Fox Corporation (NASDAQ:FOXA) Receives $57.60 Average Price Target from Analysts

Shares of Fox Corporation (NASDAQ:FOXA) have earned a consensus rating of “Moderate Buy” from the eighteen research firms that are presently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $57.60.

Several research analysts have weighed in on the company. Morgan Stanley set a $65.00 price target on FOX in a report on Tuesday, September 9th. Bank of America boosted their price target on FOX from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, September 26th. Wells Fargo & Company boosted their price target on FOX from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, September 8th. Cfra Research upgraded FOX from a “hold” rating to a “moderate buy” rating in a report on Tuesday, August 5th. Finally, Wall Street Zen downgraded FOX from a “buy” rating to a “hold” rating in a report on Saturday, August 9th.

Institutional Trading of FOX

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of FOX by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 25,739,628 shares of the company’s stock worth $1,456,863,000 after buying an additional 518,835 shares during the last quarter. Invesco Ltd. increased its holdings in shares of FOX by 3.0% during the 1st quarter. Invesco Ltd. now owns 3,680,293 shares of the company’s stock worth $208,305,000 after buying an additional 107,687 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of FOX by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,709,021 shares of the company’s stock worth $153,331,000 after buying an additional 32,144 shares during the last quarter. AustralianSuper Pty Ltd increased its holdings in shares of FOX by 8.8% during the 1st quarter. AustralianSuper Pty Ltd now owns 2,636,367 shares of the company’s stock worth $149,218,000 after buying an additional 212,348 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of FOX by 1.3% during the 1st quarter. KBC Group NV now owns 2,397,604 shares of the company’s stock worth $135,704,000 after buying an additional 29,906 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Price Performance

FOXA stock opened at $58.18 on Tuesday. FOX has a 1 year low of $41.59 and a 1 year high of $65.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91. The stock’s 50 day moving average price is $59.64 and its 200 day moving average price is $55.68. The firm has a market cap of $25.92 billion, a P/E ratio of 11.85, a PEG ratio of 1.37 and a beta of 0.54.

FOX (NASDAQ:FOXA) last posted its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.26. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%.FOX’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. On average, sell-side analysts expect that FOX will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $0.28 per share. This represents a dividend yield of 93.0%. The ex-dividend date was Wednesday, September 3rd. This is a positive change from FOX’s previous dividend of $0.18. FOX’s payout ratio is currently 11.41%.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.