Fox Co. (NASDAQ:FOXA) Given Average Recommendation of “Hold” by Analysts

Fox Co. (NASDAQ:FOXA) has been assigned an average rating of “Hold” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $33.40.

FOXA has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of FOX from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. TheStreet lowered shares of FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Citigroup upgraded shares of FOX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $34.00 to $35.00 in a report on Friday, February 23rd. Rosenblatt Securities restated a “neutral” rating and issued a $34.00 target price on shares of FOX in a report on Monday. Finally, Seaport Res Ptn raised shares of FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th.

FOX Price Performance

Shares of NASDAQ FOXA opened at $30.77 on Friday. The firm’s 50-day moving average price is $30.17 and its 200-day moving average price is $30.37. FOX has a 1-year low of $28.28 and a 1-year high of $35.40. The firm has a market capitalization of $14.61 billion, a P/E ratio of 18.21, a P/E/G ratio of 0.41 and a beta of 0.78. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.24. FOX had a net margin of 5.75% and a return on equity of 15.81%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. Equities research analysts anticipate that FOX will post 3.19 earnings per share for the current fiscal year.

FOX Announces Dividend

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

Institutional Trading of FOX

Several institutional investors and hedge funds have recently bought and sold shares of FOXA. Empirical Finance LLC raised its position in shares of FOX by 3.8% during the 3rd quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock valued at $319,000 after buying an additional 372 shares in the last quarter. Deane Retirement Strategies Inc. purchased a new stake in shares of FOX during the 4th quarter valued at $2,752,000. Federated Hermes Inc. raised its position in shares of FOX by 3.9% during the 3rd quarter. Federated Hermes Inc. now owns 33,935 shares of the company’s stock valued at $1,059,000 after buying an additional 1,271 shares in the last quarter. Duality Advisers LP raised its position in FOX by 273.1% in the 3rd quarter. Duality Advisers LP now owns 49,233 shares of the company’s stock worth $1,536,000 after purchasing an additional 36,038 shares during the period. Finally, AustralianSuper Pty Ltd raised its position in FOX by 66.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,581,909 shares of the company’s stock worth $46,935,000 after purchasing an additional 632,522 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Company Profile

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.