Fox Corporation [NASDAQ: FOXA] closed the trading session at $37.15 on 06/17/21. The day’s price range saw the stock hit a low of $36.91, while the highest price level was $37.99. The company report on June 18, 2021 that Fox Corporation Announces $2 Billion Incremental Stock Repurchase Authorization.
William A. Burck Elected to the Board of Directors.
Fox Corporation (Nasdaq: FOXA, FOX) (the “Company” or “FOX”) announced that its Board of Directors (the “Board”) has authorized incremental stock repurchases of up to an additional $2 billion of the Company’s Class A common stock and Class B common stock. With this increase, the Company’s total stock repurchase authorization is now $4 billion of which more than $1.56 billion has been completed to date. Subject to market conditions and other factors, the Company intends to repurchase, in the open market or otherwise, a combination of the Company’s Class A common stock and Class B common stock. This stock repurchase program has no time limit and may be modified, suspended or discontinued at any time.
The stocks have a year to date performance of 27.58 percent and weekly performance of -0.85 percent. The stock has been moved at 29.99 percent over the last six months. The stock has performed -0.54 percent around the most recent 30 days and changed -13.36 percent over the most recent 3-months.
If compared to the average trading volume of 3.44M shares, FOXA reached to a volume of 3087858 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Fox Corporation [FOXA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FOXA shares is $41.18 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FOXA stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for Fox Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 09, 2021. While these analysts kept the previous recommendation, Rosenblatt raised their target price from $25 to $35. The new note on the price target was released on May 04, 2021, representing the official price target for Fox Corporation stock. Previously, the target price had yet another raise from $27 to $41, while Wells Fargo kept a Equal Weight rating on FOXA stock.
The Average True Range (ATR) for Fox Corporation is set at 0.89, with the Price to Sales ratio for FOXA stock in the period of the last 12 months amounting to 1.68. The Price to Book ratio for the last quarter was 1.98, with the Price to Cash per share for the same quarter was set at 10.25. Price to Free Cash Flow for FOXA in the course of the last twelve months was 9.54 with Quick ratio for the last quarter at 2.70.
FOXA stock trade performance evaluation
Fox Corporation [FOXA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.85. With this latest performance, FOXA shares dropped by -0.54% in over the last four-week period, additionally plugging by 29.99% over the last 6 months – not to mention a rise of 32.35% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FOXA stock in for the last two-week period is set at 46.84, with the RSI for the last a single of trading hit 45.01, and the three-weeks RSI is set at 47.98 for Fox Corporation [FOXA]. The present Moving Average for the last 50 days of trading for this stock 37.56, while it was recorded at 37.63 for the last single week of trading, and 32.64 for the last 200 days.
Fox Corporation [FOXA]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Fox Corporation [FOXA] shares currently have an operating margin of +21.07 and a Gross Margin at +35.22. Fox Corporation’s Net Margin is presently recorded at +8.12.
Return on Total Capital for FOXA is now 14.47, given the latest momentum, and Return on Invested Capital for the company is 5.68. Return on Equity for this stock inclined to 9.97, with Return on Assets sitting at 4.84. When it comes to the capital structure of this company, Fox Corporation [FOXA] has a Total Debt to Total Equity ratio set at 84.41. Additionally, FOXA Total Debt to Total Capital is recorded at 45.77, with Total Debt to Total Assets ending up at 39.17. Long-Term Debt to Equity for the company is recorded at 83.20, with the Long-Term Debt to Total Capital now at 45.12.
Reflecting on the efficiency of the workforce at the company, Fox Corporation [FOXA] managed to generate an average of $111,000 per employee. Receivables Turnover for the company is 6.38 with a Total Asset Turnover recorded at a value of 0.60.Fox Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 2.90.
Earnings per share (EPS) analysis for Fox Corporation [FOXA] stock
With the latest financial reports released by the company, Fox Corporation posted 0.62/share EPS, while the average EPS was predicted by analysts to be reported at 0.57/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FOXA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fox Corporation go to 8.05%.
Fox Corporation [FOXA]: Insider Ownership positions
There are presently around $11,895 million, or 100.00% of FOXA stock, in the hands of institutional investors. The top three institutional holders of FOXA stocks are: DODGE & COX with ownership of 43,671,664, which is approximately -1.362% of the company’s market cap and around 1.66% of the total institutional ownership; BLACKROCK INC., holding 40,304,436 shares of the stock with an approximate value of $1.5 billion in FOXA stocks shares; and VANGUARD GROUP INC, currently with $1.27 billion in FOXA stock with ownership of nearly 2.091% of the company’s market capitalization.
Positions in Fox Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 262 institutional holders increased their position in Fox Corporation [NASDAQ:FOXA] by around 30,955,509 shares. Additionally, 247 investors decreased positions by around 59,124,360 shares, while 68 investors held positions by with 230,097,403 shares. The mentioned changes placed institutional holdings at 320,177,272 shares, according to the latest SEC report filing. FOXA stock had 87 new institutional investments in for a total of 7,914,042 shares, while 63 institutional investors sold positions of 9,201,948 shares during the same period.