Fox Corporation (NASDAQ:FOXA) Receives Average Rating of “Hold” from Brokerages

Shares of Fox Corporation (NASDAQ:FOXAGet Free Report) have been given an average recommendation of “Hold” by the eighteen research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $74.3750.

FOXA has been the subject of several analyst reports. Weiss Ratings lowered FOX from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Barclays decreased their target price on FOX from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, June 15th. Rothschild & Co Redburn set a $71.00 price objective on FOX and gave the stock a “buy” rating in a research note on Friday, July 10th. Fox Advisors set a $82.00 price objective on FOX in a research note on Friday, August 14th. Finally, UBS Group reaffirmed a “neutral” rating on shares of FOX in a research note on Monday, June 15th.

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Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. FWL Investment Management LLC acquired a new position in FOX during the third quarter worth $26,000. Elyxium Wealth LLC purchased a new stake in shares of FOX in the fourth quarter valued at about $27,000. CYBER HORNET ETFs LLC acquired a new stake in FOX during the 2nd quarter valued at $35,000. Quantbot Technologies LP bought a new position in FOX during the third quarter worth $51,000. Finally, Geneos Wealth Management Inc. raised its stake in FOX by 205.6% during the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock worth $52,000 after acquiring an additional 621 shares during the period. Institutional investors own 52.52% of the company’s stock.

FOX Stock Down 0.3%

FOXA stock opened at $65.23 on Friday. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. The company has a market cap of $27.37 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.18 and a beta of 0.55. FOX has a 12-month low of $48.34 and a 12-month high of $76.39. The company has a 50 day moving average of $61.40 and a two-hundred day moving average of $60.72.

FOX (NASDAQ:FOXAGet Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.35. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. FOX’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 EPS. On average, equities analysts anticipate that FOX will post 5.94 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a dividend yield of 86.0%. FOX’s payout ratio is presently 15.14%.

FOX Company Profile

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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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Analyst Recommendations for FOX (NASDAQ:FOXA)

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