With a market cap of $20.3 billion, Fox Corporation (FOX) is a major American media company that produces and distributes news, sports, and entertainment content through brands like FOX News, FOX Sports, and the FOX Network. Based in New York, the company operates across four segments: Cable Network Programming, Television, Credible, and the FOX Studio Lot.
Shares of the media giant have outperformed the broader market over the past 52 weeks. FOX has climbed 56.5% over this time frame, while the broader S&P 500 Index ($SPX) has gained 31%. In 2024, FOX surged 60.5%, lagging behind SPX's 25.2% YTD gain.
Narrowing the focus, Fox Corporation stock has also outpaced the Communication Services Select Sector SPDR ETF Fund's (XLC) 36.1% rise over the past 52 weeks and 33.3% increase on a YTD basis
Shares of Fox Corporation rose 2.8% on Nov. 4 due to its strong fiscal Q1 2025 performance, highlighted by adjusted EPS growth of 33% year-over-year to $1.45 and revenue growth of 11.1% year-over-year to $3.6 billion, both surpassing consensus estimates. The increase was driven by higher political advertising revenues, strong Tubi performance, and soccer broadcasts like UEFA and Copa América, which boosted advertising revenues by 10.8%. Additionally, a 20.6% rise in adjusted EBITDA, with improved margins and growth in both Cable Network Programming and Television revenues, underscored its operational strength.
For the current fiscal year, ending in June 2025, analysts expect FOX's EPS to grow 7.6% year-over-year to $3.69. The company's earnings surprise history is promising. It beat the consensus estimates in the last two quarters.
Among the eight analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on four “Strong Buy” ratings and four “Holds.”
On Nov. 6, Wells Fargo analyst Steven Cahall raised Fox Corporation's price target to $49 and maintained an “Overweight” rating, citing strong streaming potential for sports, solid viewership, and opportunities in consolidation and sports betting, deeming it a top risk-adjusted media investment.
As of writing, FOX is trading above the mean price target of $44.12. The Street-high price target of $51, implies a potential upside of 14.9% from the current price levels.
