FOX (NASDAQ:FOX) Upgraded at Zacks Research

Zacks Research upgraded shares of FOX (NASDAQ:FOX) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

Separately, Weiss Ratings restated a “buy (b+)” rating on shares of FOX in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy”.

FOX Price Performance

FOX opened at $52.66 on Tuesday. The business has a fifty day moving average of $53.76 and a 200 day moving average of $50.89. FOX has a 52-week low of $37.97 and a 52-week high of $59.29. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The stock has a market cap of $23.46 billion, a P/E ratio of 10.73, a PEG ratio of 1.32 and a beta of 0.59.

FOX (NASDAQ:FOX) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.24. FOX had a return on equity of 18.86% and a net margin of 13.88%.The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.12 billion. As a group, sell-side analysts anticipate that FOX will post 4.25 EPS for the current year.

FOX Dividend Announcement

The firm also recently announced a half year 25 dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. FOX’s dividend payout ratio is currently 11.41%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in FOX by 17.1% during the 3rd quarter. GAMMA Investing LLC now owns 11,541 shares of the company’s stock valued at $661,000 after buying an additional 1,683 shares in the last quarter. State of Tennessee Department of Treasury increased its position in FOX by 352.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 80,407 shares of the company’s stock valued at $4,151,000 after buying an additional 62,646 shares in the last quarter. Captrust Financial Advisors acquired a new position in FOX during the 2nd quarter valued at about $203,000. Redwood Investment Management LLC acquired a new position in FOX during the 2nd quarter valued at about $1,374,000. Finally, Ameriprise Financial Inc. increased its position in FOX by 20.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 89,644 shares of the company’s stock valued at $4,628,000 after buying an additional 15,309 shares in the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

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.