Is Fox Corporation (NASDAQ: FOXA) Proving The Doubters Wrong?

Fox Corporation (FOXA) concluded trading on Wednesday at a closing price of $28.42, with 4.12 million shares of worth about $117.21 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -9.58% during that period and on Wednesday the price saw a loss of about -1.39%. Currently the company’s common shares owned by public are about 262.90M shares, out of which, 237.46M shares are available for trading.

However, the stock later moved at a day high price of 29.32, or with a loss of -1.39%. Stock saw a price change of -3.46% in past 5 days and over the past one month there was a price change of -9.52%. Year-to-date (YTD), FOXA shares are showing a performance of -4.21% which decreased to -18.33% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $28.40 but also hit the highest price of $35.56 during that period. The average intraday trading volume for Fox Corporation shares is 3.58 million. The stock is currently trading -4.77% below its 20-day simple moving average (SMA20), while that difference is down -6.76% for SMA50 and it goes to -9.78% lower than SMA200.

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Fox Corporation (NASDAQ: FOXA) currently have 262.90M outstanding shares and institutions hold larger chunk of about 54.13% of that.

The stock has a current market capitalization of $13.50B and its 3Y-monthly beta is at 0.80. PE ratio of stock for trailing 12 months is 16.84, while it has posted earnings per share of $1.69 in the same period. Its PEG reads 21.05 and has Quick Ratio of 2.01 while making debt-to-equity ratio of 0.92. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FOXA, volatility over the week remained 2.65% while standing at 2.84% over the month.

Stock’s fiscal year EPS is expected to drop by -8.23% while it is estimated to increase by 15.38% in next year. EPS is likely to grow at an annualized rate of 0.80% for next 5-years, compared to annual growth of -7.92% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on February 23, 2024 offering a Buy rating for the stock and assigned a target price range of between $34 and $35 to it. Stock get a Mkt perform rating from Bernstein on October 06, 2023.

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