Similar to Discovery, Fox stock is also down about 30% so far in 2020 and over the past year. Its forward P/E is down below 12, and RBC also sees potential here.
New-York-based Fox Corporation owns an impressive array of news, sports, and entertainment assets. It is perhaps best known for FOX News, FOX Business, FOX Studios movies, and an impressive array of sports channels.
Lead analyst Kutgun Maral has been busy and also issued an extensive initiation coverage report on Fox with an "outperform" rating and $31 price target. While Discovery has the greatest buyout potential, Maral believes “Fox [has] the most attractive portfolio of traditional media assets across our coverage.”
Similar dynamics are at play as affiliate fees paid by cable TV firms, which are 48% of Fox’s revenue, will slowly grow as consumers embrace content that can directly reach them. Advertising sales (43% of sales) will also struggle a bit as the economy struggles in the face of covid-19. But Maral sees continued steady free cash flow generation since Fox is one of the largest media players for advertisers to embrace. And sports, when it comes back, provides a very loyal viewership.
Most of Wall Street is surveying the media giant from the sidelines, with TipRanks analytics demonstrating Fox as a Hold. Based on 13 analysts polled in the last 3 months, 4 rate the stock a Buy, 7 maintain a Hold, while 2 issue a Sell. The 12-month average price target stands at $32.40, marking a nearly 25% upside from where the stock is currently trading. (See Fox stock analysis on TipRanks)
Recent FOXA News
- FOX News Audio to Debut The FOX Business Rundown Podcast on May 20 • Business Wire • 05/09/2024 04:08:00 PM
- Fox Corporation Chief Financial Officer Steve Tomsic to Participate in MoffettNathanson's Media, Internet & Communications Conference 2024 • PR Newswire (US) • 05/09/2024 04:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/08/2024 08:08:33 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 12:04:48 PM
- FOX REPORTS THIRD QUARTER FISCAL 2024 REVENUES OF $3.45 BILLION, NET INCOME OF $704 MILLION, AND ADJUSTED EBITDA OF $891 MILLION • PR Newswire (US) • 05/08/2024 12:00:00 PM
- FOX Nation to Launch New Sean Hannity Fronted Series “Outlaws and Lawmen: The West” on May 8 • Business Wire • 05/06/2024 04:31:00 PM
- FOX News Media Names Diana Jachman and Nathaniel King as Recipients of Fifth Annual Dr. Charles Krauthammer Memorial Scholarship • Business Wire • 05/01/2024 03:51:00 PM
- FOX Nation to Present Surviving a Serial Killer With Harris Faulkner • Business Wire • 04/30/2024 03:34:00 PM
- FOX Nation Acquires Exclusive Streaming Rights to Hour-long Film “Deep in the Heart” • Business Wire • 04/29/2024 04:04:00 PM
- OutKick Continues to See Growth in Q1 of 2024 • Business Wire • 04/18/2024 04:21:00 PM
- FOX News Digital Marks Twelve Consecutive Quarters Leading News Brands With Multiplatform Minutes • Business Wire • 04/17/2024 10:57:00 PM
- Fox Corporation Executives to Discuss Third Quarter Fiscal 2024 Financial Results Via Webcast • PR Newswire (US) • 04/11/2024 04:00:00 PM
- Greg Gutfeld Signs Multi-Year Contract Extension With FOX News Media • Business Wire • 04/04/2024 06:05:00 PM
- FOX Nation to Debut New Docuseries ‘Surviving Hamas: A Benjamin Hall Special’ on April 9 • Business Wire • 04/04/2024 02:48:00 PM
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- FOX Unveils Evolved AdRise Platform to Power OneFOX Audience Network • PR Newswire (US) • 04/03/2024 03:00:00 PM
- FOX News Channel Crushes CNN and MSNBC Combined in Total Day and Primetime Viewers for First Quarter of 2024 • Business Wire • 04/02/2024 07:40:00 PM
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- FOX Nation Partners With Martin Scorsese for New Docudrama ‘Martin Scorsese Presents: THE SAINTS’ • Business Wire • 03/27/2024 05:05:00 PM
- FOX Nation to Present “Prisoner of Putin” on Thursday, March 28th • Business Wire • 03/25/2024 02:51:00 PM
- FOX Nation to Premiere “Menendez Brothers: Victims or Villains” on Monday, March 25 • Business Wire • 03/21/2024 05:28:00 PM
- OutKick Delivers Over 20 Million Unique Visitors, Views, and Minutes in February 2024 • Business Wire • 03/21/2024 02:26:00 PM
- FOX News Digital Surpasses CNN With Total Digital Multiplatform Unique Visitors for First Time Ever • Business Wire • 03/19/2024 10:44:00 PM
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- FOX Nation Expands Distribution to DISH Network and SLING TV • Business Wire • 03/12/2024 05:14:00 PM
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Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
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