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

Fox Corporation (NASDAQ:FOXA) has received an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $76.35.

A number of brokerages have recently issued reports on FOXA. Citigroup assumed coverage on FOX in a research report on Monday, September 14th. They set an “outperform” rating on the stock. Citizens Jmp initiated coverage on FOX in a report on Monday, September 14th. They issued a “market outperform” rating and a $95.00 price target for the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $80.00 price objective on shares of FOX in a research note on Friday, August 14th. Barclays cut their target price on FOX from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, June 15th. Finally, Weiss Ratings upgraded FOX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday.

FOX Trading Down 2.2%

NASDAQ FOXA opened at $61.28 on Tuesday. The stock has a market cap of $25.72 billion, a P/E ratio of 16.00, a PEG ratio of 1.11 and a beta of 0.60. The company’s fifty day simple moving average is $64.38 and its 200-day simple moving average is $61.58. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. FOX has a 52 week low of $48.34 and a 52 week high of $76.39.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the business earned $1.27 EPS. The business’s revenue was up 28.1% on a year-over-year basis. Equities research analysts predict that FOX will post 5.94 EPS for the current fiscal year.

FOX Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a yield of 86.0%. FOX’s dividend payout ratio is currently 15.14%.

Insider Transactions at FOX

In related news, CEO Lachlan Murdoch acquired 149,934 shares of FOX stock in a transaction on Tuesday, September 15th. The shares were purchased at an average cost of $68.53 per share, for a total transaction of $10,274,977.02. Following the purchase, the chief executive officer directly owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. The trade was a 11.98% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FOX

Institutional investors have recently modified their holdings of the stock. Junto Capital Management LP bought a new stake in shares of FOX in the 2nd quarter valued at approximately $34,773,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in FOX during the second quarter worth $21,519,000. SG Americas Securities LLC increased its position in FOX by 299.8% during the first quarter. SG Americas Securities LLC now owns 511,811 shares of the company’s stock worth $29,890,000 after buying an additional 383,782 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in FOX by 150.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 377,731 shares of the company’s stock valued at $27,601,000 after buying an additional 227,209 shares in the last quarter. Finally, Andra AP fonden lifted its position in shares of FOX by 208.1% in the first quarter. Andra AP fonden now owns 247,000 shares of the company’s stock worth $14,425,000 after buying an additional 166,822 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

About FOX

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.