Brokerages Set Fox Corporation (NASDAQ:FOXA) PT at $56.47

Fox Corporation (NASDAQ:FOXA) has received a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $56.4667.

FOXA has been the subject of a number of research reports. Guggenheim reiterated a “buy” rating and issued a $62.00 price objective (up previously from $60.00) on shares of FOX in a report on Wednesday, June 25th. Bank of America increased their target price on FOX from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. Morgan Stanley set a $65.00 target price on FOX in a report on Tuesday, September 9th. Wolfe Research raised FOX from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, July 9th. Finally, Cfra Research raised FOX from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 5th.

FOX Price Performance

FOXA opened at $61.61 on Friday. The stock has a fifty day simple moving average of $57.98 and a two-hundred day simple moving average of $54.82. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. The company has a market cap of $27.45 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 1.50 and a beta of 0.52. FOX has a 12-month low of $41.06 and a 12-month high of $62.85.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.26. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%.The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. Research analysts predict that FOX will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a $0.28 dividend. This is a positive change from FOX’s previous dividend of $0.18. The ex-dividend date is Wednesday, September 3rd. This represents a dividend yield of 93.0%. FOX’s dividend payout ratio (DPR) is presently 11.41%.

Institutional Investors Weigh In On FOX

A number of institutional investors and hedge funds have recently bought and sold shares of FOXA. Hemington Wealth Management raised its position in FOX by 217.6% during the 1st quarter. Hemington Wealth Management now owns 524 shares of the company’s stock valued at $29,000 after purchasing an additional 359 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of FOX in the 2nd quarter worth $35,000. MV Capital Management Inc. raised its position in shares of FOX by 929.9% in the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company’s stock worth $39,000 after acquiring an additional 623 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of FOX in the 1st quarter worth $40,000. Finally, Sentry Investment Management LLC bought a new position in shares of FOX in the 1st quarter worth $43,000. 52.52% of the stock is owned by institutional investors.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.