FOX (NASDAQ:FOXA) Stock Rating Reaffirmed by Rosenblatt Securities

Rosenblatt Securities reiterated their neutral rating on shares of FOX (NASDAQ:FOXA) in a research note published on Monday, Benzinga reports. Rosenblatt Securities currently has a $34.00 price target on the stock.

A number of other brokerages also recently commented on FOXA. Wolfe Research upgraded FOX from an underperform rating to a peer perform rating in a research report on Thursday, January 4th. TheStreet cut shares of FOX from a b- rating to a c rating in a research report on Wednesday, February 7th. Wells Fargo & Company dropped their price objective on shares of FOX from $30.00 to $28.00 and set an underweight rating for the company in a report on Thursday, February 8th. Macquarie lifted their target price on shares of FOX from $29.00 to $30.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. Finally, Seaport Res Ptn raised shares of FOX from a neutral rating to a buy rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $33.40.

FOX Price Performance

FOX stock opened at $30.77 on Monday. The company has a fifty day simple moving average of $30.17 and a 200-day simple moving average of $30.37. The firm has a market capitalization of $14.61 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 0.41 and a beta of 0.78. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70. FOX has a 52-week low of $28.28 and a 52-week high of $35.40.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.24. FOX had a net margin of 5.75% and a return on equity of 15.81%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the company earned $0.48 EPS. FOX’s revenue was down 8.1% compared to the same quarter last year. On average, equities analysts anticipate that FOX will post 3.19 EPS for the current fiscal year.

FOX Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 6th were issued a $0.26 dividend. The ex-dividend date was Tuesday, March 5th. This represents a dividend yield of 1.8%. FOX’s dividend payout ratio is currently 30.77%.

Institutional Trading of FOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empirical Finance LLC raised its holdings in shares of FOX by 3.8% in the 3rd quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock valued at $319,000 after buying an additional 372 shares during the period. Deane Retirement Strategies Inc. purchased a new position in FOX during the 4th quarter valued at about $2,752,000. Federated Hermes Inc. boosted its holdings in FOX by 3.9% during the 3rd quarter. Federated Hermes Inc. now owns 33,935 shares of the company’s stock valued at $1,059,000 after acquiring an additional 1,271 shares during the period. Duality Advisers LP boosted its holdings in FOX by 273.1% during the 3rd quarter. Duality Advisers LP now owns 49,233 shares of the company’s stock valued at $1,536,000 after acquiring an additional 36,038 shares during the period. Finally, AustralianSuper Pty Ltd boosted its holdings in FOX by 66.6% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,581,909 shares of the company’s stock valued at $46,935,000 after acquiring an additional 632,522 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). 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 through traditional cable television systems, direct broadcast satellite operators, and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.