Fox Corp to Post FY2019 Earnings of $3.15 Per Share, Gabelli Forecasts (FOXA)

Fox Corp (NASDAQ:FOXA) – Equities research analysts at Gabelli issued their FY2019 earnings per share (EPS) estimates for shares of FOX in a note issued to investors on Wednesday, May 15th. Gabelli analyst B. Harriss expects that the company will earn $3.15 per share for the year. Gabelli has a “Buy” rating and a $57.00 price objective on the stock. Gabelli also issued estimates for FOX’s FY2020 earnings at $3.35 EPS, FY2021 earnings at $4.15 EPS, FY2022 earnings at $4.65 EPS and FY2023 earnings at $5.65 EPS.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the business posted $0.49 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis.

A number of other analysts have also issued reports on FOXA. Zacks Investment Research lowered FOX from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Societe Generale lowered FOX from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. Vertical Group raised FOX from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Buckingham Research raised their price target on FOX from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, February 25th. Finally, UBS Group raised their price target on FOX to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $47.00.

Shares of NASDAQ:FOXA opened at $37.69 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.60 and a quick ratio of 3.77. FOX has a 12-month low of $35.90 and a 12-month high of $41.95.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOXA. Oregon Public Employees Retirement Fund lifted its stake in shares of FOX by 5,167.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,853,970 shares of the company’s stock valued at $309,000 after purchasing an additional 14,571,988 shares in the last quarter. FMR LLC lifted its stake in shares of FOX by 15.2% in the 4th quarter. FMR LLC now owns 33,154,386 shares of the company’s stock valued at $1,595,388,000 after purchasing an additional 4,364,397 shares in the last quarter. MFN Partners Management LP purchased a new stake in shares of FOX during the 4th quarter valued at about $202,104,000. Aravt Global LLC purchased a new stake in shares of FOX during the 4th quarter valued at about $147,969,000. Finally, Norges Bank purchased a new stake in shares of FOX during the 4th quarter valued at about $98,035,000. 2.49% of the stock is currently owned by institutional investors and hedge funds.

The company also recently disclosed a Semi-Annual dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $0.23 dividend. This is a positive change from FOX’s previous Semi-Annual dividend of $0.18. The ex-dividend date of this dividend is Friday, May 17th.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.

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Earnings History and Estimates for FOX (NASDAQ:FOXA)

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