The upcoming report from Fox (FOXA) is expected to reveal quarterly earnings of $1.06 per share, indicating a decline of 26.9% compared to the year-ago period. Analysts forecast revenues of $3.58 billion, representing an increase of 0.4% year over year.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Fox metrics that are commonly monitored and projected by Wall Street analysts.
The consensus among analysts is that 'Revenues by Component- Advertising' will reach $1.28 billion. The estimate indicates a year-over-year change of -4%.
The average prediction of analysts places 'Revenues by Component- Affiliate fee' at $1.87 billion. The estimate indicates a year-over-year change of +1.4%.
Based on the collective assessment of analysts, 'Segment Revenues- Television' should arrive at $1.93 billion. The estimate suggests a change of -1.4% year over year.
The consensus estimate for 'Segment Revenues- Cable Network Programming' stands at $1.61 billion. The estimate indicates a year-over-year change of +0.9%.
The collective assessment of analysts points to an estimated 'Segment Revenues- Corporate and Other' of $19.63 million. The estimate points to a change of +40.2% from the year-ago quarter.
Analysts' assessment points toward 'Revenues by Component- Other' reaching $412.08 million. The estimate indicates a year-over-year change of +5.1%.
Analysts expect 'Revenues- Television- Other' to come in at $142.00 million. The estimate indicates a change of +2.2% from the prior-year quarter.
It is projected by analysts that the 'Revenues- Television- Affiliate fee' will reach $820.11 million. The estimate indicates a change of +1.8% from the prior-year quarter.
Analysts forecast 'Revenues- Television- Advertising' to reach $959.51 million. The estimate indicates a change of -4.8% from the prior-year quarter.
Analysts predict that the 'Revenues- Cable Network Programming- Advertising' will reach $312.32 million. The estimate points to a change of -2.7% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenues- Cable Network Programming- Affiliate fee' should come in at $1.05 billion. The estimate indicates a year-over-year change of +1.2%.
The combined assessment of analysts suggests that 'Revenues- Cable Network Programming- Other' will likely reach $251.69 million. The estimate indicates a year-over-year change of +5.3%.
View all Key Company Metrics for Fox here>>>
Shares of Fox have experienced a change of -3.1% in the past month compared to the +3.8% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), FOXA is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Fox Corporation (FOXA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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