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

Shares of Fox Corporation (NASDAQ:FOXA) have earned a consensus rating of “Hold” from the eighteen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $56.4667.

FOXA has been the subject of a number of analyst reports. Wolfe Research upgraded shares of FOX from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, July 9th. Wall Street Zen downgraded shares of FOX from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Cfra Research upgraded shares of FOX from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 5th. Guggenheim restated a “buy” rating and issued a $62.00 price objective (up previously from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Finally, Morgan Stanley set a $65.00 price objective on shares of FOX in a research note on Tuesday, September 9th.

Hedge Funds Weigh In On FOX

Several large investors have recently bought and sold shares of FOXA. Ameriprise Financial Inc. boosted its stake in FOX by 30.5% in the fourth quarter. Ameriprise Financial Inc. now owns 166,202 shares of the company’s stock valued at $8,074,000 after acquiring an additional 38,800 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of FOX by 5.5% in the fourth quarter. Cetera Investment Advisers now owns 24,643 shares of the company’s stock valued at $1,197,000 after buying an additional 1,290 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of FOX in the fourth quarter valued at about $365,000. Janus Henderson Group PLC raised its holdings in shares of FOX by 4.7% in the fourth quarter. Janus Henderson Group PLC now owns 11,285 shares of the company’s stock valued at $548,000 after buying an additional 507 shares during the last quarter. Finally, Man Group plc purchased a new stake in shares of FOX in the fourth quarter valued at about $3,239,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Performance

Shares of FOXA stock opened at $59.84 on Friday. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average price of $57.62 and a 200 day moving average price of $54.71. The company has a market cap of $26.66 billion, a P/E ratio of 12.19, a PEG ratio of 1.42 and a beta of 0.52. FOX has a 12 month low of $40.20 and a 12 month high of $62.69.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.26. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Sell-side analysts predict that FOX will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be paid a $0.28 dividend. This is a boost from FOX’s previous dividend of $0.18. This represents a yield of 93.0%. The ex-dividend date is Wednesday, September 3rd. FOX’s payout ratio is currently 11.41%.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.