Zacks Investment Research downgraded shares of FOX (NASDAQ:FOXA) from a strong-buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Fox Corporation produces and distributes compelling news, sports and entertainment content. The company’s brand includes FOX News, FOX Sports, the FOX Network, the FOX Television Stations and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network. Fox Corporation is based in New York, United States. “

Other research analysts have also recently issued research reports about the company. Bank of America started coverage on FOX in a research report on Wednesday, March 20th. They set a buy rating and a $52.00 target price on the stock. Gabelli assumed coverage on FOX in a research report on Wednesday, May 15th. They issued a buy rating and a $57.00 price objective on the stock. Buckingham Research began coverage on FOX in a research note on Thursday, March 21st. They issued a buy rating on the stock. Atlantic Securities began coverage on FOX in a research note on Thursday, March 21st. They set an overweight rating and a $49.00 price objective on the stock. Finally, Barclays began coverage on FOX in a research note on Friday, March 22nd. They set an equal weight rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $46.73.

Shares of FOXA stock opened at $34.18 on Tuesday. FOX has a 12 month low of $33.78 and a 12 month high of $41.95. The company has a quick ratio of 3.77, a current ratio of 4.60 and a debt-to-equity ratio of 0.78.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.12. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.61 billion. FOX’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. As a group, research analysts forecast that FOX will post 2.53 earnings per share for the current fiscal year.

The firm also recently declared a Semi-Annual dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a $0.23 dividend. This is a positive change from FOX’s previous Semi-Annual dividend of $0.18. The ex-dividend date of this dividend was Friday, May 17th.

Several hedge funds have recently bought and sold shares of the company. Prime Capital Investment Advisors LLC acquired a new stake in shares of FOX during the 4th quarter worth approximately $26,000. Sontag Advisory LLC acquired a new stake in shares of FOX during the 4th quarter worth approximately $36,000. Athena Capital Advisors LLC acquired a new stake in shares of FOX during the 4th quarter worth approximately $40,000. Oppenheimer Asset Management Inc. acquired a new stake in FOX in the 4th quarter valued at approximately $70,000. Finally, Rehmann Capital Advisory Group increased its holdings in FOX by 74.8% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,724 shares of the company’s stock valued at $83,000 after purchasing an additional 738 shares during the last quarter. 51.23% of the stock is currently owned by institutional investors and hedge funds.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States. 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 primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.

Recommended Story: Producer Price Index (PPI)

Get a free copy of the Zacks research report on FOX (FOXA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for FOX (NASDAQ:FOXA)

Receive News & Ratings for FOX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FOX and related companies with MarketBeat.com's FREE daily email newsletter.