Fox (FOXA - Free Report) shares rallied 9.1% in the last trading session to close at $37.95. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.8% gain over the past four weeks.
Fox extended its rally for the third straight day driven by optimism over increasing viewership and improving advertising demand on stronger linear and digital results at FOX News Media.
On Mar 2, Fox announced that FOX News Channel (“FNC”) finished the month of February as the top-rated network in primetime cables, according to Nielsen Media Research. Interestingly, it has remained the top-rated network in all of cable in primetime total viewers since inauguration.
In terms of total day viewership, FNC saw 1.3 million viewers for the month of February, 210K in the 25-54 age group and 119K in the 18-49 age bracket, outpacing sports-focused ESPN in both dayparts. In primetime, FNC secured 2.5 million viewers, 365K in the 25-54 age group and 225K in the 18-49 age range.
Price and Consensus
This TV broadcasting company is expected to post quarterly earnings of $0.55 per share in its upcoming report, which represents a year-over-year change of -40.9%. Revenues are expected to be $3.08 billion, down 10.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Fox, the consensus EPS estimate for the quarter has been revised 0.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FOXA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Fox (FOXA - Free Report) shares rallied 9.1% in the last trading session to close at $37.95. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.8% gain over the past four weeks.
Fox extended its rally for the third straight day driven by optimism over increasing viewership and improving advertising demand on stronger linear and digital results at FOX News Media.
On Mar 2, Fox announced that FOX News Channel (“FNC”) finished the month of February as the top-rated network in primetime cables, according to Nielsen Media Research. Interestingly, it has remained the top-rated network in all of cable in primetime total viewers since inauguration.
In terms of total day viewership, FNC saw 1.3 million viewers for the month of February, 210K in the 25-54 age group and 119K in the 18-49 age bracket, outpacing sports-focused ESPN in both dayparts. In primetime, FNC secured 2.5 million viewers, 365K in the 25-54 age group and 225K in the 18-49 age range.
Price and Consensus
This TV broadcasting company is expected to post quarterly earnings of $0.55 per share in its upcoming report, which represents a year-over-year change of -40.9%. Revenues are expected to be $3.08 billion, down 10.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Fox, the consensus EPS estimate for the quarter has been revised 0.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FOXA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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