Morgan Stanley slashes price target on Fox Corporation [FOXA] – find out why.

Fox Corporation [NASDAQ: FOXA] closed the trading session at $32.94 on 03/16/23. The day’s price range saw the stock hit a low of $32.25, while the highest price level was $33.05. The company report on March 16, 2023 that FOX CORPORATION UNVEILS “FOX FUTURE” STUDIO LOT PROJECT.

Generating an Expected $1.5 Billion in Direct Local Economic Impact, the FOX FUTURE Studio Lot Project Proposes Nine New Sound Stages, Modern Production Facilities and Premium Commercial Office Space while Honoring the Legacy of the Iconic Property.

Nearly 100 years since filming began on the FOX Studio Lot, Fox Corporation (Nasdaq: FOXA, FOX; “FOX” or the “Company”) has announced the creation of the FOX FUTURE Studio Lot Project, which seeks to build the studio of the future amid the continued evolution of Century City.

The stocks have a year to date performance of 8.46 percent and weekly performance of -0.99 percent. The stock has been moved at -1.73 percent over the last six months. The stock has performed -7.89 percent around the most recent 30 days and changed 2.84 percent over the most recent 3-months.

If compared to the average trading volume of 2.66M shares, FOXA reached to a volume of 3746689 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 $38.38 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 January 31, 2023. The new note on the price target was released on January 25, 2023, representing the official price target for Fox Corporation stock. Previously, the target price had yet another raise to $28, while Wolfe Research analysts kept a Underperform rating on FOXA stock. On October 17, 2022, analysts decreased their price target for FOXA shares from 50 to 34.

The Average True Range (ATR) for Fox Corporation is set at 0.79, with the Price to Sales ratio for FOXA stock in the period of the last 12 months amounting to 1.20. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 7.80. Price to Free Cash Flow for FOXA in the course of the last twelve months was 10.52 with Quick ratio for the last quarter at 2.90.

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 -0.99. With this latest performance, FOXA shares dropped by -7.89% in over the last four-week period, additionally sinking by -1.73% over the last 6 months – not to mention a drop of -17.19% 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 39.38, with the RSI for the last a single of trading hit 35.60, and the three-weeks RSI is set at 43.50 for Fox Corporation [FOXA]. The present Moving Average for the last 50 days of trading for this stock 33.94, while it was recorded at 32.76 for the last single week of trading, and 32.72 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 +18.42 and a Gross Margin at +32.16. Fox Corporation’s Net Margin is presently recorded at +8.62.

Return on Equity for this stock inclined to 10.73, with Return on Assets sitting at 5.34.

Fox Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.90 and a Current Ratio set at 3.40.

Earnings per share (EPS) analysis for Fox Corporation [FOXA] stock

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 9.63%.

Fox Corporation [FOXA]: Insider Ownership positions

There are presently around $9,904 million, in the hands of institutional investors. The top three institutional holders of FOXA stocks are: BLACKROCK INC. with ownership of 45,744,624, which is approximately 3.302% of the company’s market cap and around 0.20% of the total institutional ownership; DODGE & COX, holding 40,067,365 shares of the stock with an approximate value of $1.32 billion in FOXA stocks shares; and VANGUARD GROUP INC, currently with $1.12 billion in FOXA stock with ownership of nearly 0.183% of the company’s market capitalization.

264 institutional holders increased their position in Fox Corporation [NASDAQ:FOXA] by around 15,641,479 shares. Additionally, 281 investors decreased positions by around 24,160,734 shares, while 71 investors held positions by with 260,863,706 shares. The mentioned changes placed institutional holdings at 300,665,919 shares, according to the latest SEC report filing. FOXA stock had 104 new institutional investments in for a total of 3,530,120 shares, while 69 institutional investors sold positions of 5,054,912 shares during the same period.