Analysts Set Fox Corporation (NASDAQ:FOXA) Price Target at $74.38

Shares of Fox Corporation (NASDAQ:FOXA) have earned an average recommendation of “Hold” from the eighteen ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $74.3750.

FOXA has been the topic of a number of recent analyst reports. Seaport Research Partners lowered shares of FOX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Rothschild & Co Redburn set a $71.00 price objective on shares of FOX and gave the stock a “buy” rating in a research note on Friday, July 10th. UBS Group reissued a “neutral” rating on shares of FOX in a report on Monday, June 15th. Guggenheim restated a “buy” rating and issued a $85.00 target price on shares of FOX in a research note on Tuesday, August 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $80.00 price target on shares of FOX in a research report on Friday, August 14th.

FOX Price Performance

Shares of FOXA stock opened at $65.42 on Friday. FOX has a fifty-two week low of $48.34 and a fifty-two week high of $76.39. 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 firm has a market capitalization of $27.45 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.18 and a beta of 0.55. The stock’s 50-day simple moving average is $60.84 and its 200-day simple moving average is $60.60.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.44 by $0.35. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. FOX’s revenue was up 28.1% on a year-over-year basis. During the same period last year, the firm posted $1.27 EPS. As a group, equities analysts forecast that FOX will post 5.94 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a dividend yield of 86.0%. The ex-dividend date is Wednesday, September 2nd. FOX’s dividend payout ratio (DPR) is presently 15.14%.

Hedge Funds Weigh In On FOX

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FWL Investment Management LLC acquired a new stake in FOX during the 3rd quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in shares of FOX in the fourth quarter worth $27,000. CYBER HORNET ETFs LLC acquired a new stake in shares of FOX in the second quarter worth $35,000. Quantbot Technologies LP acquired a new stake in shares of FOX in the third quarter worth $51,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of FOX by 205.6% during the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock worth $52,000 after purchasing an additional 621 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

About FOX

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.