Wall Street Zen upgraded shares of FOX (NASDAQ:FOXA – Free Report) from a hold rating to a buy rating in a research note released on Saturday morning.
FOXA has been the subject of a number of other research reports. UBS Group reissued a “neutral” rating on shares of FOX in a report on Monday, June 15th. Wolfe Research upgraded shares of FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 price target on the stock in a research note on Tuesday, June 30th. Weiss Ratings lowered shares of FOX from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Fox Advisors set a $82.00 price objective on shares of FOX in a research report on Friday. Finally, Wells Fargo & Company raised shares of FOX from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $65.00 to $80.00 in a research note on Friday. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.38.
View Our Latest Research Report on FOX
FOX Price Performance
FOX (NASDAQ:FOXA – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the firm posted $1.27 earnings per share. FOX’s revenue was up 28.1% compared to the same quarter last year. On average, sell-side analysts expect that FOX will post 5.89 earnings per share for the current fiscal year.
FOX Dividend Announcement
The company also recently announced a dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be issued a $0.29 dividend. This represents a yield of 94.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. FOX’s dividend payout ratio is presently 14.62%.
Hedge Funds Weigh In On FOX
Large investors have recently bought and sold shares of the company. Strategic Investment Advisors MI boosted its stake in shares of FOX by 19.8% during the first quarter. Strategic Investment Advisors MI now owns 83,066 shares of the company’s stock valued at $4,855,000 after purchasing an additional 13,749 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of FOX by 20.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock valued at $85,000 after buying an additional 251 shares during the period. Andra AP fonden increased its stake in shares of FOX by 208.1% in the first quarter. Andra AP fonden now owns 247,000 shares of the company’s stock valued at $14,425,000 after buying an additional 166,822 shares during the period. Wilkerson Advisory Group LLC increased its stake in shares of FOX by 50.6% in the first quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock valued at $84,000 after buying an additional 482 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in FOX by 9.9% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 287,000 shares of the company’s stock valued at $16,755,000 after buying an additional 25,900 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.
FOX Company Profile
Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.
Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.
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