FOX (NASDAQ:FOXA) Earns Neutral Rating from Rosenblatt Securities

Rosenblatt Securities restated their neutral rating on shares of FOX (NASDAQ:FOXA) in a research note released on Monday, Benzinga reports. They currently have a $34.00 price target on the stock.

A number of other analysts also recently weighed in on the stock. TheStreet downgraded shares of FOX from a b- rating to a c rating in a research report on Wednesday, February 7th. Wolfe Research raised shares of FOX from an underperform rating to a peer perform rating in a research report on Thursday, January 4th. Seaport Res Ptn upgraded shares of FOX from a neutral rating to a buy rating in a research report on Friday, April 5th. Citigroup raised FOX from a neutral rating to a buy rating and raised their price objective for the stock from $34.00 to $35.00 in a research note on Friday, February 23rd. Finally, Macquarie boosted their target price on FOX from $29.00 to $30.00 and gave the company a neutral rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, FOX presently has a consensus rating of Hold and an average target price of $33.40.

FOX Price Performance

Shares of FOXA stock opened at $30.46 on Monday. The firm’s 50 day moving average price is $30.13 and its two-hundred day moving average price is $30.37. The stock has a market cap of $14.46 billion, a PE ratio of 18.02, a PEG ratio of 0.40 and a beta of 0.78. FOX has a 52-week low of $28.28 and a 52-week high of $35.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.01 and a current ratio of 2.29.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. As a group, analysts forecast that FOX will post 3.28 EPS for the current year.

FOX Dividend Announcement

The company also recently declared a Semi-Annual dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 6th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a dividend yield of 1.8%. FOX’s dividend payout ratio (DPR) is 30.77%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC boosted its position in FOX by 862.2% during the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock worth $29,000 after acquiring an additional 845 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in shares of FOX in the fourth quarter worth $43,000. MV Capital Management Inc. boosted its holdings in FOX by 36.5% during the third quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock worth $44,000 after purchasing an additional 379 shares during the last quarter. Belpointe Asset Management LLC grew its position in FOX by 35.6% in the first quarter. Belpointe Asset Management LLC now owns 1,437 shares of the company’s stock valued at $49,000 after purchasing an additional 377 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in FOX in the 4th quarter valued at $53,000. 52.52% of the stock is currently owned by institutional investors.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.