Fox Corporation (NASDAQ:FOXA) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Fox Corporation (NASDAQ:FOXA) have earned an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $75.0667.

FOXA has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FOX in a research report on Monday, December 29th. Fox Advisors set a $97.00 price objective on FOX in a research note on Tuesday, October 28th. Citigroup upped their price target on shares of FOX from $77.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, February 5th. UBS Group increased their target price on FOX from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, Zacks Research lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th.

FOX Stock Down 0.1%

NASDAQ FOXA opened at $56.35 on Monday. The company has a quick ratio of 2.44, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. FOX has a fifty-two week low of $46.42 and a fifty-two week high of $76.39. The business has a 50 day moving average price of $71.03 and a two-hundred day moving average price of $64.52. The stock has a market cap of $23.97 billion, a PE ratio of 13.55, a P/E/G ratio of 7.41 and a beta of 0.51.

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

FOX Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a $0.28 dividend. This represents a dividend yield of 83.0%. The ex-dividend date of this dividend is Wednesday, March 4th. FOX’s dividend payout ratio (DPR) is 13.46%.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $59.26, for a total value of $5,926,000.00. Following the completion of the transaction, the chairman directly owned 1,100,862 shares of the company’s stock, valued at $65,237,082.12. This represents a 8.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Adam G. Ciongoli sold 29,897 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total value of $2,079,336.35. Following the completion of the transaction, the insider directly owned 35,978 shares of the company’s stock, valued at approximately $2,502,269.90. The trade was a 45.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 19.68% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FOXA. Geode Capital Management LLC lifted its holdings in FOX by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company’s stock valued at $476,248,000 after acquiring an additional 29,923 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of FOX by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,924,975 shares of the company’s stock worth $121,389,000 after purchasing an additional 16,757 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in FOX by 72.0% during the second quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock valued at $101,948,000 after purchasing an additional 762,645 shares during the last quarter. Andra AP fonden lifted its stake in FOX by 2.6% during the third quarter. Andra AP fonden now owns 944,500 shares of the company’s stock valued at $59,560,000 after purchasing an additional 23,700 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in FOX during the fourth quarter worth approximately $67,467,000. Institutional investors own 52.52% of the company’s stock.

FOX Company Profile

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.