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

Shares of Fox Corporation (NASDAQ:FOXA) have received a consensus rating of “Hold” from the eighteen brokerages that are presently covering the company, Marketbeat.com reports. One 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 twelve-month target price among brokers that have covered the stock in the last year is $74.3750.

Several analysts recently weighed in on FOXA shares. Fox Advisors set a $82.00 price objective on shares of FOX in a research report on Friday. Rothschild & Co Redburn set a $71.00 target price on shares of FOX and gave the stock a “buy” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. upgraded shares of FOX from a “neutral” rating to an “overweight” rating and raised their price target for the company from $70.00 to $82.00 in a research note on Friday. UBS Group reaffirmed a “neutral” rating on shares of FOX in a report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $80.00 price objective on shares of FOX in a research report on Friday.

FOX Stock Performance

FOXA stock opened at $69.04 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The stock has a market capitalization of $28.97 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.83 and a beta of 0.54. FOX has a 1 year low of $48.34 and a 1 year high of $76.39. The stock’s fifty day moving average is $57.36 and its two-hundred day moving average is $60.43.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.35. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. On average, research analysts predict that FOX will post 5.86 EPS for the current year.

FOX Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a yield of 94.0%. FOX’s payout ratio is presently 14.62%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA grew its stake in shares of FOX by 35.6% in the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock worth $52,000 after purchasing an additional 187 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of FOX by 9.2% during the third quarter. Parallel Advisors LLC now owns 2,532 shares of the company’s stock valued at $160,000 after purchasing an additional 214 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of FOX by 27.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock valued at $67,000 after purchasing an additional 229 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in FOX by 3.5% in the fourth quarter. Venturi Wealth Management LLC now owns 6,916 shares of the company’s stock worth $505,000 after purchasing an additional 232 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in FOX by 20.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock worth $85,000 after purchasing an additional 251 shares during the period. Institutional investors and hedge funds 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.