In a remarkable display of market confidence, shares of Fox Corporation (FOXA) have surged to an all-time high, reaching a price level of $47.63. According to InvestingPro data, the company trades at an attractive P/E ratio of 11, while management has been actively buying back shares to boost shareholder value. This milestone underscores a period of significant growth for the media giant, which has seen its stock value climb by an impressive 62% year-to-date. With a market capitalization of $21.6 billion and consistent dividend growth over the past four years, investors have rallied behind Fox's strategic moves and strong performance across its various media and entertainment platforms, propelling the stock to new heights and setting a robust precedent for the company's financial future. For deeper insights into Fox Corporation's growth potential and comprehensive analysis, explore the detailed Pro Research Report available on InvestingPro, which offers exclusive access to 12 additional ProTips and advanced financial metrics.
In other recent news, Fox Corporation has reported an 11% increase in total revenues for the first quarter of fiscal year 2025, amounting to $3.56 billion. The company's EBITDA also rose by 21%, crossing the $1 billion mark, and net income reached $827 million, primarily driven by high audience engagement across Fox News and sports programming. Additionally, the company's streaming service, Tubi, reported a revenue growth of 19% and is projected to exceed $1 billion for the fiscal year.
In light of these strong financial results, Citi has raised its price target for Fox Corp (NASDAQ:FOXA) from $47 to $50, maintaining a Buy rating on the stock. The new price target is based on approximately 10 times Citi's 2025 free cash flow per share estimate for Fox Corp.
Furthermore, Fox Corp shareholders have elected several directors and ratified Ernst & Young LLP as the company's independent auditor for the upcoming fiscal year. The shareholders also approved, on an advisory and nonbinding basis, the compensation of named executive officers. These are recent developments that highlight the ongoing financial performance and market position of Fox Corp.
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