New York-based Fox Corporation (FOX) operates as a news, sports, and entertainment company. Valued at $22.9 billion by market cap, the company produces and licenses news, sports, and entertainment content for distribution through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors. It also manages broadcast studios, theaters, editing bays, sound stages, and other production facilities.
Shares of this media giant have outperformed the broader market over the past year. FOX has gained 65.2% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 10.1%. In 2025, FOX stock is up 10.4%, surpassing the SPX’s marginal dip on a YTD basis.
Zooming in further, FOX’s outperformance looks less pronounced compared to Invesco Leisure and Entertainment ETF (PEJ). The exchange-traded fund has gained about 15.5% over the past year. Moreover, FOX’s double-digit gains on a YTD basis outshine the ETF’s 1.1% downtick over the same time frame.
FOX's strong performance is fueled by growth in cable network programming and expansion into streaming with Fox One and Tubi, along with success in video advertising. However, the significant viewership growth in Q1 following a controversial election should be viewed with caution, as it was driven by heightened engagement during a politically charged period.
On May 12, FOX shares closed up more than 4% after reporting its Q3 results. Its revenue stood at $4.4 billion, up 26.8% year over year. The company’s adjusted EPS increased marginally year over year to $1.10.
For the current fiscal year, ending in June, analysts expect FOX’s EPS to grow 32.4% to $4.54 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.
Among the 13 analysts covering FOX stock, the consensus is a “Moderate Buy.” That’s based on six “Strong Buy” ratings, and seven “Holds.”
The configuration is consistent over the past three months.
On May 13, TD Cowen kept a “Hold” rating on FOX and raised the price target to $50.
The mean price target of $54.92 represents an 8.7% premium to FOX’s current price levels. The Street-high price target of $63 suggests an upside potential of 24.7%.
