FOX (NASDAQ:FOX) Share Price Passes Below 200-Day Moving Average – Here’s Why

Fox Corporation (NASDAQ:FOX) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $55.93 and traded as low as $51.10. FOX shares last traded at $51.47, with a volume of 1,035,031 shares changing hands.

FOX News Summary

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Fox’s media properties remain highly active, with Fox Weather coverage of Tropical Storm Bertha and Fox News’ political and breaking-news programming helping keep audience engagement elevated. Rubio warns Iran of ‘consequences’ as U.S. keeps door open to talks amid ongoing strikes
• Neutral Sentiment: Fox News continued to publish a large volume of political and general-interest segments, but these items are mostly content updates rather than new business developments for the parent company. Trump flexes GOP muscle in Arizona primaries as Dems dodge far-left upset
• Neutral Sentiment: Some media commentary highlighted Peacock’s subscriber boost from World Cup-related programming, underscoring continued strength in streaming competition, though this is not a direct FOX business update. Peacock is getting a lift from World Cup, Spanish-language content
• Negative Sentiment: FOX stock fell below its 200-day moving average, suggesting technical weakness and potentially encouraging more cautious trading. FOX (NASDAQ:FOX) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Wall Street Analyst Weigh In

Several research firms have weighed in on FOX. Weiss Ratings lowered FOX from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Rothschild & Co Redburn set a $71.00 target price on FOX in a research report on Friday, July 10th. Zacks Research cut FOX from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Finally, Citigroup reiterated a “buy” rating on shares of FOX in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.33.

FOX Stock Down 2.9%

The company has a current ratio of 2.90, a quick ratio of 2.65 and a debt-to-equity ratio of 0.60. The firm’s fifty day moving average price is $53.00 and its 200-day moving average price is $55.83. The company has a market cap of $20.66 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 1.47 and a beta of 0.57.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Monday, May 11th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.02 by $0.30. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.78 billion. FOX had a return on equity of 18.90% and a net margin of 10.56%. Sell-side analysts predict that Fox Corporation will post 4.78 earnings per share for the current year.

Institutional Investors Weigh In On FOX

A number of hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. grew its position in shares of FOX by 336.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock valued at $35,000 after purchasing an additional 475 shares during the period. Versant Capital Management Inc raised its holdings in FOX by 42.3% during the 2nd quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock worth $40,000 after buying an additional 251 shares during the period. FNY Investment Advisers LLC bought a new position in FOX in the fourth quarter valued at approximately $83,000. Geneos Wealth Management Inc. lifted its stake in FOX by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $76,000 after buying an additional 703 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of FOX by 130.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock valued at $119,000 after buying an additional 1,301 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.

FOX Company Profile

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.