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Tuesday, October 20, 2020

Fox Corporation (NASDAQ:FOX) Recent Earnings Shows Major Concern

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Fox Corporation (FOX) shares are trading at lower $27.47.

To add more color to this target, the company’s high over the last year is $38.84 and the low is $19.13. Over the last 52 weeks, FOX is down -11.42% while the S&P 500 is up 18.31%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, FOX reported a profit of $1.23 billion. Fox Corporation also saw revenues increase to $2.42 billion. In addition, FOX has free cash flow of $2.01 billion as of 06-2020. The company’s EBITDA came in at $742.0 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. FOX has a short ratio of 2.33 and outstanding shares of 586.91M.

Company Outlook

FOX has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at 1.62. Fox Corporation FOX also noted assets of $21.75 billion at the end of the last quarter. Investors should also keep an eye on sector updates as FOX has historically followed its peers on positive news.

All told, Fox Corporation FOX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, FOX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Fox Corporation FOX is now commanding a market cap of 16.12B and a float of 460.64M. FOX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of FOX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in FOX, either long or short, and we have not been compensated for this article.

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