Brokerages Set Fox Corporation (NASDAQ:FOXA) Target Price at $73.56

Shares of Fox Corporation (NASDAQ:FOXA) have been given an average rating of “Hold” by the eighteen analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $74.3750.

Several research analysts recently commented on the company. Rothschild & Co Redburn set a $71.00 price target on FOX and gave the stock a “buy” rating in a research report on Friday, July 10th. Weiss Ratings downgraded FOX from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Evercore set a $73.00 price objective on FOX in a research note on Tuesday, May 12th. Zacks Research cut FOX from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. upgraded FOX from a “neutral” rating to an “overweight” rating and increased their price target for the company from $70.00 to $82.00 in a report on Friday.

FOX Price Performance

FOXA stock opened at $69.04 on Monday. FOX has a 52 week low of $48.34 and a 52 week high of $76.39. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $57.36 and a two-hundred day simple moving average of $60.34. The firm has a market capitalization of $28.97 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.54.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. The business’s revenue was up 28.1% on a year-over-year basis. During the same period last year, the company posted $1.27 EPS. Analysts anticipate that FOX will post 5.89 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently disclosed 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. This represents a yield of 94.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. FOX’s payout ratio is presently 14.62%.

Institutional Investors Weigh In On FOX

Several hedge funds and other institutional investors have recently made changes to their positions in FOXA. Private Trust Co. NA raised its stake in shares of FOX by 35.6% during the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock valued at $52,000 after acquiring an additional 187 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of FOX by 9.2% in 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 during the period. Brown Brothers Harriman & Co. grew its stake in FOX by 27.5% in the third quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock worth $67,000 after purchasing an additional 229 shares in the last quarter. Venturi Wealth Management LLC grew its stake 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 in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in FOX by 20.9% during the 1st 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. Hedge funds and other 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.