Fox Corporation (NASDAQ:FOX) Given Average Rating of “Moderate Buy” by Brokerages

Fox Corporation (NASDAQ:FOX) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $77.8889.

Several research firms have recently issued reports on FOX. Citigroup restated a “buy” rating on shares of FOX in a report on Friday, July 17th. Wells Fargo & Company upgraded shares of FOX from a “hold” rating to an “overweight” rating and set a $80.00 target price for the company in a research note on Friday, August 14th. Seaport Research Partners downgraded shares of FOX from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. upgraded shares of FOX from a “neutral” rating to an “overweight” rating and upped their price target for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Finally, Weiss Ratings cut shares of FOX from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday.

FOX Stock Up 1.5%

Shares of FOX stock opened at $61.32 on Friday. FOX has a 1-year low of $44.08 and a 1-year high of $68.18. The stock’s fifty day moving average price is $52.92 and its 200 day moving average price is $54.30. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. The company has a market cap of $25.73 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.66 and a beta of 0.57.

FOX (NASDAQ:FOX) last announced its 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. FOX had a return on equity of 20.64% and a net margin of 9.84%.The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. On average, research analysts expect that FOX will post 5.91 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be given a $0.29 dividend. This represents a dividend yield of 105.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. FOX’s dividend payout ratio is presently 14.62%.

Institutional Trading of FOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in FOX by 42.3% during the 2nd quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock worth $40,000 after acquiring an additional 251 shares during the period. Baird Financial Group Inc. increased its holdings in shares of FOX by 1.1% in the second quarter. Baird Financial Group Inc. now owns 31,707 shares of the company’s stock valued at $1,637,000 after purchasing an additional 343 shares during the period. Brown Brothers Harriman & Co. raised its stake in shares of FOX by 336.9% in the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock worth $35,000 after purchasing an additional 475 shares during the last quarter. Arlington Partners LLC raised its stake in shares of FOX by 12.4% in the second quarter. Arlington Partners LLC now owns 5,054 shares of the company’s stock worth $237,000 after purchasing an additional 556 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of FOX by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the company’s stock worth $656,000 after purchasing an additional 586 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.