Summary
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Fox Corporation (FOXA) has shown strong technical indicators, including 100% buy signals and a 15.98% increase in the last month.
The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot, with a market cap of $26.30 billion.
Analysts have mixed ratings, with 8 strong buys and 12 holds, and price targets ranging from $39 to $64, consensus at $56.
Despite recent gains, future revenue and earnings are expected to decrease next year; investors should consider volatility and risk tolerance.
The Chart of the Day belongs to the entertainment company Fox (FOXA) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 1/27 the stock gained 13.48%.
FOXA (Barchart)
Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S. Television segment produces, acquires, markets, and distributes programming through the FOX broadcast network, advertising supported video-on-demand service Tubi, and operates power broadcast television stations including duopolies and other digital platform; and produces content for third parties. The Credible segment engages in the consumer finance marketplace. The FOX Studio Lot segment provides television and film production services along with office space, studio operation services and includes all operations of the facility. The company was incorporated in 2018 and is headquartered in New York, New York.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 98.12+ Weighted Alpha
- 88.26% gain in the last year
- .76 - 60 month Beta
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 11 new highs and up 15.98% in the last month
- Relative Strength Index 69.21%
- Technical support level at $56.24
- Recently traded at $56.91 with 50 day moving average of $50.92
Fundamental Factors:
- Market Cap $26.30 billion
- P/E 12.94
- Dividend yield ,91%
- Revenue expected to grow 13.57% this year but decrease 3.39% next year
- Earnings estimated to increase 27.01% this year but decrease by 7.71% next year
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts issued 8 strong buy,1 buy, 12 hold and 1 sell opinion on the stock
- Their price targets between $39 and $64 with a consensus of $56
- Value Line gives the stock an above average rating with a price target of $52 for a 10% loss and comments:" These shares are favorably ranked for year-ahead relative price performance. The stock has jumped around 60% in value over the past year. Still, much of the good news we envision over the medium and long terms is already factored into the recent quotation."
- CFRAs MarketScope rates the stock a hold with a price target of $57 and comments:" FOXA has major franchises in live sports and news with many media channels. We think FOXA is executing on linear network assets and has a strong balance sheet with $3.3B in cash. We think Lachlan Murdoch, FOXA’s Executive Chairman and CEO, has done a great job avoiding the video streaming paid subscriber market."
- MorningStar thinks the stock is fairly valued and comments: " Despite ongoing subscriber losses, Fox continues to squeeze higher fees from distributors and local stations. Its sports and news strategy has kept it from feeling the advertising pressure of peers. "
- Of the 3 investors following the stock on Motley Fool all 3 think the stock will beat the market
- 13,370 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
