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
- Gutfeld! Notches Largest Audience in Program History With Nearly Five Million Viewers During Interview With Former President Donald Trump • Business Wire • 09/20/2024 04:07:00 PM
- OutKick Delivers Strong Year Over Year Growth in August 2024 • Business Wire • 09/18/2024 02:56:00 PM
- FOX News Digital Leads News Brands With Multiplatform Views and Minutes Throughout August • Business Wire • 09/17/2024 09:36:00 PM
- FOX Weather Expands Distribution to DIRECTV • Business Wire • 09/17/2024 03:04:00 PM
- FOX Nation Taps Vivek Ramaswamy to Host New Series “Truths with Vivek Ramaswamy” Premiering September 22 • Business Wire • 09/16/2024 04:57:00 PM
- FOX Weather Names Weather Channel Executive Jason Hermes as Vice President of Advertising Sales and Partnerships • Business Wire • 09/09/2024 08:29:00 PM
- Fox Corporation Executive Chair and Chief Executive Officer Lachlan Murdoch to Participate in Upcoming Goldman Sachs Communacopia & Technology Conference • PR Newswire (US) • 09/03/2024 04:00:00 PM
- OutKick Sees Month Over Month Growth in Views & Minutes • Business Wire • 08/20/2024 03:36:00 PM
- FOX News Digital Sees Best Month With Multiplatform Views and Minutes Since January 2021 • Business Wire • 08/19/2024 09:10:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/16/2024 09:47:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/14/2024 08:38:48 PM
- FOX News Media Promotes Trey Yingst to Chief Foreign Correspondent • Business Wire • 08/06/2024 05:41:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/06/2024 11:35:51 AM
- FOX REPORTS FOURTH QUARTER FISCAL 2024 REVENUES OF $3.09 BILLION, NET INCOME OF $320 MILLION, AND ADJUSTED EBITDA OF $773 MILLION • PR Newswire (US) • 08/06/2024 11:30:00 AM
- OutKick to Launch The Ricky Cobb Show on August 12 • Business Wire • 08/05/2024 03:10:00 PM
- FOX Weather Hires Veteran Meteorologist Mike Seidel After More Than 30-Year Stint at The Weather Channel • Business Wire • 08/05/2024 02:06:00 PM
- FOX Weather Expands Distribution to Pluto TV • Business Wire • 08/05/2024 01:47:00 PM
- FOX News Channel Is Number One in All of Television With Weekday Primetime and Delivers Highest-rated July in Network History Amid Historic Breaking News • Business Wire • 07/30/2024 08:46:00 PM
- Fox Corporation Executives to Discuss Fourth Quarter and Full Year Fiscal 2024 Financial Results Via Webcast • PR Newswire (US) • 07/26/2024 08:04:00 PM
- Katherine Moran Meeks Named General Counsel of FOX News Media • Business Wire • 07/24/2024 10:00:00 PM
- OutKick Delivers Month Over Month Growth in June 2024 • Business Wire • 07/19/2024 03:06:00 PM
- FOX News Digital Continues to Lead News Brands With Multiplatform Minutes and Views During Second Quarter • Business Wire • 07/19/2024 02:39:00 PM
- FOX Weather to Simulcast Weekday Mornings on FOX Business Network • Business Wire • 07/09/2024 06:56:00 PM
- FOX Nation to Debut Weekly Series “Here’s the Deal With Kellyanne Conway” Beginning Thursday, July 11th • Business Wire • 07/08/2024 02:39:00 PM
- FOX News Channel Hits 90 Consecutive Quarters at Number One and Posts Double-Digit Growth Among Every Category Year-Over-Year • Business Wire • 07/02/2024 07:10:00 PM
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