Valued at a market cap of $27.6 billion, Fox Corporation (FOXA) is a major U.S. media and entertainment company focused on television broadcasting, cable news, sports programming, and digital media. Headquartered in New York City, the company operates major brands including Fox News Media, Fox Sports, the Fox broadcast network, and the ad-supported streaming platform Tubi.
This entertainment company has underperformed the broader market over the past 52 weeks. Shares of FOXA have rallied 16.9% over this time frame, while the broader S&P 500 Index ($SPX) has gained 25.2%. Moreover, on a YTD basis, the stock is down 11.3%, lagging behind SPX’s 8.3% YTD rise.
Zooming in further, FOXA has outperformed the State Street Communication Services Select Sector SPDR ETF’s (XLC) 14.8% rise over the past 52 weeks.
On May 11, Fox released its fiscal 2026 Q3 earnings, and its shares popped 7.6%. Driven by resilient advertising trends, higher affiliate fee revenue, and continued momentum at its streaming platform Tubi, revenue came in at approximately $3.99 billion, beating Wall Street expectations of around $3.82 billion. Its adjusted earnings per share reached $1.32, well above analyst estimates of $0.97. Management also highlighted strong momentum in live sports and news programming, which continued attracting advertisers despite broader weakness in traditional television.
For fiscal 2026, ending in June, analysts expect FOXA’s EPS to rise 2.1% year over year to $4.88. The company’s earnings surprise history is promising. It exceeded the consensus estimates in each of the last four quarters.
Among the 21 analysts covering the stock, the consensus rating is a "Moderate Buy,” which is based on eight “Strong Buy,” one "Moderate Buy,” 11 "Hold,” and one “Moderate Sell” rating.
The configuration is bullish than a month ago, with seven analysts suggesting a “Strong Buy” rating.
On May 12, Evercore ISI raised its price target on Fox to $73 from $70 while maintaining an “In-Line” rating on the stock. The revised target reflects continued confidence in Fox’s operational performance and resilience in sports and news broadcasting.
The mean price target of $72.39 represents an 11.6% premium from FOXA’s current price levels, while the Street-high price target of $97 suggests a 49.6% potential upside from the current levels.
