Fox Corporation (NASDAQ:FOXA – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the twenty-four ratings firms that are presently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $78.12.
FOXA has been the subject of several analyst reports. Seaport Research Partners cut shares of FOX from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. Fox Advisors set a $85.00 target price on shares of FOX in a research note on Friday, October 16th. Oppenheimer downgraded FOX to a “market perform” rating in a report on Friday, October 16th. Raymond James Financial raised shares of FOX to a “strong-buy” rating in a research report on Friday, October 16th. Finally, Citizens Jmp started coverage on shares of FOX in a report on Monday, September 14th. They issued a “market outperform” rating and a $95.00 price objective on the stock.
Check Out Our Latest Analysis on FOXA
FOX Trading Down 1.9%
FOX stock opened at $65.33 on Friday. The business has a 50 day moving average price of $65.53 and a two-hundred day moving average price of $62.58. The stock has a market cap of $27.42 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.16 and a beta of 0.60. FOX has a 12 month low of $48.34 and a 12 month high of $76.39. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56.
FOX (NASDAQ:FOXA – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. As a group, equities analysts forecast that FOX will post 6.06 EPS for the current year.
FOX Announces Dividend
The business also recently announced a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a dividend yield of 86.0%. FOX’s payout ratio is presently 15.14%.
Insider Buying and Selling
In related news, CEO Lachlan Murdoch purchased 149,934 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the purchase, the chief executive officer owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 20.89% of the company’s stock.
Institutional Investors Weigh In On FOX
Several hedge funds have recently bought and sold shares of the stock. Junto Capital Management LP bought a new stake in shares of FOX during the second quarter worth approximately $34,773,000. Robeco Institutional Asset Management B.V. acquired a new stake in FOX during the 3rd quarter worth approximately $29,395,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in FOX in the 2nd quarter valued at $21,519,000. Andra AP fonden boosted its stake in FOX by 208.1% in the 1st quarter. Andra AP fonden now owns 247,000 shares of the company’s stock valued at $14,425,000 after purchasing an additional 166,822 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new stake in FOX in the 3rd quarter valued at $10,258,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.
About FOX
Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.
FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.
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