FOX (NASDAQ:FOXA) Upgraded at Arete Research

Arete Research upgraded shares of FOX (NASDAQ:FOXA) to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other equities analysts have also issued reports on FOXA. Wall Street Zen lowered FOX from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Barclays boosted their price objective on shares of FOX from $52.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Cfra Research upgraded shares of FOX from a “hold” rating to a “moderate buy” rating in a report on Tuesday, August 5th. Citigroup boosted their price target on shares of FOX from $62.00 to $68.00 and gave the company a “buy” rating in a report on Monday. Finally, Wolfe Research raised shares of FOX from an “underperform” rating to a “peer perform” rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.94.

FOX Price Performance

FOXA opened at $65.51 on Tuesday. The company has a fifty day moving average price of $59.98 and a two-hundred day moving average price of $56.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91. FOX has a 52 week low of $41.78 and a 52 week high of $66.56. The firm has a market capitalization of $29.19 billion, a PE ratio of 13.34, a P/E/G ratio of 1.43 and a beta of 0.54.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.41. FOX had a return on equity of 18.86% and a net margin of 13.88%.The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the firm earned $1.45 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts anticipate that FOX will post 4.38 earnings per share for the current year.

FOX Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd were given a dividend of $0.28 per share. This is an increase from FOX’s previous dividend of $0.18. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a yield of 93.0%. FOX’s payout ratio is currently 11.41%.

Hedge Funds Weigh In On FOX

A number of large investors have recently bought and sold shares of the company. CWM LLC boosted its stake in shares of FOX by 8.6% during the 1st quarter. CWM LLC now owns 6,663 shares of the company’s stock worth $377,000 after buying an additional 527 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in FOX by 7.8% during the first quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company’s stock valued at $364,000 after purchasing an additional 464 shares during the last quarter. Private Trust Co. NA boosted its position in FOX by 86.5% during the first quarter. Private Trust Co. NA now owns 929 shares of the company’s stock valued at $53,000 after purchasing an additional 431 shares during the last quarter. HB Wealth Management LLC acquired a new position in FOX during the first quarter valued at approximately $420,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in FOX by 246.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,009 shares of the company’s stock valued at $4,132,000 after purchasing an additional 51,960 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

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.