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

Shares of Fox Corporation (NASDAQ:FOX) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $77.8889.

FOX has been the subject of several research reports. Citigroup reissued a “buy” rating on shares of FOX in a research report on Friday, July 17th. Seaport Research Partners lowered shares of FOX from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. raised shares of FOX from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Rothschild & Co Redburn set a $71.00 price target on FOX in a report on Friday, July 10th. Finally, Wells Fargo & Company raised FOX from a “hold” rating to an “overweight” rating and set a $80.00 price objective on the stock in a research note on Friday, August 14th.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. increased its stake in shares of FOX by 336.9% during the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock valued at $35,000 after buying an additional 475 shares during the period. Versant Capital Management Inc raised its stake in shares of 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 in the last quarter. Geneos Wealth Management Inc. lifted its position in FOX by 95.1% during the first quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $76,000 after acquiring an additional 703 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in FOX by 130.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock valued at $119,000 after acquiring an additional 1,301 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in FOX by 143.9% in the first quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company’s stock valued at $143,000 after acquiring an additional 1,591 shares in the last quarter. Institutional investors own 26.41% of the company’s stock.

FOX Stock Performance

FOX stock opened at $61.32 on Friday. FOX has a twelve month low of $44.08 and a twelve month high of $68.18. The firm has a market cap of $25.73 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.66 and a beta of 0.57. The business’s fifty day simple moving average is $52.92 and its two-hundred day simple moving average is $54.30. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56.

FOX (NASDAQ:FOX) last issued its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Analysts predict that FOX will post 5.91 earnings per share for the current year.

FOX Announces Dividend

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

About FOX

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.