Fox Corporation Announces Dividend of $0.28 (NASDAQ:FOX)

Fox Corporation (NASDAQ:FOX) declared a dividend on Tuesday, February 3rd, NASDAQ Dividends reports. Shareholders of record on Wednesday, March 4th will be given a dividend of 0.28 per share on Wednesday, March 25th. The ex-dividend date is Wednesday, March 4th.

FOX has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 4 years. FOX has a payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect FOX to earn $4.38 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 12.8%.

FOX Price Performance

NASDAQ FOX traded down $1.65 during mid-day trading on Thursday, hitting $59.15. The stock had a trading volume of 2,670,205 shares, compared to its average volume of 1,479,500. FOX has a twelve month low of $43.18 and a twelve month high of $68.18. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 3.03. The firm’s 50 day moving average is $64.06 and its 200 day moving average is $57.80. The stock has a market capitalization of $26.26 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.40 and a beta of 0.56.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.31. The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.06 billion. FOX had a return on equity of 18.61% and a net margin of 12.35%. Equities research analysts forecast that FOX will post 4.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of FOX in a research report on Monday, December 29th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of FOX in a research report on Monday, December 22nd. Fox Advisors set a $97.00 price target on FOX in a report on Tuesday, October 28th. Cfra reiterated a “buy” rating and issued a $73.00 price target on shares of FOX in a report on Monday, November 3rd. Finally, UBS Group reiterated a “buy” rating on shares of FOX in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to MarketBeat, FOX currently has an average rating of “Buy” and an average price target of $82.50.

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.