Fox Corporation (NASDAQ:FOXA) Stock Has Consensus Target Price of $76.35

Fox Corporation (NASDAQ:FOXA) has been assigned a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $76.35.

A number of brokerages have issued reports on FOXA. Seaport Research Partners cut shares of FOX from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. Citigroup initiated coverage on FOX in a research report on Monday, September 14th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $80.00 price target on shares of FOX in a report on Friday, August 14th. Fox Advisors set a $95.00 price target on FOX in a report on Monday, September 14th. Finally, Weiss Ratings raised shares of FOX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th.

Insider Activity at FOX

In related news, CEO Lachlan Murdoch bought 149,934 shares of the stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the purchase, the chief executive officer owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 20.89% of the company’s stock.

Institutional Investors Weigh In On FOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB bought a new position in shares of FOX during the third quarter valued at about $44,000. Wilkerson Advisory Group LLC increased its stake in shares of FOX by 50.6% in the 1st quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock worth $84,000 after acquiring an additional 482 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of FOX by 20.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock valued at $85,000 after purchasing an additional 251 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in FOX by 2,503.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,536 shares of the company’s stock valued at $80,000 after buying an additional 1,477 shares during the last quarter. Finally, Groupe la Francaise purchased a new position in shares of FOX in the 2nd quarter worth about $99,000. 52.52% of the stock is currently owned by institutional investors.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $63.33 on Tuesday. The firm has a market capitalization of $26.58 billion, a PE ratio of 16.54, a P/E/G ratio of 1.11 and a beta of 0.60. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $64.66 and a two-hundred day moving average price of $61.65. FOX has a twelve month low of $48.34 and a twelve month high of $76.39.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.35. The company had revenue of $4.21 billion for 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%. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Equities analysts forecast that FOX will post 5.94 EPS for the current year.

FOX Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were given a $0.29 dividend. This represents a yield of 86.0%. The ex-dividend date was Wednesday, September 2nd. FOX’s dividend payout ratio (DPR) is presently 15.14%.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and Tubi, an ad-supported streaming service offering movies, television programs, and other digital content.

FOX News Media operates FOX News Channel, FOX Business Network, FOX News Digital, and related audio and digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and broadcasts scripted and unscripted programming through the FOX broadcast network and other platforms.