Fox Corporation (NASDAQ:FOX) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Fox Corporation (NASDAQ:FOX) has earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $77.67.

FOX has been the topic of a number of analyst reports. Seaport Research Partners lowered shares of FOX from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Citigroup assumed coverage on FOX in a research note on Monday, September 14th. They issued an “outperform” rating for the company. Citizens Jmp raised FOX to a “strong-buy” rating in a research report on Monday, September 14th. Fox Advisors set a $95.00 price objective on FOX in a research note on Monday, September 14th. Finally, Guggenheim reaffirmed a “buy” rating on shares of FOX in a report on Tuesday, August 25th.

Insider Buying and Selling

In other news, CEO Lachlan Murdoch acquired 149,934 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the transaction, the chief executive officer directly owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. This trade represents a 11.98% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 23.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FOX

A number of large investors have recently bought and sold shares of FOX. National Pension Service lifted its holdings in shares of FOX by 56.2% during the 2nd quarter. National Pension Service now owns 56,048 shares of the company’s stock worth $2,625,000 after acquiring an additional 20,157 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of FOX during the 2nd quarter worth approximately $35,047,000. Great Lakes Advisors LLC bought a new position in FOX in the second quarter valued at approximately $4,222,000. F&V Capital Management LLC increased its stake in FOX by 31.0% in the second quarter. F&V Capital Management LLC now owns 373,105 shares of the company’s stock valued at $17,476,000 after acquiring an additional 88,395 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in FOX in the second quarter valued at approximately $2,415,000. 26.41% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Performance

Shares of FOX stock opened at $56.54 on Wednesday. The company has a market capitalization of $23.73 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.46 and a beta of 0.58. 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 company has a 50-day simple moving average of $57.06 and a 200 day simple moving average of $55.13. FOX has a 52 week low of $44.08 and a 52 week high of $68.18.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. On average, sell-side analysts predict that FOX will post 5.99 earnings per share for the current year.

FOX Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were given a $0.29 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a dividend yield of 96.0%. FOX’s dividend payout ratio (DPR) is presently 15.14%.

About FOX

Fox Corporation (NASDAQ: FOX) is a U.S.-based media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. FOX retained a portfolio focused on news, sports, broadcast television and digital streaming.

The company’s principal businesses include Fox News Media, which operates Fox News Channel, Fox Business Network and related digital platforms; Fox Sports, which provides national and regional sports programming; and Fox Entertainment, which develops and distributes scripted and unscripted television content.