FOX (NASDAQ:FOX – Get Free Report) released its quarterly earnings data on Monday. The company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.47, FiscalAI reports. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.32 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%.
FOX Stock Performance
Shares of FOX opened at $56.20 on Monday. The firm has a market cap of $23.58 billion, a P/E ratio of 14.67, a PEG ratio of 1.40 and a beta of 0.63. FOX has a twelve month low of $44.08 and a twelve month high of $68.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The firm’s 50 day moving average price is $58.14 and its two-hundred day moving average price is $56.00.
FOX Announces Dividend
The business also recently declared a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a yield of 96.0%. FOX’s payout ratio is presently 15.14%.
Insider Activity
In related news, CEO Lachlan Murdoch acquired 149,934 shares of the stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the transaction, the chief executive officer directly owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.06% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of equities analysts have issued reports on FOX shares. Wells Fargo & Company upgraded FOX from a “hold” rating to an “overweight” rating and set a $80.00 target price on the stock in a report on Friday, August 14th. Rothschild & Co Redburn set a $71.00 price target on FOX in a research note on Friday, July 10th. JPMorgan Chase & Co. raised FOX from a “neutral” rating to an “overweight” rating and upped their price target for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Wolfe Research set a $93.00 price target on shares of FOX in a research report on Thursday, August 20th. Finally, Seaport Research Partners lowered shares of FOX from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $78.78.
Read Our Latest Analysis on FOX
FOX Company Profile
Fox Corporation (NASDAQ: FOX) is a media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. Fox operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.
The company’s FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.
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