Wall Street analysts forecast that Fox (FOXA) will report quarterly earnings of $0.47 per share in its upcoming release, pointing to a year-over-year decline of 51%. It is anticipated that revenues will amount to $5.06 billion, exhibiting a decrease of 0.4% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
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.
Given this perspective, it's time to examine the average forecasts of specific Fox metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts forecast 'Revenues by Component- Advertising' to reach $2.30 billion. The estimate suggests a change of -5.1% year over year.
Analysts predict that the 'Revenues by Component- Distribution' will reach $1.95 billion. The estimate indicates a year-over-year change of +2.5%.
According to the collective judgment of analysts, 'Segment Revenues- Television' should come in at $2.87 billion. The estimate indicates a year-over-year change of -3.1%.
Analysts' assessment points toward 'Segment Revenues- Cable Network Programming' reaching $2.18 billion. The estimate indicates a year-over-year change of +0.8%.
Analysts expect 'Revenues by Component- Other' to come in at $816.35 million. The estimate suggests a change of +8% year over year.
The average prediction of analysts places 'Revenues- Television- Other' at $172.50 million. The estimate indicates a year-over-year change of -1.4%.
The collective assessment of analysts points to an estimated 'Revenues- Television- Distribution' of $826.06 million. The estimate points to a change of +0.3% from the year-ago quarter.
The consensus estimate for 'Revenues- Television- Advertising' stands at $1.88 billion. The estimate points to a change of -4.3% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenues- Cable Network Programming- Advertising' should arrive at $433.21 million. The estimate points to a change of -5.8% from the year-ago quarter.
The consensus among analysts is that 'Revenues- Cable Network Programming- Distribution' will reach $1.13 billion. The estimate suggests a change of +4.8% year over year.
It is projected by analysts that the 'Revenues- Cable Network Programming- Other' will reach $623.02 million. The estimate indicates a year-over-year change of -1%.
The combined assessment of analysts suggests that 'Segment EBITDA- Cable Network Programming' will likely reach $555.18 million. Compared to the present estimate, the company reported $657.00 million in the same quarter last year.
View all Key Company Metrics for Fox here>>>
Fox shares have witnessed a change of -4.4% in the past month, in contrast to the Zacks S&P 500 composite's +1.8% move. With a Zacks Rank #2 (Buy), FOXA is expected outperform the overall market performance in the near term. 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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