Rosenblatt Securities Reiterates Neutral Rating for FOX (NASDAQ:FOXA)

Rosenblatt Securities reaffirmed their neutral rating on shares of FOX (NASDAQ:FOXA) in a research report sent to investors on Monday, Benzinga reports. Rosenblatt Securities currently has a $34.00 target price on the stock.

A number of other equities analysts have also weighed in on the stock. TheStreet lowered shares of FOX from a b- rating to a c rating in a report on Wednesday, February 7th. Seaport Res Ptn upgraded shares of FOX from a neutral rating to a buy rating in a report on Friday, April 5th. Wolfe Research raised shares of FOX from an underperform rating to a peer perform rating in a research note on Thursday, January 4th. Macquarie raised their target price on shares of FOX from $29.00 to $30.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Finally, Citigroup raised shares of FOX from a neutral rating to a buy rating and raised their target price for the company from $34.00 to $35.00 in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $33.40.

FOX Stock Up 0.9 %

Shares of NASDAQ FOXA opened at $30.35 on Monday. FOX has a 1 year low of $28.28 and a 1 year high of $35.40. The firm’s 50 day moving average price is $30.13 and its 200 day moving average price is $30.37. The firm has a market cap of $14.41 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 0.39 and a beta of 0.78. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.01 and a current ratio of 2.29.

FOX (NASDAQ:FOXA) last announced its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. FOX had a net margin of 5.75% and a return on equity of 15.81%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the business earned $0.48 earnings per share. FOX’s revenue was down 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that FOX will post 3.28 earnings per share for the current year.

FOX Dividend Announcement

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 6th were issued a $0.26 dividend. This represents a dividend yield of 1.8%. The ex-dividend date was Tuesday, March 5th. FOX’s dividend payout ratio (DPR) is presently 30.77%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FOXA. Global Retirement Partners LLC boosted its holdings in shares of FOX by 862.2% in the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after buying an additional 845 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of FOX in the 4th quarter valued at about $43,000. MV Capital Management Inc. boosted its holdings in shares of FOX by 36.5% in the 3rd quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock valued at $44,000 after buying an additional 379 shares during the period. Belpointe Asset Management LLC boosted its stake in FOX by 35.6% during the 1st quarter. Belpointe Asset Management LLC now owns 1,437 shares of the company’s stock valued at $49,000 after purchasing an additional 377 shares during the period. Finally, GAMMA Investing LLC acquired a new position in FOX during the 4th quarter valued at about $53,000. 52.52% of the stock is owned by institutional investors and hedge funds.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.