Fox Corporation [FOXA] stock Downgrade by Morgan Stanley analyst, price target now $38

Fox Corporation [NASDAQ: FOXA] traded at a high on 08/10/22, posting a 3.38 gain after which it closed the day’ session at $34.88. The company report on August 10, 2022 that FOX REPORTS FOURTH QUARTER FISCAL 2022 REVENUES OF $3.03 BILLION, NET INCOME OF $308 MILLION, AND ADJUSTED EBITDA OF $770 MILLION.


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FOX REPORTS FULL YEAR FISCAL 2022 REVENUES OF $13.97 BILLION, NET INCOME OF $1.23 BILLION, AND ADJUSTED EBITDA OF $2.96 BILLION.

Fox Corporation (Nasdaq: FOXA, FOX; “FOX” or the “Company”) today reported financial results for the three months and twelve months ended June 30, 2022.

The results of the trading session contributed to over 3563823 shares changing hands. Over the past one week, the price volatility of Fox Corporation stands at 2.30% while the volatility over the past one month is 2.56%.

The market cap for FOXA stock reached $18.94 billion, with 566.00 million shares outstanding and 446.13 million shares in the current float. Compared to the average trading volume of 2.40M shares, FOXA reached a trading volume of 3563823 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $42.67 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 2.50. 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.

Morgan Stanley have made an estimate for Fox Corporation shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on July 18, 2022. While these analysts kept the previous recommendation, Wolfe Research dropped their target price from $52 to $39. The new note on the price target was released on June 02, 2022, representing the official price target for Fox Corporation stock. Previously, the target price had yet another raise to $38, while Rosenblatt analysts kept a Neutral rating on FOXA stock. On February 10, 2022, analysts increased their price target for FOXA shares from 51 to 52.

The Average True Range (ATR) for Fox Corporation is set at 0.90, with the Price to Sales ratio for FOXA stock in the period of the last 12 months amounting to 1.37. The Price to Book ratio for the last quarter was 1.76, with the Price to Cash per share for the same quarter was set at 8.54. Price to Free Cash Flow for FOXA in the course of the last twelve months was 20.17 with Quick ratio for the last quarter at 3.40.

How has FOXA stock performed recently?

Fox Corporation [FOXA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.90. With this latest performance, FOXA shares gained by 5.00% in over the last four-week period, additionally sinking by -14.55% over the last 6 months – not to mention a drop of -5.68% 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 58.86, with the RSI for the last a single of trading hit 63.68, and the three-weeks RSI is set at 55.65 for Fox Corporation [FOXA]. The present Moving Average for the last 50 days of trading for this stock 33.46, while it was recorded at 33.79 for the last single week of trading, and 37.45 for the last 200 days.

Fox Corporation [FOXA]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Fox Corporation [FOXA] shares currently have an operating margin of +21.42 and a Gross Margin at +35.42. Fox Corporation’s Net Margin is presently recorded at +16.66.

Return on Total Capital for FOXA is now 14.26, given the latest momentum, and Return on Invested Capital for the company is 11.55. Return on Equity for this stock inclined to 20.27, with Return on Assets sitting at 9.62. When it comes to the capital structure of this company, Fox Corporation [FOXA] has a Total Debt to Total Equity ratio set at 75.99. Additionally, FOXA Total Debt to Total Capital is recorded at 43.18, with Total Debt to Total Assets ending up at 36.87. Long-Term Debt to Equity for the company is recorded at 68.43, with the Long-Term Debt to Total Capital now at 38.88.

Reflecting on the efficiency of the workforce at the company, Fox Corporation [FOXA] managed to generate an average of $238,889 per employee. Receivables Turnover for the company is 6.59 with a Total Asset Turnover recorded at a value of 0.58.Fox Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.40 and a Current Ratio set at 3.70.

Earnings analysis for Fox Corporation [FOXA]

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 7.64%.

Insider trade positions for Fox Corporation [FOXA]

There are presently around $11,185 million, in the hands of institutional investors. The top three institutional holders of FOXA stocks are: DODGE & COX with ownership of 47,302,575, which is approximately -0.98% of the company’s market cap and around 2.03% of the total institutional ownership; BLACKROCK INC., holding 41,131,018 shares of the stock with an approximate value of $1.43 billion in FOXA stocks shares; and VANGUARD GROUP INC, currently with $1.18 billion in FOXA stock with ownership of nearly 0.027% of the company’s market capitalization.

Positions in Fox Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 254 institutional holders increased their position in Fox Corporation [NASDAQ:FOXA] by around 20,398,213 shares. Additionally, 281 investors decreased positions by around 22,814,270 shares, while 82 investors held positions by with 277,444,265 shares. The mentioned changes placed institutional holdings at 320,656,748 shares, according to the latest SEC report filing. FOXA stock had 67 new institutional investments in for a total of 5,300,246 shares, while 69 institutional investors sold positions of 1,298,797 shares during the same period.

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