Fox Corporation (NASDAQ:FOXA) Receives $75.07 Average Price Target from Analysts

Shares of Fox Corporation (NASDAQ:FOXA) have earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $75.0667.

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group restated a “buy” rating and set a $80.00 price objective on shares of FOX in a research report on Wednesday, February 4th. Guggenheim lifted their price objective on FOX from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Fox Advisors set a $97.00 price objective on FOX in a report on Tuesday, October 28th. Barclays cut their target price on shares of FOX from $64.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Finally, Arete Research upgraded shares of FOX from a “neutral” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Tuesday, October 28th.

Insider Activity at FOX

In other news, insider Adam G. Ciongoli sold 29,897 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.55, for a total value of $2,079,336.35. Following the sale, the insider owned 35,978 shares of the company’s stock, valued at approximately $2,502,269.90. This represents a 45.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $59.26, for a total transaction of $5,926,000.00. Following the completion of the sale, the chairman owned 1,100,862 shares of the company’s stock, valued at $65,237,082.12. This trade represents a 8.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 19.68% of the company’s stock.

Institutional Trading of FOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FWL Investment Management LLC bought a new position in shares of FOX during the third quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new stake in FOX in the fourth quarter worth $27,000. CYBER HORNET ETFs LLC bought a new stake in shares of FOX during the second quarter worth $35,000. Rosenberg Matthew Hamilton lifted its position in shares of FOX by 58.5% during the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after purchasing an additional 257 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of FOX during the third quarter valued at $51,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Up 1.3%

NASDAQ FOXA opened at $57.17 on Monday. FOX has a 12 month low of $46.42 and a 12 month high of $76.39. The company has a current ratio of 2.78, a quick ratio of 2.44 and a debt-to-equity ratio of 0.60. The stock has a market cap of $24.32 billion, a PE ratio of 13.74, a P/E/G ratio of 7.42 and a beta of 0.51. The stock’s 50 day moving average is $70.20 and its 200 day moving average is $64.48.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.35. The firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.02 billion. FOX had a net margin of 11.41% and a return on equity of 18.14%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. Research analysts predict that FOX will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a dividend yield of 83.0%. FOX’s dividend payout ratio (DPR) is presently 13.46%.

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.