXA with 13.49% of the stake, Dodge & Cox holds 40,057,178 shares worth 40,057,178. A second-largest stockholder of FOXA, The Vanguard Group, Inc., holds 32,288,419 shares, controlling over 10.88% of the firm’s shares. Independent Franchise Partners LL is the third largest shareholder in FOXA, holding 18,957,623 shares or 6.39% stake. With a 9.32% stake in FOXA, the Dodge & Cox Stock Fund is the largest stakeholder. A total of 27,659,475 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.02% of FOXA stock, is the second-largest Mutual Fund holder. It holds 8,958,162 shares valued at 297.95 million. Vanguard 500 Index Fund holds 2.33% of the stake in FOXA, owning 6,908,705 shares worth 229.78 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, FOXA reported revenue of $3.03B and operating income of $667.00M. The EBITDA in the recently reported quarter was $632.00M and diluted EPS was $0.55.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FOXA since 0 analysts follow the stock currently. 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 $44.00 and a low target of $28.00, the average target price over the next 12 months is $36.00. Based on these targets, FOXA could surge 41.62% to reach the target high and fall by -9.88% to reach the target low. Reaching the average price target will result in a growth of 15.87% 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.
Dividends & Yield:
In terms of dividends, FOXA has a current ratio of $0.5, which is $0.5 over the trailing 12-months, while a dividend of $0.45 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and FOXA currently yields $1.61. In the past year, FOXA’s dividend yield has been $1.61, but when looking at the stock over the past five years, its yield has been $1.37. Accordingly, FOXA has a current buyback yield of $13.19. This was $13.19 for the TTM.
Summary of Insider Activity:
Insiders traded FOXA stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 48,437 shares were bought while 0 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 762,925 while 460,912 shares were sold.
