We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fox (FOXA) Soars 9.1%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
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.
Image: Bigstock
Fox (FOXA) Soars 9.1%: Is Further Upside Left in the Stock?
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 >>>>