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

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

FOX has raised its dividend 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of FOX traded down $1.65 during trading hours 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. The firm has a 50-day moving average price of $64.06 and a 200 day moving average price of $57.80. FOX has a fifty-two week low of $43.18 and a fifty-two week high of $68.18. The firm 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. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on FOX. Cfra reaffirmed a “buy” rating and issued a $73.00 price target on shares of FOX in a report on Monday, November 3rd. Guggenheim reaffirmed a “buy” rating and set a $85.00 target price on shares of FOX in a research note on Monday, December 22nd. Fox Advisors set a $97.00 target price on FOX in a research report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of FOX in a report on Monday, December 29th. Finally, UBS Group restated a “buy” rating on shares of FOX in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from 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.