New York-based Fox Corporation (FOX) operates as a news, sports, and entertainment company in the United States. Valued at a market cap of $19.6 billion, the company operates in four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot, and broadcasts through channels such as FOX News, FOX Sports, the FOX Network, FS1, FS2, Fox Deportes, and more.

Companies with a market cap of $10 billion or more are typically referred to as “big-cap stocks.” FOX fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size and influence in the entertainment industry.

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Despite its strength, FOX stock slipped 31.1% from its 52-week high of $68.18, reached on Jan. 6. The stock is down 10% over the past three months, underperforming the S&P 500 Index’s ($SPX) 13.5% rise during the same time frame.

Moreover, FOX has lagged behind the broader market over the longer term. The stock has declined 6.5% over the past 52 weeks, while SPX has delivered a 25.4% return over the same period.

FOX has been trading below its 200-day and 50-day moving averages since this month.

On Jun. 15, FOX stock declined 15.2% following the company’s announcement of a definitive agreement to acquire Roku for $160.00 per share, in a combination of cash and FOX Class A common stock, valuing Roku, Inc. (ROKU) at approximately $22 billion in enterprise value. However, the news of this acquisition did not sit well with investors, leading to a steep decline in the stock that day.

When stacked against its peer, Live Nation Entertainment, Inc. (LYV), FOX has underperformed. Over the past year, LYV stock has grown 15.5%.

Wall Street currently has a moderately bullish view of the stock. Among the 14 analysts tracking FOX, the overall consensus stands at a “Moderate Buy.” Its mean price target of $68.69 offers a 46.3% upside potential from current prices.

On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com