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Fox Corporation (NASDAQ:FOX) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer called the company being one of the worst-performing stocks in the S&P 500 an “anomaly.” He said:
Next up, the eighth-worst-performing in the S&P last month was Fox. Now, this is an anomaly. It’s down 22.6%. Odd. Fox has been the best-performing traditional media company for a while now and reported a stellar quarter in early February, just a colossal earnings beat. But the stock sold off in response, and it’s been sinking lower ever since. I think the sellers might be worried about new competition, as Paramount won the bidding war for Warner Brothers Discovery. Whatever the reason, Fox now trades at just 12 times this year’s earnings estimates, and I think that’s pretty cheap, too cheap.
Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels
Fox Corporation (NASDAQ:FOX) produces and distributes news, sports, and entertainment content and manages a studio lot for film and television production. We recently covered Bank of America’s recent downgrade and price revision on the stock. You can read it here.
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