Zacks: Analysts Predict Fox Co. (NASDAQ: FOXA) to Report 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 released FOX earnings estimates, with estimates ranging from $ 0.82 to $ 1.13. FOX reported earnings of $ 1.18 per share for the same quarter last year, which would indicate a negative growth rate of 16.9% year-on-year. The company is expected to announce its next quarterly earnings report on Tuesday, November 2.
According to Zacks, analysts expect FOX to report annual earnings of $ 2.76 per share for the current fiscal year, with EPS estimates ranging from $ 2.56 to $ 2.91. For next year, analysts predict the company will post 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 an average based on a survey of seller-side research companies that provide coverage for FOX.
FOX (NASDAQ: FOXA) last reported its quarterly results on Wednesday, August 4. The company reported $ 0.65 of EPS for the quarter, beating 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 company posted revenue of $ 2.89 billion for the quarter, compared to a consensus estimate of $ 2.75 billion. In the same quarter of last year, the company posted earnings per share of $ 0.62. The company’s revenue increased 19.5% compared to the same quarter last year.
A number of equity analysts recently commented on the company. Guggenheim downgraded FOX from a “neutral” rating to a “buy” rating and set a price target of $ 41.00 for the stock in a research report on Thursday, August 5. Wells Fargo & Company Downgraded FOX From ‘Equal Weight’ To ‘Overweight’ Rating And Raised Its Share Price Target From $ 42.00 To $ 47.00 In Research Report published on Wednesday June 9. Seven research analysts rated the stock with a conservation rating and seven issued a buy rating for the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $ 39.27.
FOX shares 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 company’s 50-day average mobile price is $ 36.66 and its 200-day average mobile price is $ 37.53.
The company also recently announced a semi-annual dividend, which will be paid on Wednesday, September 29. Investors of record on Wednesday, September 1 will receive a dividend of $ 0.24. The ex-dividend date is Tuesday August 31. 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 changed their positions in the title. Dodge & Cox strengthened its position in FOX shares by 11.6% in the 2nd quarter. Dodge & Cox now owns 48,721,900 shares of the company valued at $ 1,809,044,000 after purchasing an additional 5,050,236 shares during the period. BlackRock Inc. strengthened its position in FOX shares by 2.4% in the 2nd quarter. BlackRock Inc. now owns 41,283,868 shares of the company valued at $ 1,532,868,000 after purchasing an additional 979,432 shares during the period. Vanguard Group Inc. strengthened its position in FOX shares by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 34,218,979 shares of the company valued at $ 1,270,551,000 after purchasing an additional 147,799 shares during the period. Ninety One UK Ltd strengthened its position in FOX shares by 2.8% in the 2nd quarter. Ninety One UK Ltd now owns 9,289,814 shares of the company valued at $ 344,931,000 after purchasing an additional 257,327 shares during the period. Finally, Geode Capital Management LLC increased its stake in FOX by 1.0% during the second quarter. Geode Capital Management LLC now owns 6,510,100 shares of the company valued at $ 241,240,000 after acquiring 62,941 additional shares during the last quarter. 53.36% of the shares are held by hedge funds and other institutional investors.
Fox Corp. offers compelling news, sports and entertainment content. The company provides information under the FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations brands. It operates in three segments: Cable Network Programming, Television and Other, Enterprise and Disposals.
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