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

Fox Corporation (NASDAQ:FOXA) has been assigned an average rating of “Hold” from the seventeen brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $72.9286.

Several brokerages have recently weighed in on FOXA. Wells Fargo & Company lowered their price target on shares of FOX from $75.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday, March 27th. Barclays lowered their price target on shares of FOX from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Bank of America cut shares of FOX from a “buy” rating to an “underperform” rating and set a $45.00 price target on the stock. in a research report on Wednesday, February 25th. Argus raised shares of FOX to a “hold” rating in a research report on Thursday, February 19th. Finally, Morgan Stanley boosted their price target on shares of FOX from $74.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th.

FOX Trading Up 1.2%

Shares of FOXA stock opened at $59.30 on Tuesday. The company’s 50-day moving average price is $60.11 and its 200-day moving average price is $64.37. The company has a current ratio of 2.78, a quick ratio of 2.44 and a debt-to-equity ratio of 0.60. The stock has a market cap of $25.23 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 7.22 and a beta of 0.50. FOX has a twelve month low of $46.42 and a twelve month high of $76.39.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.35. The firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.02 billion. FOX had a net margin of 11.41% and a return on equity of 18.14%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. As a group, equities analysts predict that FOX will post 4.38 earnings per share for the current year.

FOX Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were issued a $0.28 dividend. This represents a yield of 83.0%. The ex-dividend date was Wednesday, March 4th. FOX’s payout ratio is 13.46%.

Insider Activity

In related news, CEO Lachlan K. Murdoch sold 637,752 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $58.20, for a total value of $37,117,166.40. Following the sale, the chief executive officer directly owned 152 shares in the company, valued at approximately $8,846.40. The trade was a 99.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Nallen sold 216,806 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $57.68, for a total transaction of $12,505,370.08. Following the completion of the sale, the chief operating officer owned 362,206 shares in the company, valued at approximately $20,892,042.08. This trade represents a 37.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,586,871 shares of company stock worth $91,893,926. 19.68% of the stock is owned by insiders.

Institutional Trading of FOX

Institutional investors and hedge funds have recently bought and sold shares of the stock. FWL Investment Management LLC purchased a new stake in FOX in the 3rd quarter valued at about $26,000. Elyxium Wealth LLC purchased a new stake in FOX in the 4th quarter valued at about $27,000. CYBER HORNET ETFs LLC purchased a new stake in FOX in the 2nd quarter valued at about $35,000. Rosenberg Matthew Hamilton raised its holdings in FOX by 58.5% in the 4th quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock valued at $51,000 after buying an additional 257 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in FOX in the 3rd quarter valued at about $51,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

About FOX

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.