FOX (NASDAQ:FOX) Reaches New 1-Year Low – Time to Sell?

Fox Corporation (NASDAQ:FOX)’s stock price hit a new 52-week low on Tuesday . The company traded as low as $48.31 and last traded at $49.96, with a volume of 6960495 shares. The stock had previously closed at $58.92.

FOX News Summary

Here are the key news stories impacting FOX this week:

• Positive Sentiment: The Roku deal could strengthen Fox’s position in the fast-growing streaming and connected-TV advertising markets by giving it access to Roku’s platform and more than 100 million households. Fox Captures The Living Room With $22B Roku Buy (FOX)
• Positive Sentiment: Analyst coverage suggests the acquisition could improve Fox’s long-term relevance in digital media by combining Fox’s content with Roku’s distribution and ad-tech capabilities. How Roku fits into Fox’s future – and what investors are missing about the deal
• Neutral Sentiment: Some commentary notes the deal marks a major strategic pivot for Fox away from legacy media, but the market is still assessing whether the price tag and integration risk make the transaction accretive. Fox Is Buying Roku. Is It a Better Buy than Netflix, Disney, and Paramount Skydance?
• Negative Sentiment: Bearish takes warn that Fox may be taking on execution and valuation risk by paying up for Roku, which could weigh on near-term sentiment even if the strategic rationale is sound. Why Netflix or Disney Should Hijack Fox’s Roku Deal

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of FOX in a report on Friday, May 22nd. Zacks Research upgraded FOX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Bank of America restated an “underperform” rating and issued a $45.00 price objective (down from $80.00) on shares of FOX in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

FOX Stock Performance

The company has a 50-day moving average price of $57.29 and a two-hundred day moving average price of $58.36. The stock has a market capitalization of $19.64 billion, a P/E ratio of 12.33, a PEG ratio of 5.66 and a beta of 0.54. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60.

FOX (NASDAQ:FOX) last announced its quarterly earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Equities analysts expect that Fox Corporation will post 4.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FOX. Marshall Wace LLP grew its holdings in shares of FOX by 792.4% during the third quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock worth $182,448,000 after purchasing an additional 2,827,768 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of FOX by 2,459.6% during the fourth quarter. SG Americas Securities LLC now owns 413,037 shares of the company’s stock worth $26,818,000 after purchasing an additional 396,900 shares in the last quarter. Pinebridge Investments LLC purchased a new position in shares of FOX during the fourth quarter worth about $13,758,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of FOX during the first quarter worth about $9,328,000. Finally, Gabelli Funds LLC grew its holdings in shares of FOX by 26.4% during the third quarter. Gabelli Funds LLC now owns 538,400 shares of the company’s stock worth $30,845,000 after purchasing an additional 112,600 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

About FOX

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.